Coinbase to add direct deposit feature – U.S. paychecks may soon convert to crypto – Bitcoin News

On September 27, digital currency company Coinbase announced that U.S. customers will soon be able to deposit their paychecks directly into their Coinbase accounts. With the new direct deposit feature, Coinbase customers can leverage their funds to make investments, generate a return or add value to their Coinbase prepaid debit card.

US Coinbase customers will soon be able to use the direct deposit feature

Coinbase has come a long way since the company was founded in 2012, and now as a publicly traded company, the crypto company offers a myriad of services and is still one of the main gateways to the crypto world. On Monday, the company’s senior chief product officer, Prakash Hariramani, posted a blog post explaining how US Coinbase customers will soon be able to deposit their paychecks directly into their Coinbase accounts.

“Over the next few weeks,” Hariramani announced, “we are rolling out the ability for customers in the US to deposit their paycheck into Coinbase to make regular crypto transactions easier, spend on the Coinbase card, earn rewards. crypto, etc. Get paid in crypto or US dollars and deposit as much or as little of your paycheck as you want. The future of payroll is approaching. Hariramani’s post adds:

Now you will save time on the extra steps needed to transfer money so that you can immediately earn interest on your earnings or earn crypto rewards with your Coinbase card. Plus, you won’t pay any transaction fees on direct deposit funds, so you have instant and free access to the crypto economy.

Access to over 100 cryptocurrencies

According to Hariramani, users can deposit as little or as much of their paychecks as they want and can get the funds paid into more than 100 crypto assets. Funds can be transferred to stablecoins like USDC and DAI, or also remain in USD. Hariramani says the setup can be done easily without leaving the Coinbase app.

“Tap direct deposit in settings, follow the instructions and find your current payroll company or employer, and we’ll automatically update your paycheck allowance,” the Coinbase official said. If you prefer to set up direct deposit manually, we’ll provide you with instructions on what to share with your human resources department or your employer’s payroll website. You can change your direct deposit preferences at any time in your settings, ”concludes Hariramani.

Coinbase’s direct deposit feature adds more ways for people to access crypto, increasing the overall accessibility of the crypto economy. There are a few other companies that offer direct deposit solutions for accessing crypto, like the company Bitwage. Founded in 2014, Bitwage specializes in crypto payroll and human resources (HR) services for companies whose employees want to be paid in digital assets.

What do you think about Coinbase adding direct deposit access for US customers to its crypto markets? Let us know what you think of this topic in the comments section below.

Tags in this story
bitwage, buy crypto, Coinbase, Coinbase direct deposit, Crypto, crypto accessibility, crypto economy, Digital assets, Employees, HR, paychecks, Services

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