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Coinbase online payment system

Coinbase
https://coinbase.com/

Updated on October 11, 2012
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General Information

 

 

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Instant Payments

Payments arrive at the speed of an email (just a few seconds) and are confirmed within the hour. No more waiting three business days for checks.

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Low Transaction Fees

Coinbase charges just 0.5% when you buy or sell bitcoin via bank account transfer. After that all bitcoin-to-bitcoin transactions are free.

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Pay By Phone

Our website works great on modern smartphones (iPhone, Android, etc). Just visit coinbase.com from your mobile browser.

 

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Simple Transfers

Use your bank account to purchase bitcoins. Transactions are processed within two to three business days. (coming soon)

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Merchant Tools

Easily create "buy now" or donate buttons. We also offer full shopping cart integration. (coming soon)

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Widespread Adoption

About $2 million a day (USD) is already being transacted in bitcoin. It's quickly becoming an international currency.

Currencies

Bitcoin

Countries of use

USA

Users

private and business

Fees

0.5% when you buy or sell bitcoin via bank account transfer

Recent news

Posted on October 21, 2020
Wrapped Bitcoin (WBTC) is now available on Coinbase

Starting today, Coinbase supports Wrapped Bitcoin (WBTC) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store WBTC. WBTC is available in all Coinbase-supported regions, with the exception of New York State.

Wrapped Bitcoin (WBTC)

Wrapped Bitcoin (WBTC) is an Ethereum token that is intended to represent Bitcoin (BTC) on the Ethereum blockchain. It is not Bitcoin, but rather a separate ERC-20 token that’s designed to track Bitcoin’s value. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. Through a WBTC partner, 1 Bitcoin can be exchanged for 1 Wrapped Bitcoin, and vice-versa. The BTC that backs WBTC is verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.

One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see WBTC here), as well as a new section of the Coinbase website to answer common questions about crypto.

Customers can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store WBTC today.


Wrapped Bitcoin (WBTC) is now available on Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 16, 2020
Coinbase Custody explores support for new digital assets

We are continuing to explore the addition of custody support for new assets for customers around the world.

Coinbase Custody is one of the world’s largest and most trusted crypto custodians. Since its inception, it has focused on providing a highly secure and sophisticated storage solution for institutions and individuals that hold large crypto holdings. In addition to industry-leading security and insurance protection, Coinbase Custody has remained on the leading edge of crypto-native features such as staking, governance and decentralized finance (DeFi). We have built a system that is secure, and reliable, but also has the features and functionality that most traders and financial institutions are looking for.

Over the coming months, we plan to support more assets and launch new features that will continue to demonstrate that Coinbase Custody is one of the most trusted and innovative places for institutions to store their crypto assets.

Part of growing the cryptoeconomy, Coinbase Custody will also be exploring ways to serve more institutional clients across the Asia-Pacific region. Most recently, Coinbase Custody has added support for FTX (FTT) and Serum (SRM).

While not all assets, chains and features will be available in all regions, a full list of digital assets that Coinbase Custody is exploring is below.

Aave (AAVE), Amp (AMP), Ampleforth (AMPL), Ankr (ANKR), ArCoin (ArCoin), Audius (AUDS), Barnbridge (BOND), BitTorrent Token (BTT), Centrifuge (RAD), Conflux Network (CFX), Curve (CRV), DFI.Money (YFII), Elrond Gold (EGLD), JUST (JST), JUST Stablecoin (USDJ), Meta (MTA), MovieBloc (MBL), mStable (MUSD), Neo (NEO), Nervos (CKB), Nexus Mutual (NXM), NKN (NKN), NuCypher (NU), Ontology (ONT), Paxos Gold (PAXG), Paxos Standard (PAX), Reserve (RSV), Reserve Rights (RSR), Request Network (REQ), Skale (SKL), SUN Token (SUN), tBTC (TBTC), Terra (LUNA), The Graph (GRT), Tron (TRX), VeChain (VET), WING (WING), WINK (WIN), Wrapped Bitcoin (WBTC)

Our decision to support any asset for custody requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions. We therefore cannot guarantee whether or when any above-listed asset will be available for Coinbase Custody in any jurisdiction. We will add custody support jurisdiction-by-jurisdiction, subject to applicable review and authorizations. The omission of assets from this publication does not disqualify any such asset from active review and potential custody support.

Our customers can expect Coinbase Custody to make future, similar announcements as we continue to explore the addition of numerous assets.

Coinbase Custody offers one of the most sophisticated and reliable crypto custody solutions in the world. To learn more about Coinbase Custody click here.

  • Assets supported by Coinbase Custody are not guaranteed to be listed on Coinbase trading platforms.

Please note Coinbase is an investor in the following crypto projects: Audius (AUDS), Curve (CRV), Reserve (RSV), Reserve Rights (RSR), tBTC (TBTC) and The Graph (GRT). Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. Decisions to support any asset will never be based on Coinbase’s investments and all assets follow a standard review process.


Coinbase Custody explores support for new digital assets was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 16, 2020
Transparency at Coinbase

By Paul Grewal, Chief Legal Officer

Coinbase believes that trust is built through transparency and honesty. As we continue on our journey to becoming the most trusted venue for anyone to interact with the cryptoeconomy, today we’re releasing a Transparency Report that shares insights into how we handle legitimate government requests for some customer data.

Coinbase believes in protecting the financial privacy of our customers. As part of our commitment to being the most trusted place to engage with cryptocurrency, we work every day to ensure customer information remains safe and secure from compromise, inappropriate use, or unnecessary disclosure.

This includes keeping our customers informed about the information they entrust to us. In that spirit, today we are releasing our first Transparency Report. The report summarizes government requests that Coinbase received for customer account information during the first half of 2020.

First, some context

Coinbase currently serves more than 38 million customers worldwide. Like other global financial services and technology companies, we regularly receive requests from law enforcement and government agencies seeking customer account information and financial records in connection with civil, criminal, or other investigative matters. These requests largely come in the form of subpoenas, but may also include search warrants, court orders, and other formal processes. When these requests are valid under financial regulations and other applicable laws, Coinbase has an obligation to respond.

As a financial institution with a duty to detect and prevent prohibited activity on its platform, we respect the legitimate interests of government authorities in pursuing bad actors who abuse others and our platform. Yet we will not hesitate to push back where appropriate, even when it is inconvenient or costly to do so. That’s why each request we receive is handled by a team of experienced specialists in accordance with set procedures to confirm the validity of the request and narrow or object to requests that are overly broad.

What to expect going forward

We believe transparency is a critical part of accountability and maintaining customer trust. That is why we plan to continue releasing these reports on a regular basis. While we are restricted from disclosing some of the information requests we receive, over time we hope to update and improve our reports with additional information, resources, and observations to provide more granular insights into our government response process.

A final point: while transparency reports have become more common in tech, they remain rare in financial services. We think it is important not just for cryptocurrency companies, but for fintechs and banks at large to shed light on financial data sharing practices and contribute to the understanding of industry trends in a meaningful way.

Coinbase Transparency Report — Period: Jan 1, 2020 — June 30, 2020

Total Requests Received: 1,914

Insights

  • ~58% of all requests come from US agencies
  • ~90% of all requests come from three jurisdictions: the U.S., UK, and Germany
  • ~16% of all U.S. requests come from state or local authorities

Transparency at Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 15, 2020
Wrapped Bitcoin (WBTC) is launching on Coinbase Pro

On Monday October 19, transfer WBTC into your Coinbase Pro account ahead of trading. Support for WBTC will be available in all Coinbase’s supported jurisdictions, with the exception of New York State. Transfers will open during business hours, Pacific time.

One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for Balancer (BAL), Ren (REN), Uniswap (UNI), yearn.finance (YFI), Loopring (LRC), UMA (UMA) Celo (CGLD), Numeraire (NMR), Band (BAND), Compound (COMP), Maker (MKR) and OmiseGo (OMG), along with supporting additional European and UK order books. Coinbase continues to explore support for new digital assets.

On Monday October 19, we will begin accepting inbound transfers of WBTC to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT) Tuesday October 20, if liquidity conditions are met.

Once sufficient supply of WBTC is established on the platform, trading on our WBTC-USD and WBTC-BTC order books will launch in four phases, transfer-only, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.

We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.

Wrapped Bitcoin (WBTC) is an Ethereum token that represents Bitcoin (BTC) on the Ethereum blockchain. Through a WBTC partner, 1 Bitcoin can be converted to 1 Wrapped Bitcoin, and vice-versa. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. The BTC that backs WBTC is transparently verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that now consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.

Please note that WBTC is not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.

You can sign up for a Coinbase Pro account here to start trading. For more information on trading WTBC on Coinbase Pro, visit our support page.

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This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

All images provided herein are by Coinbase.


Wrapped Bitcoin (WBTC) is launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase
Posted on October 15, 2020
Coinbase will sponsor two Bitcoin Core developers with first Crypto Community Fund grants

By Manish Gupta, EVP of Engineering

As part of our Crypto Community Fund, Coinbase plans to sponsor at least two Bitcoin developers, who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects. We are beginning our search for grant recipients starting today.

We believe helping to connect and grow the cryptoeconomy is essential to building an open financial system for the world. Our Crypto Community Fund aims to grow and improve the entire crypto industry, while making it simpler to use and more secure for everyone. If successful, we intend to expand the program to other types of projects and crypto communities.

Unlike most cryptocurrency projects, Bitcoin launched without a fundraise, while bootstrapping an entire industry. The open source community has provided critical support for Bitcoin development, with some support from donations from industry organizations and academic institutions. Our goal is to similarly support developers who are committed to growing and maintaining the Bitcoin ecosystem.

If you’d like to apply or nominate a Bitcoin core developer to be sponsored, please fill out this form. Proposals will be shortlisted by current Bitcoin Core developers and important community members, with Coinbase making the final decision. For Bitcoin projects, our advisory board includes Dan Boneh, Carla Kirk-Cohen, Anthony Towns, Amiti Uttarwar, Felix Weis.

We’re excited to fund projects nearly anywhere in the world. While we aim to focus on year-long developer grants, we also encourage people or teams with shorter projects in mind to apply. If successful, we hope to grow the crypto community fund over time.

Example projects we will consider supporting:

  • Direct contributions to Bitcoin Core (e.g., improving testing, fuzzing, bug fixes, improvements)
  • Significant code and/or Bitcoin Improvement Proposal (BIP) review
  • Contributor tooling (e.g., bitcoinacks.com, which is open source)
  • Bitcoin Core libraries and tools (e.g., libsecp256k1)
  • Improvement to testing (e.g., fuzz testing, functional tests)

We encourage all Bitcoin developers and prospective Bitcoin developers to apply for the first grants from the Crypto Community Fund. To apply, please fill out this form.


Coinbase will sponsor two Bitcoin Core developers with first Crypto Community Fund grants was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Read more on Coinbase

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