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Residents Of Britain To Be Able To Pay With Coinbase Crypto Card

12:33 12/04/2019
Coinbase Exchange Issues Visa Crypto Card For British Residents

The popular American exchange Coinbase has launched Visa crypto debit cards with which one can pay in stores or online. They will be connected to user accounts and allow for contactless payment in bitcoins, ethers, and other cryptocurrencies, as follows from the company's blog. One can also instantly convert digital currencies to fiat and withdraw cash from an ATM.

 

For the convenience of users, Coinbase has included mobile banking in an app for iOS and Android. Here they will see statistics on expenses and wallets that can be connected to the card.

 

Transaction fees will constitute 2.49%, of which 1.49% will be charged for converting tokens into fiat, and another 1% — for processing the operation. There are also limits on the card: 10,000 pounds sterling for daily expenses and 500 pounds sterling for withdrawing cash from ATMs.

 

Customers from the UK will be the first to use this service, but in the coming months cards will become available for other European countries. The first 1000 users will receive crypto cards for free, the rest will have to pay about five pounds sterling.

 

The physical cards are issued by Paysafe Financial Services Limited, licensed by US regulators.

 

Earlier, the crypto company issued Coinbase Shift Visa cards, but from April 11 they will be voided due to the termination of service from the Shift Payments project. The reasons for the refusal to support the cards are not specified, but the exchange hopes to resume their release one day.

 

Previously, the Bitrefill mobile service created crypto gift cards for booking accommodation on Airbnb.

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