Coinbase Presenting PayPal like Platform for Bitcoin and Litecoin
Coinbase is a San Francisco based exchange of Bitcoin, Ethereum and Litecoin. Currently running on the top of the list in USA is planning to make another big appearance in the market. According to their website they have raised $217 million from their investors. But now their new plan is to come with a platform that will provide you an easy way to make payment through Bitcoin, Litecoin, or Ethereum. This platform will be just like PayPal of Cryptocurrency.
They are calling this service ‘Coinbase Commerce’. This service will appear as a PayPal button on the merchant website. Making it possible to make transaction by cryptocurrency a little smoother, faster and secure. This service is not like a hosted service that means that user will have full freedom on it. Merchants will be able to make transaction on one place using thing. Controlling all you money is more convenient and this solution is perfect for it.
Coinbase Commerce will provide you a wallet that will be controlled fully by merchant. There will be not hosted interference by the coinbase. They will be there just to provide you platform. This solution will serve all the worldwide investors. So how this is going to work then the answer is simple. All you need to do is integrating this service. They already have connected this service to Shopify.
Shopify is a platform that you need if you are into opening your own ecommerce website. Shopify works with integrating different application to it. This allow it to expand its field of service. So Coinbase have already come up with solution and already made integration with them. Now it is easier to accept cryptocurrencies. This service will be just be integrated on checkout page of merchant’s website.
But there is a problem that game streaming company like Steam have seen. They have now stopped using cryptocurrency until the solution is not found. The problem here is instability in the price of the bitcoin. So it is hard to make a fixed price in manner of cryptocurrency. This is causing issues in making ideal deal price for anything. But Coinbase in not sole in this field. There is a company called BitPay. It is also providing you the same service but it only works with Bitcoin where Coinbase goes with Bitcoin, Bitcoin Cash, Ethereum, Litecoin.
Bitpay is the service that is used by the Microsoft. Another problem that came with that coinbase still having issues with this project. Instead of those issues they made the announcement of the product. From protecting their user’s money many banks have advised it’s users to stop purchasing cryptocurrency via their credit card. So save your money and invest them in real asset if you are not into taking risk.