August 08, 2018 250By Nathan Bentley
“Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase — no more waiting five days for funds to settle. Most customers will also see their trading limits increased to $25,000 per day. This functionality will be available for US customers over the next few weeks. With this update, customers will receive an immediate credit for the funds being sent from their bank account. They can then buy and sell crypto to and from their USD wallet right away, but cannot send their funds off the Coinbase platform until the funds coming from their bank have settled.”Moreover:
“We are also increasing limits for the majority of our US customers. Until now, the maximum allowable purchase was $25,000 weekly. For verified customers, the limit will now be $25,000 daily, a 7x increase over our prior limits. And once your funds are transferred to Coinbase, there are no longer any limits to how much you can buy or sell at a time.”See the full announcement for yourself, here. There are of course some limits to this, customers must be verified in order to take advantage of the improved service, and limits will still be imposed on debit card transactions. For full details of these limits, please view the official post on the Coinbase blog as detailed above. As stated, this update has been rolled out to encourage new customer and improve the experience of Coinbase’s current US customer base. Moreover though, we have to expect that some of the underlying motivations here will be to aim to entice institutional investors. Coinbase want to be THE platform for international, large scale institutional investment, this is a great step towards achieving this.