Coinbase, the world’s biggest Bitcoin exchange site, announced the launch of their instant exchange today. The instant exchange will allow users to to buy and sell Bitcoins while still being protected against the volatility of the Bitcoin.
The instant exchange is available for all account-holders who has Euro, US Dollar or Great British Pound, who upon selling their Bitcoins will have the funds available instantly in their account at the rate at the time, as well as buying instantly at the rate of that time.
“We’re 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.” Coinbase stated in a press release on their website.
The instant exchange will be subject to the same fees as found in the normal exchange and there will also be the same limits. Users who wishes to buy and sell large quantities of Bitcoins will need to go through a verification process before being able to do so.