Were pleased to announce the launch of Instant Exchange, a feature that allows users to send or receive bitcoin payments while eliminating exposure to bitcoin exchange rate fluctuation.
Coinbase has long offered merchants the ability to automatically convert received bitcoin into their local currency, and now Instant Exchange is available to anyone with a local currency wallet.
Two new features are available:
Now you can send bitcoin and pay for it with your local currency from the same page. Coinbase will execute an instant buy in the background for you, debiting funds from your local currency wallet.
To use this feature simply select your local currency wallet from the new send screen.
You can also receive bitcoin and Coinbase will execute an instant sell in the background. The sell will credit funds to your local currency wallet.
To use this feature simply click the Instant Exchange link in your local currency wallet, which will reveal a bitcoin address. Any bitcoin sent to this address will be automatically sold and credited to your local currency wallet.
Were excited to offer these simple tools which will allow Coinbase users to realize the fast, cheap and global nature of bitcoin payments without exposure to bitcoin price changes.
Users with USD, EUR, and GBP wallets can begin using Instant Exchange today.
For more information about Instant Exchange and our standard Conversion Fee, please visit the support page.
Here is a demo of the new send screen in action.