Bitcoin, Ether, Litecoin: Coinbase Enables 'Instant' Purchases for US Buyers

Cryptocurrency exchange Coinbase has announced that purchases of bitcoin, ethereum and litecoin will now be instant – for some customers.

Oct 12, 2017 at 4:00 p.m. UTC
Updated Sep 13, 2021 at 7:01 a.m. UTC

Cryptocurrency exchange startup Coinbase has announced that some users will now be able to access "instant" purchases of bitcoin, ethereum and litecoin.

The new service is currently only available for users making payments from a U.S. bank account and in amounts of under $25,000. However, Coinbase said it plans to expand the instant purchasing service to other countries "over the coming months."

Whereas previously such transactions would have taken several days, the firm said, customers will now have immediate access to their cryptocurrency holdings after the payment is made.

The San Francisco-based firm explained that the new feature has been a "highly requested" one, and that it should increase the overall speed and usability of the platform.

The move is likely to be popular with users of the startup's service, which been the target of criticism over poor customer service. Coinbase has previously stated that rapid user growth in recent months led to the issues, committing at the time to devote more funds to boost its customer services resources.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase. 

Lightbulbs image via Shutterstock

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