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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 September 17, 2020
Uniswap (UNI) is now available on Coinbase

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

Uniswap (UNI)

Uniswap (UNI) is a token used for governance actions in the Uniswap protocol, a decentralized automated liquidity protocol built on Ethereum. Uniswap empowers developers, liquidity providers and traders to participate in a financial marketplace that is open and accessible to all.

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 UNI 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 UNI today.

Coinbase holds UNI tokens and an equity interest in Universal Navigation Inc. (the company developing the Uniswap platform). Coinbase intends to maintain its investment in UNI for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including UNI tokens.


Uniswap (UNI) 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 September 17, 2020
Meet the Coinbase Crypterns who are building the future of money

At Coinbase, we believe that the best people to help us create the future of finance are the ones who will be the most affected: young people like our college Crypterns.

Whether it is a remote or an in-person crypternship experience, our Coinbase interns develop & ship high-priority projects over the course of their 12–16 weeks. Here are some of their stories:

Gerald Nash — Software Engineer Cryptern, Consumer & Security Team

Tell us about yourself?

I’m a senior currently studying Computer Science at Howard University in Washington, D.C. I’m from the beautiful city of Atlanta, Georgia, and I enjoy learning new languages and exploring creative and useful ways that we can interact with technology. I’ve also had two Crypternships!

What projects did you work on during your crypternship?

For my first crypternship, I worked on an update to a consumer web application workflow to help ensure user transactions did not exceed their available balances. For my second, I helped design and implement a tool that regularly executed the in-house security scanner on a variety of internal software projects, which ultimately enables the security team to more reliably find vulnerabilities that may not be found as quickly otherwise.

What did you learn about the working world during your Crypternship?

I learned the importance of pacing and communication. When tasked with large projects, it’s important that you keep in mind the size and scope of your work so that you can plan what needs to be done accordingly. Doing this gives insight into how much work needs to be done during each work cycle (often a sprint). And, as you complete your work, it’s important that you communicate effectively with your manager and teammates regarding any wins that you’ve seen in addition to any newly found problems that could warrant future changes to your working pace or the project overall.

Samira Gadri — Software Engineer Cryptern, Commerce Team

Tell us about yourself?

Hey! I’m Samira. I go to the University of British Columbia and I study Political Science and Computer Science. I was born in Afghanistan, but I have grown up in Vancouver, Canada, and call it home. I am really passionate about harnessing the power of software to give back and make a positive difference in the world.

What made you decide to apply to the Crypternship program?

I actually didn’t know a lot about Coinbase and cryptocurrencies prior to applying and working at Coinbase. I applied for the internship program because the mission described in the job posting, increasing economic freedom around the world, resonated with me. Working for a company that is actively working toward a common good is a huge factor in motivation and job satisfaction for me.

“Working for a company that is actively working toward a common good is a huge factor in motivation and job satisfaction for me.”

What projects did you work on during your crypternship?

During my 12-week internship, I was kept busy with plenty of things to work on. By the end of it, my Github stats said I merged 44+ pull requests into production. The first project I jumped on was a major team project for Coinbase Commerce. I implemented a lot of frontend bug fixes to help the team launch the feature. Afterwards, I was the feature lead for implementing an important requested feature to allow merchants to download all of their withdrawals and refunds data in a CSV format. I was able to scope it out, implement it and launch it before the tax deadline at the time. Finally, I was the feature lead on implementing a pay with Coinbase option on donation checkouts. Previously, Coinbase Commerce only had the option to pay with Coinbase for product checkouts that had a fixed price. I was able to come up with a way to get accurate exchange rates for dynamic user donation input and integrate it into the OAuth flow. I was also able to launch this feature before the end of my internship. Check it out here.

Sowmiya Subramaniyan — Software Engineer Cryptern, Consumer Team

Tell us about yourself and why you chose to apply to Coinbase’s Crypternship Program?

I’m a Computer Science grad student at New York University, passionate about software development. I found out about Coinbase’s internship program when I was looking online for internships in the cryptocurrency and fintech space. I’d heard from previous interns that they’d had a great experience, and that got me interested in applying.

What did you learn about the working world during your Crypternship?

One thing I realized during my Crypternship is how crucial communication is in the professional world. Being able to effectively communicate progress updates and blockers in team meetings is very important for working efficiently. I also learnt how a real-world large-scale application works, and unlike in school where you work on ideal environments, things can go wrong sometimes. Learning how to quickly diagnose and recover from these errors in real time is a great software engineering skill that I gained.

Would you recommend the crypternship program?

Yes, definitely! Through the Crypternship program, you get excellent mentorship and guidance on improving your skills as a software engineer and get to work on impactful projects. Crypto as a tech domain is just emerging and is a very exciting space to be in — you can learn a lot about this space through the program.

“Crypto as a tech domain is just emerging and is a very exciting space to be in — you can learn a lot about this space through the program.”
June Xu — Software Engineer Cryptern, Custody Team

What projects did you work on during your crypternship?

I was lucky to have the opportunity to work on a cross-functional project for my internship that involved directly contributing to one of Coinbase’s Q1 objectives and key results (OKRs). During my time, Coinbase was trying to transition to using more shared services. This transition included migrating all Coinbase products (Consumer, Custody, Pro) to use a unified ledger for computing balance. I had complete ownership over Custody’s transition to this ledger.

Throughout the project, I was able to work with multiple teams, spanning the Payments, Infrastructure, Consumer and Data teams. I set up and attended meetings on behalf of my project, communicated progress to various stakeholders, and also got to work with another awesome teammate near the end of the project to push it to the finish line.

At every step of the way during my internship, I was given the responsibility to do work that made a meaningful contribution to the company. My work felt like it was important to the company’s success. My teammates trusted me to complete my work, and always provided me with support if I needed it.

I’m super thankful for the entire Custody team and Coinbase for making this internship experience worth HODL-ing onto.

Natalie Pekker — Software Engineer, Cryptern Alumni

Can you tell us about your Coinbase Crypternship experience?

As an intern, I got to work on real projects with impact, and I was treated like a real employee in a lot of ways. People who joined my team after I started sometimes didn’t even realize I was an intern for weeks. It was an authentic taste of what it would be like to work at Coinbase full-time after college. One of the most important things for me in my career is feeling challenged by the work I do in a way that helps me grow (while also not worrying about burnout), and after my internship, I knew that Coinbase was the right place for me.

“People who joined my team after I started sometimes didn’t even realize I was an intern for weeks.”

I loved my internship not only because of the work I got to do and the mentorship I received, but also because of the friendships I made. For example, my intern class got really close — we would get dinner together at the office almost every day. The number of interns from my class (roughly half) who returned to Coinbase full-time is a huge testament to the quality of the internship. We remain close to this day, and having them around made the transition to post-grad life a lot less daunting.

Allie Ilijevski — Compliance Cryptern

Tell us about yourself?

I am a first generation American, college, and law student based in Chicago, Illinois! I speak fluent Macedonian and have two little sisters with a huge age gap (16 years). I currently focus on business and compliance law at Loyola University Chicago School of Law and intend to start my career in compliance.

What made you decide to apply to the Crypternship program?

I initially learned about Coinbase during my senior year at the University of Houston. A bunch of my college friends were extremely hyped up about what was then considered to be this crazy concept of “crypto.” Before I applied to the Crypternship program, I did my own research about Coinbase’s mission, vision, and strategy and found that they perfectly aligned with my career aspirations. Coinbase is also known across the crypto world as being the pioneer in its field, and who wouldn’t want to work for a company that is such a powerhouse!

Vrushabh Jambhulkar — Software Engineer Cryptern, Consumer Team

What was the highlight of your Cryptern experience?

Oh boy, where do I start? My internship at Coinbase was such a wonderful learning experience. Even though my internship was completely remote, my team and the university recruitment team never made me feel that way. I gained a lot of professional experience working with my team especially from my mentor and my manager. Their guidance helped me to write high quality, well-tested code. Apart from the technical experience I have received during my internship, I learned a lot of non-technical skills as well. I understood that although planning and preparation may not be fun, it plays a very important role as well, like writing a well laid out technical document/plan. I also improved my communication skills and was able to communicate with all the stakeholders for the project. I feel like I have grown a lot in my professional career and am a lot more confident to work in the industry. All in all, it was awesome working at Coinbase and I can’t wait to get back to work again with the team.

Would you recommend our program?

Absolutely. The Coinbase internship program is a very rewarding experience for both the interns and the company. We get to work on real problems that directly impact the customers. And working under so many talented people in the industry you learn much more than just technical knowledge. Everyone is very welcoming and helpful; they will make sure that you are getting every resource that is required for you to learn and grow in your career. They will push you to do things that are outside your comfort zone, for example when my manager noticed that I have not been very prompt in communicating with the project channel with updates, he urged me to send out updates every week so I could improve upon my communication skills, which sure did help me to a great extent and it also helped me become more social with people. Coinbase has an awesome university recruitment team that makes sure you are never overwhelmed with work, and they organized so many fun events/workshops like my favorite pizza making workshop, terrarium building workshop, and many more. I highly recommend this program to everyone.

Namita Nair — Software Engineer Cryptern, Security Team

What did you learn about the working world during your Crypternship?

I learned that effective communication is essential while working in a team, and we should always have a mindset of “continuous learning” . Coding is often the easiest part, the important part is defining the project scope and requirements perfectly. Documentation is equally important as coding.

What was most rewarding about your Crypternship? What was most challenging?

The most rewarding part was being able to talk to and work with brilliant and motivated people. I was able to work in a company culture that aligned with my values. I felt my work as an intern was valuable — my code shipped to production. The challenging aspects would be the steep learning curve, compounded by the fact that the internship was remote. I had to learn Golang, working in a MonoRepo, AWS Lambda functions on the job. I learned “how to learn,” and asking for help when stuck was encouraged, so I was able to remain productive throughout.

Want to help us build the future of money? Join our team as a Cryptern or UniGrad: See open positions


Meet the Coinbase Crypterns who are building the future of money 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 September 17, 2020
Loopring (LRC) and yearn.finance (YFI) are now available on Coinbase

Starting today, Coinbase supports Loopring (LRC) and yearn.finance (YFI) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store LRC and YFI. LRC and YFI are available in all Coinbase-supported regions, with the exception of New York State.

Loopring (LRC)

Loopring (LRC) is an Ethereum token that describes itself as “an open-sourced, audited, and non-custodial exchange protocol.” It aims to allow anyone to build non-custodial, orderbook-based exchanges on Ethereum by leveraging zero-knowledge proofs.

yearn.finance (YFI)

yearn.finance (YFI) is a decentralized finance (DeFi) platform, which aims to perform a host of functions such as aggregated liquidity and automated market making by moving providers’ funds between platforms such as dYdX, Aave, and Compound. YFI is the native token in the yearn.finance platform. Users can earn it by contributing liquidity to yearn.finance’s liquidity pool and use the token for platform governance.

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 LRC here and YFI 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 LRC and YFI today.


Loopring (LRC) and yearn.finance (YFI) are 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 September 17, 2020
Uniswap (UNI) is launching on Coinbase Pro

Starting immediately, transfer UNI into your Coinbase Pro account ahead of trading. Support for UNI will be available in all Coinbase’s supported jurisdictions, with the exception of New York State.

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 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.

Starting immediately, we will begin accepting inbound transfers of UNI to Coinbase Pro. Trading will begin on Thursday, September 17, if liquidity conditions are met. Updates will be made from our Coinbase Pro Twitter account.

Once sufficient supply of UNI is established on the platform, trading on our UNI-USD order book will launch in three phases, 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.

Uniswap (UNI) is a token used for governance actions in the Uniswap protocol, a decentralized automated liquidity protocol built on Ethereum. Uniswap empowers developers, liquidity providers and traders to participate in a financial marketplace that is open and accessible to all.

Please note that UNI 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 UNI on Coinbase Pro, visit our support page.

Coinbase holds UNI tokens and an equity interest in Universal Navigation Inc. (the company developing the Uniswap platform). Coinbase intends to maintain its investment in UNI for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including UNI tokens.

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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.


Uniswap (UNI) 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 September 16, 2020
Celebrating USDC at $2 billion: A Request for Startups

By Raj Jain, Head of Stablecoin

USD Coin, the world’s leading fully-backed, regulated stablecoin, recently reached $2 billion in market cap. To celebrate this major milestone, we’re issuing a Request for Startups. Join us in creating an open financial system with greater access and inclusion for all.

Just two months ago, in July, USD Coin (USDC) achieved its biggest milestone to-date, crossing $1 billion in total market cap. Occurring only 21 months after it was initially launched in late 2018, this represented a significant accomplishment, solidifying USDC as the leading fully-backed, regulated digital dollar. Now, only two short months later, USDC’s market cap has doubled to reach $2 billion.

Stablecoins are one of the most promising vehicles for creating greater financial access and inclusion. Coinbase was founded with the mission of creating an open financial system for the world, but we can’t do it ourselves. In celebration of USDC’s tremendous growth, and the rapid rise of stablecoins as an important crypto innovation, we’re issuing a Request for Startups. Coinbase Ventures and the USDC Bootstrap Fund are excited to fund and work with promising startups and with developers building decentralized protocols that advance our mission.

If you’re an entrepreneur working on a stablecoin-based idea, we want to hear from you. We’ve outlined some ideas that we’re especially excited about below, but good ideas come from anywhere. If you’re working on a problem that isn’t on this list, reach out anyway!

Banking the unbanked

Access to financial services is critical to creating and maintaining wealth, and those without access suffer from a systemic inequality that creates widening disparity between them and the rest of society. In 2018, the Federal Reserve estimated that there are 55 million unbanked or underbanked adult Americans, accounting for 22% of U.S. households. According to the World Bank, 1.7 billion adults remain unbanked worldwide, and yet two-thirds of those adults own a mobile phone.

A truly open financial system can’t leave the unbanked and underbanked behind. Crypto allows people to save money and participate in activities like investing or borrowing with nothing more than a smartphone. And stablecoins in particular bring the benefits of crypto to those who might not be in a position to navigate the volatility of other cryptocurrencies. Combined with access to the internet, stablecoins will play a key early role in making it easier for people to participate as equals in the global financial system. We’d love to see solutions that could help make this happen.

Wealth preservation

The most economically marginalized tend to live in countries with the most unstable financial systems and the most inflationary currencies. If you’re stuck holding whatever wealth you have in a currency that rapidly loses its worth, the struggle to survive, compete, and thrive with the rest of the world becomes even harder. Even if you aren’t on the fringes, economic stability still matters. USDC gives people around the world easier access to the stability of the US dollar.

Stablecoins built on crypto rails make it easier to access other asset types regardless of where you live, but end-to-end solutions connecting local fiat and crypto are important in order to easily convert back and forth whenever necessary. We’re interested in seeing companies that are solving this problem.

Global payments

Global remittances represent $600 billion in annual peer-to-peer payments (though the World Bank expects Covid-19 to cause a reduction in near-term volumes). Roughly 75% of remittance volume is used to cover everyday expenses, with the remaining 25% used for investing and asset-building. Two key problems plague remittances today: 1) They can be slow due to a lack of global standards and payment rails that are optimized for local laws and banking structures; and, 2) They can be incredibly expensive, with fees as high as 15% for certain corridors.

International payment rails also underpin global business activity, and businesses face similar challenges around speed and cost. Rails optimized for local infrastructure, rather than global interoperability, limit the efficiency with which businesses can transact, both with other businesses and with individuals. Days-long settlement times lock up funds, limit liquidity, and complicate treasury management for companies trying to move fast.

One of the early promises of crypto was revolutionizing global payment flows, but that hasn’t happened yet. We’re interested in seeing how stablecoins can be used to help people send money to friends and family abroad who need help, as well as power a more efficient global payments system for business.

Financial services for crypto companies

Crypto companies have to solve many of the same problems that non-crypto companies face in the course of running their businesses: securing & growing their assets, filing & paying taxes, handling payroll for employees, paying vendors, and more. But, unlike other companies, crypto businesses have a tougher time getting access to financial resources themselves. Traditional financial institutions, including banks, are still learning about crypto and the unique risks that companies in the space can face.

If we want to connect and grow the cryptoeconomy, and ultimately create a more open financial system, we need to make it safer and easier for crypto entrepreneurs to start and operate companies.

Tools for crypto developers

Our strategy at Coinbase involves connecting and growing the cryptoeconomy, and we’re excited to see so many innovative new companies and protocols emerging. But building those companies and protocols still requires crypto developers to handle significant overhead because they don’t yet have a complete set of tools to facilitate application-building.

We want to make it easier for developers to create new crypto-based products and services, especially those that accelerate the adoption of stablecoins around the world. There are several key problems that need solving: 1) Infrastructure and tooling to make it easier to create and operate new protocols; 2) Custody-as-a-service so developers can focus on solving use cases, not managing storage (think Parse for crypto); and, 3) Global, inexpensive on-and-off ramps so people and businesses can easily move between fiat and crypto with KYC that respects local regulation. Crypto developers have other needs too, and we’d love to work with companies that are helping create the foundation to connect and grow the cryptoeconomy.

If you’re an entrepreneur tackling one of these problems, or are working on another big idea that we left off this list, and you’d like to work with us, reach out to our Coinbase Ventures team here. If you’re working on a new decentralized protocol that needs USDC liquidity, our USDC Bootstrap Fund may be able to help — you can apply here.

More about USDC

USDC was introduced by the Centre Consortium, an organization co-founded by Coinbase and Circle, in order to establish an open standard for fiat on the internet and provide a governance framework and network for the global, mainstream adoption of fiat-backed stablecoins.

Want to get your own USDC? It’s easy.


Celebrating USDC at $2 billion: A Request for Startups 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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