Cryptocurrency

Shiba Inu (SHIB) Incorporated As Payment Method on Coinbase Commerce Platform

Coinbase, the largest US-based crypto exchange, has announced the incorporation of seven different digital assets, including the two largest meme tokens, Shiba Inu (SHIB) and Dogecoin (DOGE), into its Commerce platform as payment options.

Coinbase noted:

“We’re announcing two big updates to our Commerce platform: instant, free payments from Coinbase users to Commerce merchants, and seven new cryptocurrencies that can be used for payments through Commerce.”

We Are On Twitter: Follow Us

According to the exchange, these new digital assets were added due to the pressure from customers that were calling for the addition of selected crypto assets as payment methods. The exchange believes the new additions will enhance the experience of merchants (both sellers and payers) on its Commerce platform.

Coinbase wrote, We now support BTC, ETH, USDC, BCH, LTC, DOGE, DAI, USDT, APE, and SHIB. Merchants can easily manage which cryptocurrencies they want to accept, turn off the ones they don’t, and choose to hold or auto-convert any cryptocurrency balance to USD.”

Read Also: Switchere Exchange and Shiba Inu Army Likely Working on a Big Surprise: Details

The exchange stated that it’s on the course to remove friction and increase flexibility within the crypto payment process on both sides of the ecosystem, believing that it will fast-track the mainstream adoption of its brand.

The report added that only Coinbase-managed accounts are eligible for auto-conversion.

The following are the settled limit for auto-conversions, as applied to each digital currency on the list.

  1. $1M — BTC, ETH, USDC, DAI
  2. $500k — LTC, SHIB, USDT
  3. $250k — APE, BCH, DOGE

Coinbase Commerce’s move comes shortly after Shiba Inu (SHIB) and Dogecoin (DOGE) were removed from the Crypto Earn rewards program of Crypto.com exchange, along with various other digital currencies.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Pro-XRP Lawyer States Two Key Reasons Why Bitcoin Will Sustain Rally

Attorney Jeremy Hogan, a prominent figure in the XRP community, recently outlined two key developments…

5 minutes ago

Shiba Inu to $1: Achievable, but Watch Out for This Rising Rival That Could Get There Faster!

Shiba Inu has been stirring excitement among crypto enthusiasts, with hopes of its value reaching…

1 hour ago

XRP, SHIB, DOGE Win Coinbase Significant Inclusion

The U.S.-based cryptocurrency exchange Coinbase has launched a new index fund, the COIN50, which tracks…

1 hour ago

Is This AI Altcoin a Better Buy Than ETH and SOL? 5,000% Potential Predicted!

A new artificial intelligence cryptocurrency is making waves, with experts suggesting it might surpass established…

2 hours ago

Ripple vs SEC: Fox Business Journalist States What Trump Would Do If Gensler Doesn’t Go Willingly

Now that Donald Trump is the president-elect of the U.S., a central part of his…

2 hours ago

5 Best Altcoins to Grow Your Portfolio 4500% in Just Weeks

For those involved in cryptocurrency, it is always about looking for the next investment that…

3 hours ago