Coinbase to Offer Crypto Trading Pairs for British Pounds
New Trading options for GBP
Famous crypto exchange Coinbase has announced that it’s planning to offer new crypto trading pairs for the British pound. The new pairs will be for clients based in the UK where the exchange a opened an exchange. According to the exchange, the trading will start on September 9th.
Reports indicate that the new pairs to be introduced are LTC/GBP, BCH/GBP, ETH/GBP, and ETC/GBP since the exchange already supports BTC/GBP. This announcement has followed news which had indicated that the exchange was planning to add more coins to support the GBP. The report was later discussed by Coinbase CEO in the UK Zeeshan Feroz.
These new features will make its faster for UK residents wishing to trade in digital currencies since Coinbase makes it cheaper and faster to trade. According to Feroz:
“We have worked for some time trying to make crypto payments in the United Kingdom. In the addition of these new options, customers will benefit from faster transactions as well as reduced costs. This will make the process more reliable since customers and traders will no longer need to convert digital currencies to the Euro and then back to the GBP before trading.”
The launch of the new trading pairs will be done in three stages. Coinbase confirmed that it will follow each step and that each step will be announced on Twitter. The steps will include Post Only where customers will only be allowed to posted limited orders and in this stage no there will be no matches. The second step will be Limit-only where customers will be allowed to match orders but, in this stage, customers will not be allowed to submit market orders. The final step is the full trading where all trading services will be allowed without any restrictions.
In other developments, coinbase started the trading of Ethereum Classic in August something which saw the price of the digital currency rise significantly. More to that Coinbase also changed the name of Toshi to coinbase wallet.