Coinbase Commerce Adds 7 Cryptocurrencies, Withdraws Processing Fees

Coinbase Commerce Adds 7 Cryptocurrencies, Withdraws Processing Fees
  • The platform has allowed sellers to benefit from fee-free, fast payments.
  • Price volatility was one of the most apparent drawbacks for merchants.

Merchants may now take Shiba Inu (SHIB) and six other cryptocurrencies as payment via Coinbase Commerce. Two important changes were made on Tuesday to Coinbase Commerce which is led by the world’s most popular crypto exchange platform, Coinbase.

The NASDAQ-listed business recently confirmed in a blog post that the platform has allowed sellers to benefit from fee-free, fast payments. Payments to Coinbase businesses will be instantaneous, enhancing the convenience of both online and in-person transactions.

Drawbacks and Obstacles Removed

The move was made after the exchange got a slew of feedback from customers who said that processing costs were the primary reason they chose not to pay in crypto. Price volatility was one of the most apparent drawbacks for merchants wishing to accept cryptocurrency. Coinbase launched quick payments with no costs in order to minimize price volatility and exorbitant fees for users and merchants.

To ensure that Coinbase merchants are getting exactly what they are owed, the Coinbase blog post argues that fast crypto payment and auto currency conversion would assist. Another seven crypto assets have been introduced to Coinbase Commerce. Shiba Inu, Dogecoin, ApeCoin, Dai, USD Coin, Bitcoin Cash, and Litecoin are among the newest cryptocurrencies.

A total of 10 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether, are now supported on the Coinbase Commerce platform. Luxury accessory merchants, airlines, and supermarkets use SHIB as a payment method. Multiple brands and companies are adopting crypto as a payment method, thus boosting the global adoption rate. The global crypto market is going through a tough phase, with major currencies losing consistently over the weeks. The price of Bitcoin is trading around the $20k level.

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