Coinbase has launched the Coinbase Card, a Visa debit card that lets customers in the UK spend cryptocurrency as effortlessly as the money in their bank.
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“Coinbase Card is currently only available in the UK, but we plan to support other European countries in the coming months,” the company stated in a blog post.
“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, the company instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase.
To help customers manage their spend, Coinbase 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.
The app also offers instant receipts, transaction summaries, spending categories, and more.
To celebrate the launch of Coinbase Card, the company 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.
Once linked, the crypto balance held on Coinbase will be immediately available to use through the virtual card, and their contactless Coinbase Card will be sent in the post.
This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account.