Bitcoin wallet and platform, Coinbase has added USD wallets for seven more states. When USD wallets originally launched at the end of 2014, United States residents of only 16 states were eligible for the wallets. Today, the company services a total of 22 states and 1 US territory.
USD wallets allow verified users to purchase bitcoins instantly without the need for a credit card. Previously, Coinbase users had a wait time of up to 5 days for bank transfers to clear before they could access their newly purchased bitcoins. If users wanted to purchase bitcoins instantly, they had to link a credit card to their account. Now, with the new USD wallets, users can send US dollars to their Coinbase account and hold it there until they are ready to buy bitcoins.
Also, buying bitcoins with a USD wallet balance requires no holding period, which means users can access their bitcoins immediately. And since Coinbase no longer charges ACH fees, users will not have to pay a fee should they decide to transfer the dollars back to their bank.
The 7 newly added states include:
- Alabama
- Iowa
- Kansas
- Mississippi
- New Hampshire
- New York
- North Dakota
Coinbase aims to continue to grow this list and provide USD Wallets to more users over time. If you live in a supported state and have a verified identity, your USD Wallet is automatically enabled and ready to be used.
