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Do you want to convert your altcoins into bitcoins this Christmas? Coinbase has launched Coinbase Convert, a new feature that allows retail users to conduct crypto-cryptographic conversions on the stock exchange.
Quick Crypto Conversions
The new feature, which was announced on December 17, 2018, will allow customers to sell a cryptocurrency to purchase one, saving time and multiple costs.
According to the company's announcement, "conversions are completed immediately and at a lower cost than when they are carried out through two separate transactions".
Coinbase Convert will initially support conversions between bitcoin, ether, litecoin, ethereum classic, 0x and bitcoin cash, but other cryptocurrencies are expected to be added to the queue based on customer feedback.
Using the Convert function, the digital asset platform will charge a fixed commission of 1%, based on its commission disclosure page.
The crypto-crypto function is aimed at retail users who do not trade much or those who want to spend less time converting their cryptocurrencies.
The addition of Coinbase Convert arrives a few days after the exchange with PayPal to facilitate free cash withdrawals on PayPal. The integration of PayPal into the withdrawal options available on its platform makes Coinbase quicker.
