Coinbase has announced that its customers across 26 countries [in Europe] can buy Bitcoin “instantly” starting today, reported CoinDesk.
According to a Coinbase blog post, customers in 26 European countries can now buy Bitcoin “instantly” with 3D Secure-enabled credit and debit cards.
Previously, the “instant” purchase option was available only to the holders of US-based Visa and Mastercard credit cards, with the European users having the only option of topping up their accounts via bank transfers, which cannot be used for “instant” purchase.
Last month, Coinbase launched the “instant” feature for its customers in the UK and Spain.
Explaining how one can get started, the blog post says, “New users can sign up for an account and existing users can sign in, visit the payments method page and click “Add Credit / Debit Card.”
Once added, the payment method can be selected on the buy page to “instantly” purchase Bitcoin in pound sterling or euro.
The blog post adds, “Since credit and debit cards will not require a customer to pre-fund their Coinbase account with a bank transfer, customers can now receive bitcoin much faster.”
According to CoinDesk, most banks in Europe support Visa’s 3D Secure protocol, which requires users to prove their identities via password. Although instant, Coinbase will charge 3% convenience fee for the service. At present, only Visa, Mastercard and Maestro cards are accepted, and all purchases must be over 1 pound sterling.
Advising on how one can determine if their card supports 3D Secure, Coinbase suggests contacting the bank to inquire about it, or simply trying adding their card to their Coinbase account. “You will get an error message if your card does not support 3D Secure,” says the blog post.
Coinbase, which has so far raised $106 million in VC funding, also announced that Bitcoin users in Liechtenstein and Slovenia can now buy and sell on its platform. The users in these two countries, however, will use SEPA transfers and will not be able to use the “instant” purchase feature.
In the US, the firm has so far included 36 states, adding South Dakota yesterday.
Image courtesy of Coinbase