The biggest hurdle for Bitcoin is that it is hard to use as a currency. While there was a long-held desire to one day consume bitcoin online in every store, it is clear that there is still a long way to go before virtual currencies and real life can be combined. As one of the world’s leading bitcoin wallet companies, Coinbase is a solid step down this path.
On October 29, it was reported that Coinbase would launch its Visa debit card in the US early next year. The card will be available in all U.S. states except Hawaii, with new rewards features. The Coinbase card has been available in the UK and the EU since April 2019 and is currently operating in 30 countries or territories.
This debit card is referred to as a Coinbase card, which allows customers residing in the European Union or the European Community to use multiple cryptocurrencies. COINBASE card, a VISA debit card that can be used for payments, online shopping, in-store purchases and ATM withdrawals.
Coinbase’s membership is an evolution of Coinbase’s current relationship with Visa, the cryptocurrency exchange that now offers Visa-based debit cards.
Coinbase announced that U.S. customers can now join its Coinbase card shortlist, allowing customers to consume cryptocurrency anywhere they accept a Visa card. Coinbase claims that this is “the easiest and fastest way to consume cryptocurrencies around the world.” Until now, the map has only been used in Europe.
In the United States, customers receive a virtual card immediately after registration and a physical card within two weeks. In this way, people do not have to convert cryptocurrencies into cash when they spend money in shops. Of course, you must have a verified Coinbase account to use the card to meet the sincere. While debit cards are still limited in some overseas transactions or ATMs, they are much more convenient than bitcoin wallets when shopping in offline stores.
There are many debit cards around the world that allow you to consume cryptocurrency (and PayPal will soon be available), but many platforms require you to load the money onto the card to consume. The Coinbase card cuts out the middleman and pulls money directly from a user’s Coinbase account. Other CARDS can only use one or more currencies, and the Coinbase card supports nine currencies (convert all of them into DOLLARS before completing the purchase and ATM withdrawal).
The Coinbase Visa card also has an optional incentive program (currently only available to U.S. customers). In Coinbase’s app, cardholders will be able to track recent transactions and reward revenue, and manage reward currencies there.