Investing invariably in crypto became simple.
Coinbase, in September, announced that its users will shortly be able to set up direct deposit with any percentage of their paychecks and can select for the money to be deposited as U.S. dollars or any of the more than 100 cryptos available at the exchange, with no fees.
The firm said that the thought for the direct deposit emerged from the users who said that making transfers often was time-consuming and inconvenient.
Max Branzburg, vice president of product at Coinbase said that with direct deposit, customers can more easily access their crypto-first financial services and be prepared for any purchase or trade.
According to the firm, direct deposit will begin at the end of the month and resume through the end of the year.
Essentially receiving a part of pay in the asset or being paid in crypto makes sense for some individuals.
The direct deposit feature will enable some investors to consider crypto like a 401(k) plan, something that they’re always putting money into for a long-term investment. It particularly makes sense for those seeking dollar-cost average, an investment policy that puts smaller pieces of money into an asset over a longer period of tie instead of all at once.
On the other side, it will also be useful for individuals who dynamically transact in cryptos, as they won’t have to go an extra mile for depositing their money into their Coinbase accounts to pay bills and make purchases with the coins.