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You can now pump your paycheck directly into Coinbase

Users can direct deposit USD or instantly transfer to various cryptocurrencies.

Coinbase direct paycheck deposit
Image: KnowTechie

Coinbase is one of the most well-known and used cryptocurrency services, and now the company is adding a new feature that should excite some users – the ability to directly deposit their paycheck into the platform.

Announced this week, the new functionality will allow users to directly deposit a portion (or all) of their paycheck into Coinbase. There are zero fees, and zero transaction fees if you want to turn that direct deposit into certain cryptocurrencies, like Bitcoin.

It seems the new functionality is also a way to promote the company’s Coinbase card, which is a Visa card that allows its users to spend USD and various cryptocurrencies, while also getting cashback in the form of various digital currencies.

READ MORE: Coinbase’s NFT marketplace is now open for business

In addition to direct deposits, the company notes that it is working with other partners, “including Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs,” to make it easier for businesses and employees to set up direct deposits with Coinbase.

Overall, it’s not that surprising to see Coinbase expand in this area, and for people that are deep in the crypto space, being able to direct deposit and get cryptocurrency without transaction fees could be appealing.

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Former KnowTechie editor.

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