Coinbase allows you to convert one cryptocurrency into one other • TechCrunch

It’s laborious to consider that you simply nonetheless needed to convert your BTC into USD as a way to purchase ETH on Coinbase. The corporate is lastly adding direct cryptocurrency-to-cryptocurrency conversions.

The characteristic works with Bitcoin (BTC), Ethereum (ETH), Ethereum Traditional (ETC), Litecoin (LTC), 0x (ZRX) and Bitcoin Money (BCH). It’s only out there to U.S. clients for now, however the firm plans to roll out the characteristic to different nations too.

Let’s have a look at the fees extra carefully. For those who reside in Europe or the U.S., each time you purchase or promote cryptocurrencies utilizing USD or EUR, you pay a minimum of 1.49 % in charges on prime of the unfold (the distinction between the very best promoting worth and the bottom buying worth). Charges are even larger in case you’re utilizing a credit score or debit card.

Coinbase says that the unfold between a fiat forex and a cryptocurrency ought to be round 0.5 % however could differ relying on the buying and selling pair and the order queue.

For those who purchase or promote lower than 200 USD or equal, charges get far more costly. As an illustration, a $10 order will generate $0.99 in charges, or 9.9 %. Clients pay 3 % in charges for a $100 order.

However the excellent news is that it’s a very totally different story with token-to-token transactions. Coinbase doesn’t cost you any markup price — however there’s some inevitable unfold. And with some obscure buying and selling pairs (exchanging ZRX for BCH for example), you may find yourself paying round 1 % in unfold. Nonetheless, it’s a a lot better person expertise for individuals who simply wish to commerce on Coinbase.

With out even mentioning different exchanges, Coinbase Professional customers have been in a position to commerce between a number of cryptocurrencies for a very long time. However Coinbase remains to be the entry gate for a lot of new cryptocurrency customers.

Disclosure: I personal small quantities of assorted cryptocurrencies.

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