The Xfers Digital Goods wallet is a centralized e-wallet where you can connect to multiple platforms such as Coinbase and Coinhako.
With Coinbase’s announcement to pause their SGD trading services on 15th May till further notice, users can simply signup with Coinhako and connect their Xfers account directly with Coinhako! Apart from that, if you are an existing Xfers verified user, connecting your Xfers account on Coinhako will be a breeze as there will not be a need to submit your verification documents again. Once connected, you will be able to start trading on Coinhako immediately.
This is due to the fact that Coinhako has integrated Xfers on a deeper level where verified users are not required to re-submit verification documents on Coinhako. Over at Xfers, we are providing merchants with solution to improve the KYC (Know-Your-Customer) process where business entities are required to collect identification documents from its customers. This is a necessary process in a global effort to tackle money-laundering and terrorism-financing, but often results in duplicative work for merchants and a frustrating experience for the user, a problem which Xfers is committed to solving. We will be sharing more details on our efforts to provide our merchants with comprehensive KYC solution in a later article.
Should you require further assistance on what to do when Coinbase is down, you may refer to this link.