Coinbase launches Instant Exchange

Investing | June 24, 2015 By:

On Wednesday, June 17, Coinbase announced the launch of Instant Exchange, a feature that allows users to send or receive bitcoin payments while eliminating exposure to bitcoin exchange rate fluctuation.

“We’re excited to offer these simple tools which will allow Coinbase users to realize the fast, cheap and global nature of bitcoin payments without exposure to bitcoin price changes,” Coinbase said in its blog announcing the new feature,” said Conbase.

To use the Instant Exchange Receive feature, users can click the Instant Exchane link located in their local currency wallets. A bitcoin address will be revealed that the user can give to other users, and any bitcoin that will be sent to that specific address will automatically be sold and then credited to the user’s local currency wallet.

According to the company, users with existing wallets in the U.S. dollar, Euro and Great Britain pound currencies can already begin using the Instant Exchange feature.

Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin.