Coinbase is a known name in the cryptocurrency space and a major cryptocurrency exchange from the USA. It has launched the Coinbase Card to enable it's United Kingdom based customers make payments online as well any store purchases using cryptocurrency.
Most cryptocurrency debit cards are generally powered by Visa and Mastercard. Coinbase Card is powered by Visa and therefore it will basically allow Coinbase's customers from UK to use their cards worldwide.
Coinbase Card also has an app available on iOS and Playstore which makes it possible to securely link your Coinbase account with the card. Any cryptocurrency balance available in the Coinbase account, supported by the platform will be available for use when making purchases with the card.
The card itself is a new modern contactless type and will use any balance in the customer's Coinbase account for spending.
According to the official release, "Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. When customers use their Coinbase Card, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase."
These moves will help get their customers to freely use cryptocurrencies for spending anywhere, anytime. Coinbase is currently waiving the card issuance fee of £4.95/card for the first 1,000 people joining the waitlist for the crypto debit card.
This card is issued by Paysafe Financial Services Limited. Paysafe Financial Services Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011(FRN: 900015) for the issuing of electronic money and payment instruments.
As a cryptocurrency enthusiast I'm quite envious of countries with sound policies that allow its citizens to use disruptive new technologies to empower themselves. It's impossible to get such a debit card in India as all providers have shut down shipments to India owing to our regressive policies.
I hope to own such a card and use it in India someday!
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Just got back from a 5 day trek without internet and this was the first email I saw on my return. Exciting news!
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Oh wow! That's wonderful. Where did you trek? :)
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Currently in Nepal, just back to the second city of Pokhara after a fantastic few days on a 4 Night / 5 Day trek to Poon Hill and Maulde Peak. Nice to have a break from the Internet for a few days but as I say, coming back to the Coinbase email was nice too!
Won’t be back in the UK for a while, but may well sign up to be on the waiting list. Will you apply for one, or do you already have a similar one such as Wirex?
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Hmmm. I may get one since I’m already on Coinbase and they’ve already sold my personal data anyway 😂
I’d still rather trade the crypto myself. I can imagine the visa rate won’t be that good.
But this is a good step in moving crypto along into the mainstream.
Now Coinbase needs to list Steem!
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hiee @firepower sir 🙋♀️
thats gr8t news for Ukians... may this service available in india soon... I know this take time in India... but b positive... 🤞 always hope for the best...
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I don’t generate enough funds yet to warrant a card. But hope to build up to it b
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Bitpay already provide Bitcoin based VISA debit for Selected countries, As an Exchange It is a Big news, It will bring Crypto to more close to people so that we can use it as fiat currency.
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Personally I would rather use Wirex. I have been using it for a year and had no problems and its security is know 💯🐒
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No need to be too jealous - you log in to coinbase, no reference to the card, you contact support they send you to a dead web site.
So far, so crap.
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You should check out 2gether — the first crypto card backed by Visa! We're currently live in the Eurozone and we have zero fees from our end. Give us a try and tell us what you think! Website
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Watch my new video review of the new Coinbase card
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