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Coinbase Is Expanding Its Payment and Cash-Out Methods
users with any Visa or Mastercard debit card linked in their Apple Wallets will automatically have Apple Pay appear as a payment method when transacting with Coinbase on their cellphones.
Updated May 9, 2023, 3:22 a.m. Published Aug 5, 2021, 4:01 p.m.
The Coinbase crypto exchange is adding support for more payment and cash-out methods in the U.S. as well as allowing users with linked bank accounts to instantly sell as much as $100,000 per transaction.
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In a blog post published Thursday, Coinbase announced new integrations with Apple Pay and Google Pay, previously only available when synced with the Coinbase Visa debit card. Now, users with any Visa or Mastercard debit card linked in their Apple Wallets will automatically have Apple Pay appear as a payment method when transacting with Coinbase on their cellphones. Google Pay will be available in the fall.
Coinbase fees for Apple Pay and Google Pay purchases will be 3.99%, the same amount as applied to debit card purchases.
Instant cash-outs will be made through the Real Time Payments (RTP) network as an alternative to Automated Clearing House (ACH) transfers, which can take up to five days. RTP cash-outs allow for near-instantaneous transfers of funds around the clock, with no limits on the number of cash outs per day.
The RTP Network is controlled by the Clearing House (TCH), a payments company and banking association owned by the largest U.S. commercial banks. TCH has been following the evolution of the cryptoeconomy since at least 2014, when it sponsored a report on the risks and regulation of virtual currency.
Additionally, Coinbase said the exchange will now accept crypto purchases via linked Visa and Mastercard credit and debit cards in over 20 countries.
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