Your First $1,000,000 USD in Merchant Processing is now free!

[Factory]

http://blog.coinbase.com/post/59417545262/your-first-1-000-000-usd-in-merchant-processing-is-now

Pretty spectacular way to promote Bitcoin acceptance for small businesses.

[LordMeowMeow]

Awesome. Well done CoinBase. (And brilliant marketing

[auto2nr1]

Awesome. Well done CoinBase. (And brilliant marketing

+1 Awesome marketing.

[LifeOnBitcoin]

This could be a game changer. Bitcoin's fees and the merchant processors which facilitate bitcoin payment are already very low, and this basically removes all the risk and near term cost.

[zoinky]

Is this free processing to bank accounts? If so couldn't people fake "purchase" things via the Merchants API and withdraw 1 million USD without getting charged 1% and without being a business?

[🏰 TradeFortress 🏰]

This is seriously awesome!

[favdesu]

yep, that's really amazing. kudos to coinbase and their work/success

[001sonkit]

This is awesome and deserves more than +1. Hope that this could bring new guys into bitcoin. And soon enough I can see the first shop in Hong Kong start accepting bitcoin. Seriously hongkong despite bragged as the financial center or whatever and almost no one touched on Bitcoin.

[prophetx]

how exactly do you not pay the 1%, i checked the UI and it was still asking to charge 1% if I cashed in

[joesmoe2012]

Is this free processing to bank accounts? If so couldn't people fake "purchase" things via the Merchants API and withdraw 1 million USD without getting charged 1% and without being a business?

Exactly what I'm wondering.

[Rygon]

At first glance, it looks like they are just passing on the fees to the customer in terms of lower exchange rate for their BTC.