Coinbase will add new British pound trading pairs
Cryptocurrency exchange Coinbase announced that it will start adding new trading pairs to the British Pound (GBP) market from September 7.
Coinbase Pro General Manager David Farmer wrote on the company’s blog that traders wishing to trade using the British pound will have access to Ethereum, Bitcoin Cash, Ethereum Classic and Litecoin in addition to Bitcoin..
The company announced that each new pair will be opened in a mode available only for placing orders, then it will allow trades on limit orders and, finally, it will go into full functionality, allowing placing market and stop orders.
Farmer explained that a regime in which traders can only place their orders will last for at least 10 minutes until sufficient liquidity has accumulated. Then the calculations for limit orders will start, which will also be carried out for at least 10 minutes. Coinbase has followed this practice when launching its other trading pairs recently..
In August, Coinbase announced that it was opening the option to deposit / withdraw the British pound through the Faster Payments Scheme payment option. This allowed traders to eliminate the need to convert British pounds to euros, which usually took several days..
Coinbase was licensed by the UK Financial Conduct Authority in March to provide e-money services, opening the door to further expansion in the UK and Europe..
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