San Francisco-based bitcoin wallet provider Coinbase has introduced USD Wallets, a new digital wallet that will enable people to exchange cryptocurrency for cash without delays.
With the new service, people are not required to link their credit card to the account and wait for the bank transfer in order to purchase bitcoin. Previously, it could take up to 5 days to receive the bank’s approval to use the acquired digital currency.
Today, people who even don’t own a credit card, will be able to buy bitcoin. Still, the users need to have a verified bank account to send cash into the wallet.
One of the key advantages of the feature is that the users can send USD to their wallet account and keep it for any time they want. It allows a constant access to their bitcoins and can be used immediately, as the wallet doesn’t require any time to hold the cryptocurrency.
If you do not spend the money, you can withdraw the funds back to your linked bank account at any time. Moreover, no fee is charged for making deposits or withdrawing funds from the account.
The service is now available for only US residents in 16 states, which include Arkansas, California, Delaware, Georgia, Idaho, Illinois, Indiana, Massachusetts, Missouri, Montana, New Mexico, Puerto Rico, South Carolina, Washington, Wisconsin and West Virginia.
The future launch of the new service in the other states depends on the digital currency regulation and financial rules defined by governments of each state. However, the company is working on to expand the wallet and make it available in more states.
In general, Coinbase is constantly working on expanding globally and is aimed to make it the easiest bitcoin platform to use. Thus, the company has recently expanded outside the US and launched its services in 18 European countries. In addition, Coinbase’s website has recently become available in 6 new languages, such as Spanish, Portuguese, German, French, Italian and Dutch.