Coinbase, a digital asset exchange company, will offer instant transfer of cryptocurrencies for U.S. bank accounts for amounts up to $25,000, Investopedia reports.
According to Zach Abrams, Coinbase's head of product, the company will use its proprietary fraud prevention systems to ensure that users do not default on their payment for cryptocurrencies.
“Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. Instant purchases make it significantly easier and faster for customers to invest in the digital currency ecosystem,” the company said in blog post.
The instant purchase feature was made available to 15,000 users yesterday and should be rolled out to all users by the end of this year.
According to its website, Coinbase is the world's most popular platform for purchasing Bitcoin (TIKER: BTC.EXANTE), Ethereum (TIKER: ETH/USD.CRC) and Litecoin (TIKER: LTC/USD.CRC). All three currencies have seen a significant rise in their prices this year. The trading volume for the currencies has also correspondingly increased.