Coinbase to increase their daily limit and provide instant cryptocurrency trading

Coinbase, one of the leading cryptocurrency exchange platform in the world, has been making announcements after announcements for the past few weeks in order to provide the best service to its customers. On 7th August, the exchange platform announced that they have increased their daily limit and now support instant trading for the U.S. customers.

Tweet by Coinbase:

“We’re announcing instant trading and significantly higher default limits for Coinbase accounts. Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase—no more waiting five days for funds to settle”

The recent announcement will allow the customers to receive a credit instantly for the funds that is being transferred from their bank account to their Coinbase account. They will not be required to wait for days at a stretch to have their funds settled in their accounts and start trading immediately. Coinbase said:

“They [Coinbase customers] can then buy and sell crypto to and from their USD wallet right away, but cannot send their funds off the Coinbase platform until the funds coming from their bank have settled.”

The maximum limit for the U.S customers has increased by 7 times. Customers who have completed the verification process can transfer $25000 everyday, which is the current weekly limit for all the customers of the platform. Once the amount is transferred to their Coinbase account, there will be no limit for buying and selling.

Coinbase stated that majority of the customers’ trading limit has increased to $25000 per day and that the customers have been notified regarding the increase in the limit. The U.S customers will be able to avail these services next month.

CryptoGerald, a Twitterati says:

“glad to see Coinbase improving and being in the front lines for connecting people into crypto!”

David Pevalin, a digital asset enthusiast says:

“This is a game changer….why dont other exchanges have this feature …. Really, having funds clear instantly, this is not a feature…”

Avc, another Twitterati says:

“Wow, so progressive, NOT. Your policies on monetary transfer have been most repressive harkening back to inception of internet trading some decades ago. Unfortunately you’ve been virtually only game in town for US citizens, now feeling the bite from competition? Robinhood?”