Coinbase adds SHIB and 6 more altcoins to its trading platform that brings customers and businesses together. In this way, Coinbase users get instant and free transactions.
The stock market made a series of important announcements this week.
Coinbase’s announcements include a list of altcoins. As Kriptokoin.com, we have discussed the details in this article. The latest announcement of the exchange came from major altcoin projects such as SHIB, Bitcoin, Dogecoin, and DAI. Coinbase is talking about instant and free cryptocurrency transfers in a blog post today.
Instant and free transactions with SHIB and 6 altcoins
According to a statement posted on Coinbase’s official blog, the exchange now supports payments with a number of altcoin projects other than Bitcoin, Ethereum or USDC. According to the article published today, these altcoin projects include:
- Bitcoin Cash
- Litecoin
- dogecoin
- DAI
- USDT
- APE
- shiba inu
The company also said that despite the high volatility in the cryptocurrency market, users will receive the exact amount they set. At the same time, the platform embodied the announcement by stating that automatic crypto-to-fiat conversion is only available to Coinbase-administered traders and works within set limits:
An important step forward from Coinbase for institutional adoption
Businesses using the Coinbase platform will accept payments in any cryptocurrency they want. They also have the option to keep the incoming cryptocurrency payment in this format or automatically convert it to dollars. In other words, a suitable ground is being prepared for businesses to use crypto money. According to the descriptions on the blog, the automatic conversion will have a ceiling size. Bitcoin, Ethereum, USDC and DAI up to $1 million. LTC, SHIB and USDT up to $500,000. Finally, APE, BCH and DOGE will be instantly convertible up to $250,000.
SHIB is seeing increased adoption in recent months
Meanwhile, more and more companies are adopting SHIB as a means of payment, from luxury accessory zippers to airlines and grocery chains. Now, the community that proudly calls themselves the Shib army must be used to such news by now. At the same time, it is rather unusual to see ApeCoin (APE) as one.
On the other hand, the token of BAYC creators Yuga Labs is used to pay for hamburgers in real life cafe. Otherwise, the use of APE seemed to be limited to the BAYC ecosystem with the various NFT branches and the “Otherside” Metaverse. Still, as we’ve seen with the token’s implementation into the Coinbase Commerce framework, APE gets a plus for utility and who knows. Maybe this is just the beginning.
According to Coinbase’s statement, this breakthrough is an important step towards compliance as it makes payments fast and easy for all parties involved in the ecosystem.
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