Coinbase provides a consumer digital wallet for sending and receiving Bitcoins and a merchant service for accepting Bitcoin payments. The wallet is linked to US bank accounts, allowing users to buy and sell Bitcoins and have US dollar equivalents deposited into their bank accounts daily.
The stand-alone point-of-sale merchant app can be used online or offline. To receive in-person payments, the merchant enters the amount of the sale on a mobile device to generate a QR code. This code is scanned by the customer’s Coinbase app and the payment is then completed.
In August 2013, Coinbase developed a SMS interface, which allows users to send and receive Bitcoins using text messages.
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