Home News Coinbase will launch a service for transferring salaries to cryptocurrency

Coinbase will launch a service for transferring salaries to cryptocurrency

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In the coming weeks, Coinbase will launch a service for transferring salaries to cryptocurrency. To do this, the American Bitcoin (BTC) exchange will establish cooperation with the main players in the field of recruiting and settlement companies.

Thus, the “Get paid in crypto” function will be linked to a Coinbase debit card. And it will allow users to receive all or part of the reward in dollars, Bitcoin, Ethereum or more than 100 other digital assets.

The connection is possible in the Coinbase application. Alternatively, employees of the Bitcoin exchange can form instructions for the accounting department of the company where the client works.

The service is free of charge

Concept image of Accounting Business Acronym NTF No Transaction Fees written over road marking yellow paint line.

Coinbase senior director of product Prakash Hariramani announced in a blog post on Monday that the exchange would be offering direct deposits for employees who want to use their paychecks to purchase cryptocurrency with no transaction fees. On the Coinbase app, users can set up direct deposits through a supported payroll company. Or through a company’s human resources department.

The company will receive income from the spread when converting fiat into digital assets. With its initiative, the Bitcoin exchange has met its customers halfway.

They advised to automate the transfers, which take a lot of time and cause inconvenience.

Coinbase card

Recall that in June, Coinbase announced the connection of the Coinbase Card debit card to the Apple Pay system. Previously, US residents could use Google Pay.

American users of the Android OS will also be able to pay with cryptocurrencies. In 2020, residents of 14 European countries were able to add a Coinbase Card to the Google Pay wallet.

Representatives of the Bitcoin exchange added that they will open access to the cashback program to users from the waiting list. They will receive 1% in digital gold or 4% in Stellar Lumens from purchases as a reward when using a debit card via Apple Pay or Google Pay.

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