Coinbase, a cryptocurrency exchange offering trading in Bitcoin and Ether, announced it is lifting the daily buy/sell limits and introduces weekly limits instead.
According to the company blog, the decision was taken after traders expressed their frustration with having to visit Coinbase’s site every day to purchase their maximum amount.
Currently the upgrade is available for users in the US, Canada, Singapore and Australia. The weekly limits will be introduced for clients in Europe in the coming weeks.
The weekly limits are offered to high volume traders and high net worth individuals, after a formal application. The instant limit remains unchanged. Depending on the payment methods – with a bank account or a credit/debit card – the limits can be raised up to $2000 and $1000 worth of ether or bitcoin, respectively.
Coinbase was established in 2012 in San Francisco and is believed to be the largest bictoin-focused company in terms of investment. According to the CrunchBase website, since its establishing in 2012, Coinbase has attracted investments totaling $106.71 million in four rounds. It operates exchanges between bitcoin and fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide.
Coinbase is one of the major cryptocurrency exchanges on the path to global expansion. In July it announced a partnership with Japan’s largest bank – the Bank of Tokyo-Mitsubishi (BTMU) to fuel its Japanese expansion.