Coinbase has announced the launch of its Instant Exchange, which will allow users to buy and sell bitcoin whilst protecting them against the digital currency’s price volatility.
Users with euro, dollar or pound Coinbase accounts will be able to purchase or sell bitcoin directly on the company’s website.
Once their instant buy or sell order has been executed, the funds will be withdrawn from or credited to the users’ local currency wallet.
Coinbase said in a blog post:
“We are excited to offer these simple tools which will allow Coinbase users to realise the fast, cheap and global nature of bitcoin payments without exposure to bitcoin price changes.”
According to the company’s website, the newly launched feature will be subject to Coinbase’s standard conversion fees and users will also have to adhere to their standard limits, which can be checked by logging into their accounts.
The news comes shortly after Coinbase announced it was suspending operations in Wyoming due to regulatory legislation.