United States based renowned crypto asset exchange Coinbase claims that it had been launched to offer “a reliable, trusted, and safe bridge” for users interested in buying and selling cryptocurrencies.
Coinbase added that it aims to offer the simplest investing experience for its users.
As per its new service, the exchange is now permitting new investing tools for dollar-cost averaging, insightful crypto market statistics for tradable digital assets, and supports 24 assets for trading. The Coinbase team added that they’ve added support for stablecoins USDC and Dai, that can be used to earn passive returns when held or custodied with Coinbase.
Coinbase said it wants to offer its customers more management over their digital asset investments, while offering secure access to cash. United States based Coinbase users [in eligible states] are invited to join the waitlist in order that they will potentially borrow as much as 30% of their Bitcoin [BTC] holdings.
The Coinbase team explained:
“We hear from customers that they require cash for expenses like home renovations or car repairs, but they don’t want to prematurely sell their crypto, or remove high-interest loans that would accompany 20%+ APR. With portfolio-backed loans on Coinbase, users can now borrow cash quickly from their Coinbase accounts.”
Coinbase acknowledged that users won’t have to complete lengthy and tedious loan apps. They also won’t be required to complete any sort of credit check. Customers may check in with just “a few taps” then get the cash they need directly in their accounts “within 2–3 days.”
Eligible customers who join the waitlist immediately will be able to apply for these loans, beginning this fall, Coinbase added.
For more information on eligibility requirements and borrowing cash on Coinbase, check here.
Customers within the following United states may join the waitlist: Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin, and Wyoming.
Coinbase has expanded its operations considerably over the years, and is now among the world’s [at least] 67 Fintech Unicorns or companies valued at $1 Bln or more.