Coinbase, a very popular cryptocurrency exchange, is now introducing a new payment method akin to PayPal but, as noted by the media, with lower transaction fees.
This Coinbase Commerce mechanism allows to pay with cryptocurrency by making a few simple steps. Bitcoin, Bitcoin Cash, Ethereum and Litecoin are already supported. The press also notes that the internal structure of this new way of crypto payments was somehow connected with the blockchain of Ethereum.
PayPal already has a similar payment button, and economic observers note that the one Coinbase invented resembles it very much. They also say that this button, when integrated on marketplaces, would benefit the sellers greatly.
Coinbase definitely decided to optimize operations related to it. Recently it even started to compose and disseminate tax forms for its American users so that no complaints from the United States Internal Revenue Service were ever issued again.
The managers of Bitfinex, the rival of Coinbase, are also not sitting idly. They have invented a new decentralized platform called Eosfinex which is designed to solve scalability issues, which are currently one of the biggest problems of the cryptocurrency sphere.