Coinbase Launches Visa Debit Card in the UK

Cryptocurrency exchange Coinbase announced on Wednesday the launch of its Visa debit card in the UK. According to Coinbase, the debit card …

Cryptocurrency exchange Coinbase announced on Wednesday the launch of its Visa debit card in the UK. According to Coinbase, the debit card allows customers to spend crypto as effortlessly as the money in their bank. The card’s description reads:

“Coinbase Card is powered by customers’ Coinbase account crypto balances, giving them the ability to pay in-store and online using bitcoin, ethereum, litecoin, and more. 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.”

Coinbase noted in order to help customers manage their spend, it has also launched the Coinbase Card app, which enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending.

“Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home. The app also offers instant receipts, transaction summaries, spending categories, and more.”

Coinbase also reported to celebrate the launch of Coinbase Card, it is waiving the £4.95 card issuance fee for the first 1,000 people to join the waitlist. Coinbase customers can download the iOS and Android app today and securely link their Coinbase account. Coinbase Card is currently only available in the UK, but Coinbase added that it plans to support other European countries in the coming months.

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Coinbase Introduces Debit Card Linked to Cryptocurrency Balances for UK Customers

Major U.S.-based crypto platform Coinbase has launched the Coinbase Card, a debit card that lets U.K. customers make purchases online and …

Major U.S.-based crypto platform Coinbase has launched the Coinbase Card, a debit card that lets U.K. customers make purchases online and in-store using cryptocurrency.

The new card will link the customers’ crypto balances held on the Coinbase platform with their debit cards — converting crypto holdings into fiat currencies to complete each transaction.

The Coinbase card gives users the ability to make payments via “contactless, Chip and PIN, as well as cash withdrawals from ATMs,” an official press release from the exchange states.

The debit cards will be issued by Paysafe Financial Services Limited, a U.K.-based financial services firm regulated by the Financial Conduct Authority (FCA).

Per the release, the Coinbase Card can be used by users irrespective of the token in their portfolio.

“Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home,” the company notes.

In an interview with The Next Web, CEO of Coinbase U.K. Zeeshan Feroz said the debit card would have a maximum daily spend of £10,000 (~$13,000 USD) and withdrawal limit of £500 (~$650). Each transaction will be subject to a 2.49 percent fee. Local ATM withdrawals of up to £200 ($260) per month will be free; while higher amounts would be subject to a 1 percent charge.

Coinbase also announced the launch of the Coinbase Card App in the release. The Card App is an expense management app for iOS and Android-based devices. The app allows customers to choose the specific crypto wallet to fund purchases made with the Coinbase Card.

It will also provide U.K. users access to transaction records and summaries, receipts on purchases, spending categories and more.

For now, the Coinbase Debit Card is only available to clients in the United Kingdom. However, the exchange confirmed in the blog post that they would be supporting other European countries “within the coming months.”

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Coinbase Visa Debit Card Now Available to UK Customers

The card app allows users to choose which cryptocurrency wallet they will use to fund their Crypto Card purchases. The blog post added that:.
coinbase debit card

US-based cryptocurrency exchange Coinbase has made its Coinbase Card available to customers in the United Kingdom.

The Visa debit card will enable Coinbase users to spend cryptocurrencies effortless in millions of locations around the globe.

Coinbase Card Made Available to UK Customers

San Francisco-based cryptocurrency exchange, Coinbase, announced a few hours ago that it had launched its Coinbase Card in the UK. According to the official blog post, the Coinbase Card is a Visa debit card designed to allow customers to spend cryptocurrencies effortlessly in millions of stores and online platforms across the globe.

The debit card is powered by the crypto balances of customers’ accounts, allowing them to pay for goods and services using BTC, ETH, XRP, LTC, and other supported cryptocurrencies. UK customers can use the debit card to make payment via contactless and Chip and PIN methods. The card can also be used to withdraw fiat currency from ATMs. According to Coinbase:

“When customers use their Coinbase Card, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase.”

Coinbase Launches Card App

The development team launched the Coinbase Card app to help customers manage their spending. The card app allows users to choose which cryptocurrency wallet they will use to fund their Crypto Card purchases.

The blog post added that:

“Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home. The app also offers instant receipts, transaction summaries, spending categories, and more.”

The Coinbase Card is the first debit card in the UK and EU that is associated with a significant cryptocurrency exchange. While the Coinbase Card is only available to UK customers at the moment, the cryptocurrency exchange expressed its desire to roll out support for other EU countries over the next few months.

We’re excited to announce Coinbase Card, a Visa debit card that lets UK customers spend crypto as effortlessly as the money in their bank. Available today in the UK, and in the EU in the coming months. We’ll look to expand internationally later this year. https://t.co/Yf36PL57S8pic.twitter.com/2LJRj49Y60

— Coinbase (@coinbase) April 11, 2019

Coinbase added that it is forfeiting the £4.95 card issuance fee for the first one thousand people to join the waitlist for the card. The Coinbase Card app is available for both iOS and Android smartphones. When a Coinbase account is linked on the mobile app, the crypto balance will be available to users via their virtual and physical cards.

The Coinbase community is excited by this latest development as they believe it will help with the adoption of the cryptocurrencies. Meanwhile, EU users are anticipating the availability of the Coinbase Card service in a few months.

Coinbase Pro Adds EOS, REP, and MKR to Trading Platform

On April 8, Coinbaseannounced that trading of EOS, REP (Augur’s native coin), and MKR (MakerDao) would be supported on Coinbase Pro, its professional trading platform. The tokens were made available in all jurisdictions with the exception of New York State.

Coinbase revealed that EOS and REP would have BTC, USD, and EURO trading pairs while MKR can be purchased using BTC and the USDC stablecoin.

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Coinbase Launches Cryptocurrency-Based Visa Debit Card

The cryptocurrency exchange Coinbase has recently revealed that it is now launching a Visa debit card. Specifically, this card will allow customers …

The cryptocurrency exchange Coinbase has recently revealed that it is now launching a Visa debit card. Specifically, this card will allow customers within the United Kingdom and the European Union to spend their cryptocurrencies directly from their Coinbase accounts.

Coinbase Card will allow customers to spend crypto ”just like money in the bank”

Moreover, Coinbase revealed this news in a blog post this past Wednesday. In the announcement post, Coinbase noted that customers with the ”Coinbase Card” will have the ability to spend cryptocurrencies such as Bitcoin, Ethereum, Litecoin or others just as effortlessly as if the cryptocurrencies had been fiat money in a regular bank.

Furthermore, transactions will work so that cryptocurrencies are ”instantly” converted into fiat currency once the debit card is used to pay for a purchase. The card will feature support for contactless NFC payments, as well as using either chip or PIN, and will support ATM cash withdrawals.

Ledger Nano S - The secure hardware walletLedger Nano S - The secure hardware wallet

In addition to this, Coinbase notes that the card will reportedly be able to use in conjunction with all the cryptocurrency coins available on Coinbase.

As such, the announcement reports that customers will subsequently be able to ”pay for everyday purchases” like booking train tickets or buying a meal.

Previously, there have been similar types of cryptocurrency card products available – however, these have required customers to pre-load a specific amount of cryptocurrency onto the card in order to spend it.

This could make cryptocurrency usage dramatically easier

Along with the launch of this Coinbase Card, Coinbase is also rolling out a dedicated application, which will allow customers to specify what cryptocurrency wallets should be connected to their Coinbase Card purchases.

What’s more, the application will allow users to receive instant receipts of purchases, transaction summaries, access to spending categories to better overlook purchases, and more.

Furthermore, Coinbase has also revealed that the first 1,000 people who join the waitlists for the Coinbase Card will not need to pay the issuance fee normally associated with the card, in an effort to ”celebrate the launch of Coinbase Card.”

The issuance fee is otherwise listed as being £4.95. The card is launched together with Visa, and is currently only available in the United Kingdom – but Coinbase plans to support other European countries in ”the coming months.”

This foray into more traditional payment technology is notable, seeing as it could potentially open up cryptocurrency payments to a large swath of users who cannot wait for mainstream acceptance of cryptocurrency payments for everyday purchases.

Coinbase Card image courtesy of the company

Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.

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Coinbase Card launched to offer alternative cryptocurrency payment method

The “Coinbase Card” allows users from the United Kingdom to pay with their supported cryptocurrency assets. As Coinbase declared, this new feature …

Cryptocurrency exchange Coinbase has announced the development of a cryptocurrency Visa credit card.

The “Coinbase Card” allows users from the United Kingdom to pay with their supported cryptocurrency assets. As Coinbase declared, this new feature offers cryptocurrency payments for in-store and online merchants.

The first 1,000 free Coinbase Cards have now been claimed by UK customers. If you still want your card today, join the waitlist and be among the first to receive their Contactless Visa debit Coinbase Card. https://t.co/1mk6wMeQoypic.twitter.com/DJrhOs7V6o

— Coinbase (@coinbase) April 11, 2019

Coinbase stated that:

“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. “

Furthermore, the Coinbase Card comes with an associated app for iOS and Android systems. The app allows customers to choose which wallet they will use for the payment.

Currently, the card is only available in the United Kingdom although Coinbase is planning to expand the card service and app features to other European countries within the upcoming months.

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