Increasing daily limits to $25,000 and enabling immediate trading
Today we’re announcing immediate trading and significantly higher default limits for Coinbase accounts. Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase — no more waiting five days for funds to settle. Most customers will also see their trading limits increased to $25,000 per day. This functionality will be available for US customers over the next few weeks.
Empowering customers to trade when they want
Millions of people turn to Coinbase to get started buying and selling cryptocurrencies. But when someone makes the decision to sign up, they don’t want to wait days before they can start buying cryptocurrency. While we do support instant transfers via wire transfer and debit cards, purchases via direct debits from your bank account can take days to appear.
With this update, customers will receive an immediate credit for the funds being sent from their bank account. They can then buy and sell crypto to and from their USD wallet right away, but cannot send their funds off the Coinbase platform until the funds coming from their bank have settled.
We are also increasing limits for the majority of our US customers. Until now, the maximum allowable purchase was $25,000 weekly. For verified customers, the limit will now be $25,000 daily, a 7x increase over our prior limits. And once your funds are transferred to Coinbase, there are no longer any limits to how much you can buy or sell at a time.
We’ve begun making these updates available and are now beginning to roll them out more broadly. They will be available over the next month to US customers who have completed the identity verification process with Coinbase. Customers who have not yet completed this process will be required to do so before having access to instant purchases, new trading limits and the ability to withdraw or send coins off-platform. We’ll also be working hard to bring these same improvements to our customers around the world.