Introduction

The following is a public letter for all to see so there's a record of it on the Steemit blockchain but it will be emailed to Coinbase as a suggestion to work with cryptocurrency related platforms that reward valuable content - such as Steemit, Musicoin, Whaleshares etc.

The Letter To Be Sent

Hello,

I've been brainstorming with a few of my fellow content creators and we realised that one barrier to mass adoption is the way people need to have PhDs in crypto markets to make withdrawals.

We'd like to suggest that Coinbase works with platforms like Steemit, Whaleshares, Musicoin and others to create an easy to use "Withdraw" system that deposits any crypto earnings in to a PayPal address or bank account.

Each of these platforms should have an "account" section where they can easily "withdraw" or "deposit" at the click of a button and all the work of exchanging from the cryptocurrency to PayPal deposit should be done under the hood.

There should also be information like "X tokens = X fiat" so people know roughly how much they will be receiving in PayPal on the withdraw/deposit screen (after a commission payment, which I'm sure people will not mind paying to have instant withdrawals).

This idea was generated from discussions with @davenavarro, @bufinjer, @theturtleproject and written by @nickyhavey and e-mailed to Coinbase after publishing this open letter.

We hope this idea gets adopted and, if developed after Coinbase (or developers any crypto based platform) read through this, any credit that's due will be rewarded fairly to us who generated this idea.

We believe this would open up crypto to more people who are uncomfortable with how complex it is, and it would put Coinbase in the forefront of the crypto market if they developed this.

Yours

Nicky, Turtle, Bufinjer, DSM

Coinbase Response

Well I wasn't expecting a response so soon but fair play to the Coinbase team for getting back in contact with us on this! Here's their response:

If the image isn't clear, it reads:

Thanks for the feedback!

This is a really interesting request, but unfortunately it’s not something we currently offer. Most new features and improvements to Coinbase come directly from feedback like yours, so it’s very valuable to us. I’ve recorded your request so that it can be reviewed by the product manager when planning which features to build next.

While we can’t offer any specific timeline for the addition of new features, we are constantly working to build products our customers will love.

What do you folks think? Let us know in the comments below!