U.S.publicly-listedcryptoexchangeCoinbaseannouncedTuesdayitisendingitsPaycheckDirectDepositservice,afeaturethathadpreviouslyalloweduserstoallocatepartoralloftheirpaychecktobepaidincrypto.
“StartingNovember25,we\'llnolongersupportpaycheckdirectdepositonCoinbase,”theexchange’steamsaidinanemailsenttousersMonday.“PleaseremoveyourCoinbaseaccountfromyourpaychecktoavoiddelaysingettingpaid.”
However,thedecisionhassparkedfrustration.
Customersusingthepaycheckfeaturehavespokenoutonsocialmediaabouttheunexpectedchange,promptingcomplaintsfromthosewhohadreliedonitformakingconsistentcryptoinvestments.
Hey@Coinbase,thissucks.
I’vebeenDCAingonyourplatformforyears,andhavebeenhappytopaymarginallyhigherfeesonyourplatformfortheaddedconvenienceofdirectdepositandintegrationwithmytaxplatform.Butnowitjustdoesn’tmakessensetocontinueusing…pic.twitter.com/EhfwuFwKDe
—BrandonMarshall🧙🏻♂️(@marshallmixing)October14,2024
ACoinbasespokespersontoldDecryptthatit“hasmadethedecisiontowinddown”thefeaturebutthatthecompanywill“bringbackabetterretaildirectdepositexperienceinthefuture.”
“We’veannouncedournewCoinbaseWalletDirectDepositfeature,whichwillrolloutinthecomingmonthstoeligibleusers—furtherhelpingusersbringtheirfinanciallivesfullyon-chain,”theysaid.
DirectdepositsarecomingtoCoinbaseWallet.
Soonyou\'llbeabletogetpaiddirectlyincrypto,rightinyourwallet.AvailablenowinArgentina+moreregionsinthecomingmonths.pic.twitter.com/YU4kw3Hgl8
—CoinbaseWallet🛡️(@CoinbaseWallet)October14,2024
Thenewfeature,settorolloutoverthenextfewmonthstoeligibleusers,willallowcustomerstogetpaiddirectlyincrypto,whichwillbedepositedrightintotheirCoinbasewallet.
Coinbasehasyettoannounceaspecificdateforthelaunchofthenewwalletservice,presentingapossiblegapbetweenthediscontinuationofthecurrentfeatureandthelaunchofthenewone.
Inatweetreplytoadisgruntledcustomer,theofficialCoinbaseSupportaccountacknowledgedthat“havingagapinservicereallycanbelimiting”butaddedthat“hopefully,thiswillleadtoimprovementsdowntheline.”
EditedbySebastianSinclair
decrypt.co