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Cryptocurrency platform Coinbase announced Wednesday its Coinbase Card made its US debut Coinbase reported that the card allows the use of cryptocurrencies for online and in-store payments and purchases, as well as ATM withdrawals.
“The introduction of Coinbase Card was a milestone in our efforts to create mainstream adoption of crypto as a true utility. Today’s announcement is another step forward in real-world applications of cryptocurrency as it enables more options for Coinbase customers in the US to use their holdings. We will continue to build on our offerings to create the simplest and most useful ways to manage cryptocurrency investments and spending for our customers. “
Features of the Coinbase Card include:
- Spend cryptocurrencies wherever Visa debit cards are accepted, around the world: Coinbase cardholders can spend directly from their Coinbase accounts without having to move funds to their bank accounts. The cryptocurrency is converted to US dollars before completing purchases and ATM withdrawals².
- Earn up to 4% in cryptocurrency rewards: Earn rewards using cryptocurrency through daily shopping. At launch, customers can choose to earn 4% in Stellar Lumens (XLM) or 1% in Bitcoin (BTC).
- Paper handling: Manage your spending preferences and rewards directly through the Coinbase³ app. Customers can choose to spend stablecoins such as USD Coin or other specific cryptocurrencies at the touch of a button.
Coinbase Card is currently available to customers in nearly 30 countries, including the UK and across Europe. The rewards program will initially only be available to customers in the US Coinbase has noted that there is no issuing fee for the card; however, cryptocurrency conversion fees may apply. Customers in the United States can join the Coinbase Card waiting list Here.
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