The crypto business is booming and prominent exchange, Coinbase is leading this fervor. The exchange was seen adapting to the suddenly increased demand for cryptocurrencies and making new additions to its system. Its latest development was yet another update to the surging adoption rate. The United States-based platform seemed to have adhered to the needs of the public and included the paychecks in crypto feature.
Coinbase made news for an array of reasons this year. From going public to raging their customers over missing funds, the exchange had its own share of highs and lows. The platform endured multiple glitches which undoubtedly angered its users, however, the exchange made up by releasing timely updates.
As the entire globe has been exploring the crypto market and is keen on investing in it, Coinbase made it easier for its users by rolling out the paychecks in crypto service. With this, users could ask their respective businesses to directly deposit an individual’s paycheck into the crypto account.
Coinbase’s latest feature to boost crypto adoption
In a recent blog post by the crypto exchange, it was noted that employees who would like to use their paychecks to purchase crypto could now employ the exchange’s latest feature. This feature allows users to purchase crypto with their paychecks with zero transaction fees after setting up a direct deposit system. Users could do so by contacting the human resources department of their respective companies.
Revealing the reason behind this latest feature, Prakash Hariramani, Senior Director, Product, Coinbase stated,
“There are many reasons why customers make frequent transfers into Coinbase: to make short or long-term investments, to earn interest on yield-generating assets, and to fund everyday purchases with Coinbase Card. However, customers tell us that making frequent transfers is time-consuming and inconvenient.”
Additionally, the exchange has already partnered with several platforms like Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs, to put its latest feature into use. While the exchange affirmed that this list would increase in the near future, it plans on sprucing up the “future of payroll.”