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US customers can now apply for Coinbase Visa, a card that allows users to spend digital assets wherever Visa is accepted. In addition to the US launch, Coinbase cardholders will be able to earn up to 4% in stellar or 1% in bitcoin.
Some time ago, San Francisco-based cryptocurrency firm Coinbase launched the Coinbase Visa debit card for European customers. Coinbase revealed that the card is now being exploited in 30 different countries in the UK and Europe.
On Wednesday, the company announced that American residents can now sign up for the crypto card.
“Starting today, customers in the United States can join the waiting list for Coinbase Card, a Visa debit card that allows cryptocurrencies to be used for online and in-store payments and purchases, as well as ATM cash withdrawals,” he said. announced the company. The announcement explains that the Coinbase card will allow people to spend with nine different cryptocurrencies.
Similar to competing cards from companies like Crypto.com, US card users will be able to get rewards for purchasing from Coinbase. “At launch, customers can choose to earn 4% in stellar lumens (XLM) or 1% in bitcoin (BTC),” explained the San Francisco-based tech firm. American Coinbase card applicants must be fully verified on the system and there will be a waiting time until the company makes its first approvals.
“The first customers will be approved this winter,” Coinbase revealed. “Once customers are approved, they can instantly spend with a virtual card and will receive a physical card in the mail within two weeks.”
Coinbase notes that no fees are required for issuing the card, but standard crypto conversion fees may apply. Just like the Crypto.com Visa or Bitpay Mastercard, the Coinbase card will also provide a virtual card. The company explained during the announcement that users can use the virtual Coinbase Visa as soon as they are approved.
The company further explains that the card is provided by Marqeta and issued by FDIC member Metabank. “Coinbase will automatically convert all cryptocurrencies into US dollars for use in ATM purchases and withdrawals,” concludes the company’s announcement.
According to the company, US residents of all states are eligible except Hawaii residents.
What do you think of the Coinbase Visa card made available to US residents? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Coinbase Card,
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