Coinbase dives deeper into traditional financial services by allowing its users to make use of the direct deposit service for any percentage of their paycheck into their online account. This was disclosed by the cryptocurrency exchange recently.
With direct deposit, users can easily access crypto-first financial service and be ready for any trade or purchase. Users can now hold money in dollars or transfer it into cryptocurrencies like Bitcoin at no charge.
The launch which is set to kick off in the coming weeks, comes after complaints of customers that transfers to Coinbase is time-consuming and inconvenient, hence, the reason for the new policy.
The company said that delivering the most trusted full site digital financial services to 68million users is its priority. In achieving this, the company disclosed that it will use an FDIC-insured bank partner for deposits but did not specify which one.
The company also works with MetaBank for its Coinbase rewards card.
