"PayPal for Crypto"
One of the largest trading platforms attacks the e-commerce area with its own payment processor
Coinbase, the largest cryptocurrency trading platform, has developed its own financial instrument that allows online buyers to make payments with digital currencies.
The largest US currency trading platform has announced the launch of a payment processor, a sort of "PayPal" for cryptocoins, which will allow merchants to accept payments in Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
It is called Coinbase Commerce and is already found in the services offered by Shopify, the e-commerce platform that allows users to develop their own online stores.
Some cryptocurrency enthusiasts immediately started to use it:
"Coinbase Commerce can be integrated directly into the transaction completion process or added as an option to pay on an e-commerce platform, "says the company posting.
However, it remains to be seen the acceptance degree of service among online merchants, considering that cryptocoins payment has triggered a number of criticisms, given their volatile price. A similar service, used by Microsoft, is developed by Bitpay, but it only accepts payment in Bitcoin.
The announcement made by Coinbase comes at a time when the company is experiencing serious problems in terms of payments, several major banks no longer allow customers to buy Bitcoin using credit card. Some of them also said they had problems with withdrawing money from the platform via PayPal, a service the company has announced it will give up on it in two weeks.
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