Coinbase Partners with Visa to Launch Card for Spending BTC, ETH, XRP

Coinbase Partners with Visa to Launch Card for Spending BTC, ETH, XRP

It is now only available to customers in the United Kingdom. Furthermore, as soon as customer uses Coinbase's debit card, the exchange instantly covert respective crypto to fiat currency and completes the purchase in no time.

A Coinbase Card app has also been launched which will make managing funds easier.

"This is the first debit card to link directly with a major cryptocurrency exchange in the United Kingdom and European Union, allowing users to spend their crypto balances direct from their Coinbase account".

Indeed, it's fair to say Coinbase has weathered its fair share of criticism in recent months, but all in all, it'd be interesting to see how much uptake this new product - which seeks to simplify real-world cryptocurrency purchases - has among Coinbase's United Kingdom customers. "The app also offers instant receipts, transaction summaries, spending categories, and more". It is available for both iOS and Android. "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".

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Image courtesy of The Coinbase Blog.Should You Let Coinbase Be Your Bank? Also, the company claims, that their clients will be able to dispute a charge, as "Card comes with the same consumer protections as any standard debit card".

This is the first debit card to link directly with a major cryptocurrency exchange in the United Kingdom and EU. Although there are other cryptocurrency debit cards on the market, none of them possess the market share Coinbase has. XRP holders can have streamlined payment system without having to convert their coins into fiat currencies or other tokens - they can simply use their XRP balance and pay for groceries, top up their phone numbers and for various other services.

PaySafe, a United Kingdom payment processor, is the issuer of the cards, a Coinbase spokesperson told CoinDesk. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor.

Images courtesy of Shutterstock.

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