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Cryptocurrency exchange Coinbase has announced a new feature called Convert today which lets users convert their crypto holdings directly into other cryptocurrencies.

The announcement comes during the company’s 12 Days of Coinbase program where they will be announcing a new update every day until December 21.

What Did Coinbase Announce Today?

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Coinbase said that it is a crypto-first company while launching their new feature called Convert.

Convert will allow users to convert cryptocurrencies directly for other cryptocurrencies.

It noted:

“Initially, customers can convert between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX), or Bitcoin Cash (BCH).”

The feature will be available on Coinbase.com as well as the Android and iOS apps of the exchange.

All conversions will be completed instantly.

It shortens the time taken to convert one coin into another compared two doing two separate transactions while also costing the user less in fees.

The feature will be available for all 34 countries where Coinbase offers support for native payments.

The exchange said that it would continue to work on the feature over time utilizing customer feedback.

Coinbase added:

“Our product teams are thinking deeply about new ways to democratize the best of cryptocurrency, and the ability to easily convert one asset to another is an important step on this path.”

The 12 Days of Coinbase Timeline

Day 1- WeGift e-Cards:

Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more.

Day 2- Zcash Donation to Venezuelan families:

The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families.

Day 3- Cryptocurrency: The future of finance and money (Video):

Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization.

Day 4- New Watchlist feature:

Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist.

Day 5- Enables PayPal withdrawals:

In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts.

Day 6- Bitcoin donation for Syrian refugees:

Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto.

Day 7- Coinbase educates users on USDC:

TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1.

Day 8- Enables direct crypto conversions:

Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps.

Day 9- Coinbase Pro Lists four ERC20 Tokens:

Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions.

Day 10- Launches Coinbase Earn:

Coinbase Earn allows participants to earn crypto while learning about it at the same time. The program has launched initially in invite-only mode.

Day 11- Welcomes Customer From New European Regions

Coinbase will now be available for customers in Iceland, Andorra, Isle of Man, Lithuania, Gibraltar, and Guernsey.

Day 12- To be confirmed…

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