Coinbase Taking Its Bitcoin Wallet to Europe, Aims to Attract New Customers

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Coinbase Taking Its Bitcoin Wallet to Europe, Aims to Attract New Customers

A leading Bitcoin wallet services provider, the San Francisco-based Coinbase is reaching out to the customers in Europe. The company announced that it is taking its Bitcoin wallet to Europe with an aim of enticing more people there to use the digital currency. The recent announcement has pleasantly surprised the Bitcoin users in the continent.

According to a press release, Coinbase has launched the services in 13 European countries, including France, Spain, Italy, Belgium and the Netherlands. In the statement the company said that while US adoption is trending strong, Bitcoin offerings in other markets have not been as easily accessible to the average person.

Coinbase said in a statement that the company is looking to change this scenario and the attempt to reach out to the customers in Europe is an attempt toward the same goal. More than 1.6 million customer accounts have been opened at Coinbase since it was founded in June 2012 and reportedly, more than 36,000 merchants are using Coinbase.

Consumers can buy and Sell Bitcoin at Coinbase

The company says that the service launched in Europe will allow consumers the ability to buy from and sell Bitcoin to Coinbase in these additional countries. According to a representative from the firm it is a major step for the entire Bitcoin community. It hopes that the latest decision will help it expand to more countries soon.

The company had earlier in August disclosed that it was willing to plan its expansion in European nations and the latest decision is towards the same goal. Coinbase got a lot of positive vibes from the decision by the British government in August wherein it expressed plans to further explore the potential of digital currencies such as Bitcoin.

Coinbase in the announcement said that now with the company people will be able to open accounts to buy Bitcoin from, or sell it in euro-backed transactions connected to authorized European bank accounts. However, the company says that during a test period at the outset of the launch, Coinbase will limit customers to 500 Euros worth of Bitcoin transactions daily.

Nonetheless, it has been made clear that there will be complete safety and security for the investors who worry about their Bitcoin. It seems that Coinbase has learned it well from the collapse of Mt. Gox, which collapsed earlier this year and cost millions of dollars for the customers who had saved their digital currency with the Bitcoin exchange.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com