Coinbase adds instant trading, and increases daily limits

Coinbase just announced two new perks that should please regular cryptocurrency traders. Starting on Tuesday, new Coinbase users will no longer have to wait for five days to trade after signing up for the exchange.

As the company explained in a blog post:

… When someone makes the decision to sign up, they don’t want to wait days before they can start buying cryptocurrency. While we do support instant transfers via wire transfer and debit cards, purchases via direct debits from your bank account can take days to appear.

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.

With the new trading restriction lifted, Coinbase is also raising the daily purchase limit for its tier of verified users to $25,000, up from the previous $25,000 weekly limit.

New users chomping at the bit to start swapping for digital currencies or current high-rollers looking to push the daily limits should note that completing Coinbase’s identity verification, which requires uploading a driver’s license for U.S. users, is a prerequisite for either new perk.

“Customers who have not yet completed this process will be required to do so before having access to instant purchases, new trading limits and the ability to withdraw or send coins off-platform,” Coinbase explains in the blog post.

Both changes will be available first for U.S. customers who have completed Coinbase’s ID verification requirements. Coinbase users around the globe should expect to wait a little longer for the features to become available.