By Prakash Hariramani, Sr Director, Product, Coinbase
Over the next few weeks, we’re rolling out the ability for customers in the US to deposit their paycheck into Coinbase to more easily make regular crypto trades, spend on Coinbase Card, earn crypto rewards¹, and more. Get paid in crypto² or in US dollars and deposit as much³ or as little of your paycheck as you want. The future of payroll is coming.
There are many reasons why customers make frequent transfers into Coinbase: to make short or long-term investments, to earn interest on yield-generating assets, and to fund everyday purchases with Coinbase Card. However, customers tell us that making frequent transfers is time-consuming and inconvenient.
Now, you’ll save time on the extra steps it takes to move money so you can immediately earn interest on your income or earn crypto rewards with your Coinbase Card. Plus, you’ll pay zero transaction fees on direct deposit funds⁴ so you have instant and free access to the cryptoeconomy.
Stay in control of your money by depositing as little or as much of your paycheck as you want. Get paid in any of the 100+ crypto available on Coinbase or in US Dollars. Choose to get paid in crypto so you can make recurring buys or earn interest on your income (by getting paid in USDC, DAI, or other interest-yielding assets), or choose to get paid in US Dollars to be ready for any trade or to spend with your Coinbase Card.
You can set up direct deposit in just a few steps without leaving the Coinbase app. Tap direct deposit in the settings, follow the instructions, and find your current payroll company or employer, and we’ll automatically update your paycheck allocation. If you’d prefer to set up direct deposit manually, we’ll provide instructions on what to share with your HR department or employer payroll website. You can modify your direct deposit preferences at any time within your Settings.
As you begin to do more with your crypto from staking to spending to sending, we’re also making it easier for businesses to pay their employees in crypto. We’ve partnered with a number of companies, including Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs, to allow employees throughout the creator economy and financial services to enter the future of payroll.
Stay tuned for announcements in the coming months as we make it easier for more businesses to pay employees in crypto.