Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, they offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy.
Coinbase have approximately 43 million verified users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries that easily and securely invest, spend, save, earn, and use crypto.
You can now send money to any user with a Coinbase account around the world using XRP or USDC. By using cryptocurrencies that are optimized for cross-border transmission, you can send and receive money virtually instantly by sending those cryptocurrencies and having the recipient convert them into local currency. There’s zero fee for sending to other Coinbase users and a nominal on-chain network fee for sending outside of Coinbase.
In fact, you can send any cryptocurrency supported by Coinbase to another Coinbase user or to an account outside of Coinbase. XRP and USDC may be better suited for smaller international money transfers due to their faster processing and lower transaction fees. USDC also has the added advantage of being exchangeable for one US dollar, rather than being volatile in price like other cryptocurrencies.
What you’ll need to open a Coinbase account:
– be at least 18 years old
– a government-issued photo ID (they don’t accept passport cards)
– a computer or smartphone connected to the internet
– a phone number connected to your smartphone (they will send SMS text messages)
– the latest version of your browser, or the latest Coinbase App version. If you’re using the Coinbase app, make sure your phone’s operating system is up-to-date.
Coinbase doesn’t charge a fee to create or maintain your Coinbase account.
How to send money internationally with Coinbase?
1. Sign in to your Coinbase account, or create one.
2. Confirm your recipient can convert XRP or USDC into local currency.
3. Convert your desired funds into XRP or USDC. 6
4. Access your XRP or USDC wallet and select send.
5. Enter the amount you’d like to send and the target wallet or email address.
With Coinbase you can create your cryptocurrency portfolio
Coinbase has a variety of features that make it one of the best place to start trading:
– Manage your portfolio: Buy and sell popular digital currencies, keep track of them in the one place.
– Recurring buys: Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
– Vault protection: For added security, store your funds in a vault with time delayed withdrawals.
– Mobile apps: Stay on top of the markets with the Coinbase app for Android or iOS.