[2018-08-05] Coinbase Adds British Pound for UK Crypto Users

[maarx]

Crypto exchange Coinbase is now offering deposits and withdrawals denominated in the British pound (GBP), the firm announced Wednesday.

The exchange's U.K. division will now offer same-day deposits and withdrawals from the platform, allowing transfers to happen almost immediately. In a statement, Coinbase U.K. chief executive Zeeshan Feroz wrote that this system will replace the previous method, which had customers convert cryptocurrencies into euros before converting a second time into pounds.

The old process took several days, he said, an aspect that the new process will skip altogether.

https://www.coindesk.com/coinbase-adds-british-pound-for-uk-crypto-users/

Coinbase makes UK citizens easy to buy crypto coins. How will this impact the crpto value?

[1713950690]

1713950690

[gentlemand]

Coinbase makes UK citizens easy to buy crypto coins. How will this impact the crpto value?

Trouble is Coinbase will be the only game in town, albeit a huge one. The banking blockade on anything crypto means no other real exchanges or businesses have bothered and merchant adoption is piddling compared to elsewhere too.

Coinbase have partnered with Barclays who have said they've no interest in dealing with anyone else when it comes to crypto so the blockade remains.

It's still a huge boon for Brits but it's pretty pathetic that this is the first opportunity for them when other populations have been able to run in and out of exchanges very rapidly for years. It's definitely going to count when the next bubble comes. More needs to happen in the UK for more people to pay attention.

[aso118]

Coinbase makes UK citizens easy to buy crypto coins. How will this impact the crpto value?

Trouble is Coinbase will be the only game in town, albeit a huge one. The banking blockade on anything crypto means no other real exchanges or businesses have bothered and merchant adoption is piddling compared to elsewhere too.

Coinbase have partnered with Barclays who have said they've no interest in dealing with anyone else when it comes to crypto so the blockade remains.

It's still a huge boon for Brits but it's pretty pathetic that this is the first opportunity for them when other populations have been able to run in and out of exchanges very rapidly for years. It's definitely going to count when the next bubble comes. More needs to happen in the UK for more people to pay attention.

As far as exchanges are concerned, you have other options for Brits like Coinfloor. If your trade size is reasonable, I think transactions at Coinfloor will be cheaper than doing so on Coinbase. The only problem with Coinfloor is its relatively large fiat deposit/withdrawal minimum limits, which is not good for retail investors.

[gentlemand]

Coin floor is shit. You have to send money to Poland. They also desperately want to be all institutional and raised the limits outrageously and gave real people about 5 days to get out. They're not professional.

[Harlot]

I don't see how a more convenient way of withdrawing as well as depositing earnings will affect the price of cryptocurrencies tremendously not unless a bunch of whales will now enter the market because of this option, which I doubt will happen as they probably find a way on entering the market without this feature being launch by Coinbase. Only people who will benefit this are small time traders or who just wants convenience in how they will transact in and out of the market. It simply does not make the demand increase significantly if you are hoping for a price increase.

[gentlemand]

I don't see how a more convenient way of withdrawing as well as depositing earnings will affect the price of cryptocurrencies tremendously not unless a bunch of whales will now enter the market because of this option, which I doubt will happen as they probably find a way on entering the market without this feature being launch by Coinbase. Only people who will benefit this are small time traders or who just wants convenience in how they will transact in and out of the market. It simply does not make the demand increase significantly if you are hoping for a price increase.

Coinbase was one of the world's top apps during the bubble. Of course real people add up if there are enough of them.

If you're in the UK then the options before this were pretty agonising. This is as painless as it'll get. Conversion rates are a thing. Every barrieryou put between desire and the reality means a huge percentage falling at every one.

[Harlot]

I don't see how a more convenient way of withdrawing as well as depositing earnings will affect the price of cryptocurrencies tremendously not unless a bunch of whales will now enter the market because of this option, which I doubt will happen as they probably find a way on entering the market without this feature being launch by Coinbase. Only people who will benefit this are small time traders or who just wants convenience in how they will transact in and out of the market. It simply does not make the demand increase significantly if you are hoping for a price increase.

Coinbase was one of the world's top apps during the bubble. Of course real people add up if there are enough of them.

If you're in the UK then the options before this were pretty agonising. This is as painless as it'll get. Conversion rates are a thing. Every barrieryou put between desire and the reality means a huge percentage falling at every one.

It makes sense but will people really choose this "painless" option rather than the best rates being offered in the market? If they want the best rates possible they can always go find a buyer in localbitcoins who has a good reputation as well as a bank deposit option available for you. Coinbase it not known for giving the best rates for your cryptocurrencies not to mention there are also account limits per level of verification in Coinbase which I think is not appealing for people who don't want their names linked to their wallet.

[gentlemand]

Yes. Most people are stupid, lazy and wary.

They'll much prefer somewhere that looks professional and reassuring than some random you have to message and await.

Anyone looking for the best rates no matter what will always go the extra distance.

And local bitcoins will almost always be more expensive, especially when there's a bubble on. For Brits it's one of the few reliable options for faster payments and the premiums reflect that.