Credo360 adds Coinbase integration.
Earlier this week we quietly added Coinbase integration to Credo360. For the first time, you can conduct cryptocurrency transactions on Credo without leaving the site. To do this, you’ll need to associate your Coinbase account with your Credo360 profile, and use it to make direct payments to other users that have Coinbase accounts. Payments can be made from your Bitcoin, Litecoin or Ethereum wallets.
This is just the first step in our plan to make crypto an integral part of Credo360 platform. We believe that cryptocurrencies are one of the biggest innovations of the last decade. They will play an increasing (and democratizing) role in P2P commerce, and we want to make crypto payment experience on Credo as seamless as possible.
We started out with Coinbase for a couple of reasons. First, they are one of the largest (over 10 million users) and most trusted (over 50 billion dollars traded) digital currency exchanges in the world. Second, Coinbase has a really good Wallet API that makes integrating with them straightforward; And last, but not least, there are no fees associated with transactions between Coinbase users. So, effectively, all transactions on Credo using Coinbase as payment method are free.
Coinbase payments made via Credo360 will be recorded on Credo360 as a transaction, and will also be recorded in your Coinbase account. The advantage of making payments via the Credo360, is that you can first check out the reputation of the person you’re making the payment to, and subsequently influence their reputation by rating and reviewing the transaction. Making Coinbase payments via Credo360 also minimizes the costly mistakes of inputting an incorrect payee digital wallet. All of these combined will make the transaction safer for both parties involved.
Currently we are limiting Coinbase payments to $500 a week. In the next phase, which we will roll out in the next couple of months, we will look to increase this limit. We are also working on allowing people to make and receive payments using any crypto wallet, and should have exciting updates on this soon!
