12 Jul '13, 11am

CoinBase opens instant bitcoin transfers for verified customers

CoinBase opens instant bitcoin transfers for verified customers

The bitcoin wallet platform CoinBase has now enabled instant bitcoin purchases. Users will have to undergo identity verification, which will unlock instant transfer and larger transaction limits. CoinBase is still limited to the US only, but this move brings it into closer competition with the BitInstant exchange. CoinBase imposes transaction limits via so-called user levels. Level 2 accounts have the highest transaction limits. However, as a part of the new instant transfer facility, CoinBase says it has set all users at level 1, and it will require identity verification before anyone can return to level 2 status. According to comments by a CoinBase representative on Reddit, there are two steps required for verification: To become level 2 you need to do two things: 1) Make a purchase at level 1, and wait 30 days 2) Complete ID verification, which takes less than 5 minutes...

Full article: http://www.coindesk.com/coinbase-opens-instant-bitcoin-tr...

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