Bitcoin Global News (BGN)

January 22, 2019 -- ADVFN Crypto NewsWire -- When you think about the world’s most powerful crypto company, which comes to your mind first? For most people who have any experience at all with cryptocurrencies, the answer would be two companies, Coinbase and Binance.

Despite the fact that Binance appears poised to become the most powerful crypto exchange in history, one factor exists that raises Coinbase above it.

In a word, Binance does not have as many fiat on-ramps. Last summer, it was announced that they would be adding the option for customers to buy crypto with Euros, with other fiat currencies to follow, though at this time, it seems that the US Dollar is still not supported on the platform.

Users who are interested in trading with their dollars have to convert them to Bitcoin or, even more controversially, to a stablecoin. Coinbase, on the other hand, has offered the option of using one’s bank account and credit cards to purchase crypto at any time.

Despite this, until just recently, these options have really only existed for United States customers.

Today, Coinbase announced that they will begin to allow SWIFT transfers to and from foreign bank accounts. While this does not mean that Coinbase customers abroad will be able to directly use their card and bank accounts to fund their trading accounts, it does mean that they will be able to use fiat currencies to trade for the first time.

The only caveat is that non-US customers will have to wait longer to access the funds that they send from their bank accounts to their crypto accounts. Exactly how long this will be depends on all of the moving parts of a swift transfer though on average, this usually means three to five days.

Consider this, perhaps the wait will be bearable. Whatever the case, it is reasonable to expect that 2019 will be the year that Coinbase and Binance continuously fight their way to the top of the crypto industry.

 

 

By: BGN Editorial Staff

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