Coinbase Rolls Out Direct Paycheck Deposit Feature for U.S. USers
Large U.S. based cryptocurrency exchange, Coinbase, has announced on Monday that its U.S. customers can deposit all or part of their paycheck in crypto or dollars on their platform, without a fee.
The announcement was made on the company blog post, where the Nasdaq listed company said U.S. users can deposit “as much or as little” of their paycheck at zero fees, whether in crypto or fiat currency.
Direct payments can easily be created and modified in the Coinbase App by only a couple of steps. Coinbase will offer instructions to enable manual deposits via a company’s payroll system and users can set up an automatic paycheck distribution order in the app.
The service, that will launch in “the coming weeks”, addresses concerns that frequents transfers would be too time-consuming. Coinbase users will start enjoying making investments, earning interest on crypto assets or paying for goods and services at much much greater convenience and speed.
In another announcement, the cryptocurrency exchange confirmed that Coinbase Visa debit card holders will be able to earn crypto rewards on spending in dollars as well as certain cryptocurrencies without fees. It also said improvements on its mobile and web application were made to enable users to research assets, conduct transactions and “engage with the broader crypto economy.”
Starting this week, cardholders will be able to earn 1% on dai tokens or 4% on amp or rally tokens. They can already earn 1% on ether, dogecoin and bitcoin, and 4% on the graph and stellar tokens.
As Coinbase puts it in their blog, for you to ‘do more with your crypto’ from staking to spending to sending and receiving your earnings in crypto, they have partnered with a number of companies, including Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs. The exchange is committed to be with you manoeuvring comfortably throughout the creator economy.
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Author: Peter Siu