Coinbase, one of the largest cryptocurrency brokerages, is making strides in their ability to offer cryptocurrency services globally and with ease.
Recently, they started a beta-testing Coinbase Commerce. A new feature for merchants to integrate and accept cryptocurrency.
Coinbase Commerce Brings Cryptocurrency To Merchants
Right now the options for merchants are slim to none.
While Bitpay is one of the alternatives and major platforms for accepting cryptocurrency, it still can be costly and only accepts Bitcoin/Bitcoin Cash.
Now, on the other hand, using Coinbase or a similar service requires the user to have an account and log-in before checkout.
Although, those days seem to be quickly coming to an end with the introduction of Coinbase Commerce.
When signing up the homepage looks like this, but currently, they have a waitlist for new sign-ups.
Luckily, some merchants are already accepting Coinbase Commerce as a feature, so let’s walk through their process.
When checking out, Coinbase Commerce looks just like PayPal or a similar service.
After clicking the option and paying with it, you then have the opportunity to choose between the four cryptocurrencies that Coinbase offers.
Then you just select the currency to pay for and can use metamask or any method to send the funds to Coinbase address.
You input your address that is sending, and then the product should be unlocked, and the funds released to the Merchant.
And boom you are all set.
Now, what implications does this have for the industry as a whole?
A lot. Allowing merchants all over the country to accept cryptocurrency in an easy to use way, that is friendly, and resemblant of PayPal to which most users are already used too is going to be a game changer.
Coinbase is becoming a household name, and with backing by major funding platforms, we may see this spread to major establishments shortly…
Helping to spread the message of cryptocurrency globally.
Thanks for reading,
The GCA Team