Coinbase has announced the launch of its Instant Exchange, which will allow users to buy and sell bitcoin whilst protecting them against the digital currency's price volatility.
Users with euro, dollar or pound Coinbase accounts will be able to purchase or sell bitcoin directly on the company's website.
Once their instant buy or sell order has been executed, the funds will be withdrawn from or credited to the users' local currency wallet.
Coinbase said in a blog post:
The news comes shortly after Coinbase announced it was suspending operations in Wyoming due to regulatory legislation.
Bitcoin and dollar image via Shutterstock
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.