News 
Coin Information 
About us 
With the increasing popularity of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), companies are getting more creative in incorporating crypto into their products and services. For instance, Coinbase is giving users the option of receiving their tax refunds in crypto through a partnership with the tax filing platform TurboTax.
Coinbase has partnered with TurboTax making it possible for its users’ tax refunds to be automatically deposited to their Coinbase accounts. While it will be deposited in U.S. dollars, the crypto exchange can automatically convert the funds to Bitcoin (BTC), Ethereum (ETH), or any crypto supported by the platform at no extra cost.
“With tax season officially underway, customers expecting a refund might be wondering what to do with their extra cash,” Coinbase said in a blog post on Thursday. “Now, Coinbase customers can get tax refunds automatically deposited into Coinbase as USD, where it can be immediately converted into crypto when they file with TurboTax. Customers will receive their full refund and can choose to save, invest, or spend it. Tax season can be stressful, but now there’s an easy way to put refunds to work.”
The National Retail Federation estimates that around 62 percent of taxpayers who are expecting to receive a refund plan to put the money in some form of savings. Only 27 percent plan to use it for everyday expenses.
With its arrangement with TurboTax, Coinbase is making it easier for its users to invest their tax refund into crypto. “Our customers are increasingly thinking about how to incorporate crypto in their savings and everyday spending: putting money towards assets they think will increase in value, holding yield-bearing assets, and spending and earning with Coinbase Visa® Card,” the crypto exchange said. “This year, customers can deposit refunds into Coinbase fee-free to start immediately putting their money to work.“
They can opt to convert the money to Bitcoin (BTC), Ether (ETH), or any of the more than a hundred cryptos supported by the platform. Of course, they can also choose to save it in fiat so they’re ready to make a well-timed trade if needed.
“They can choose to get refunds deposited into 100+ cryptocurrencies from stablecoins to yield-bearing assets so they can trade or earn interest,” the company added. “Or, they can choose to receive refunds in USD so they can be ready for any trade or to spend with their Coinbase Visa® Card (if they choose to spend USD). All incoming tax refunds will be deposited without any fees.”
Comment 45