A new mobile wallet is going to take bitcoin exchanges to the next level.
According to CoinDesk, Coinbase announced that it’s planning to integrate a new type of service that lets users exchange their bitcoin for fiat currency at a fraction of the cost.
This is a big step forward for the bitcoin ecosystem as a whole.
But the company’s announcement comes after months of bitcoin startups trying to compete with Coinbase, a firm that has become a darling for mainstream companies looking to take on the world of cryptocurrency exchanges.
In a blog post announcing the new service, Coinbase CEO Brian Armstrong said it’s not just a new product but a “big change for bitcoin.”
This is not a small change.
A few months ago, Coinbase started offering a “new form of currency transfer,” or “transfer” service that allows users to exchange their bitcoins for dollars.
Users pay Coinbase, which then issues the bitcoins to an account on the platform, and the exchange then goes live.
For a few dollars more than what a traditional bitcoin wallet charges, the company has a pretty good option for people wanting to convert their bitcoins into cash.
The company’s service is called “bitcoin” and it allows users of its platform to transfer bitcoins to the account of another person in exchange for dollars or other assets.
It’s a much more convenient way to move bitcoins than a traditional exchange, and it’s also a better way to handle large-scale trades than traditional wallet services.
In the past, bitcoin exchanges have struggled to get their services to scale, with some of them shutting down due to high fees.
Coinbase said it was going to fix that problem with the new transfer service.
CoinDesk spoke with Coinbase CTO Mark Smith about the service.
“Bitcoins are a form of value, and we want to make sure we’re offering a good user experience to our customers,” he said.
The new service is expected to launch in the coming months.