US-based cryptocurrency exchange and wallet provider, Coinbase has revealed in an official statement, dated Dec.17 that it is introducing a new feature dubbed “Convert” for customers to easily convert one asset to another.
In line with the statement, Coinbase users can now directly convert Bitcoin (BTC) to Ethereum (ETH), Bitcoin Cash (BCH), Ox (ZRX), Ethereum Classic (ETC), and Litecoin (LTC). This new feature is available on Coinbase.com and the firm’s iOS and Android apps.
Coinbase described “Convert” as a “natural progression” in the journey to “making crypto more accessible to everyone. Its features include completing conversion instantly and converting at a lower cost than when done through separate transactions.
According to the announcement, all 34 countries with Coinbase as their native payment access will gradually enjoy this new feature over time. This will pave more ways for easy conversion of one asset to another, thereby promoting cryptocurrency independence.
In 2016, Coinbase got integrated with PayPal when the exchange added support for the platform in addition to major credit cards. Then Coinbase users could sell Bitcoin and get their fiat fund paid into a PayPal wallet. However, that integration got terminated for technical reasons in February 2018.
More recently as part of her “12 days of Coinbase” promotional campaign, on the 14th day of Dec. the exchange reintroduced fiat withdrawals to PayPal and revealed that the service will be made available to clients in the United States and later to other countries.
The campaign is designed to make the exchange more marketable with new features and services being added by Coinbase daily.
According to CoinMarketCap data, Coinbase Pro, the professional exchange platform for Coinbase is the 22nd largest exchange by 24-hour trade volume, at $142 million.