The American stock exchange Coinbase has released a cryptocurrency debit Visa card called Coinbase Card. You can use it to pay for purchases and to withdraw cash at ATMs worldwide.
Account Coinbase Card tied to the balance of the user on the exchange Coinbase. At the time of use of the card, there is an instant conversion of digital assets in Fiat currency. For example, if your crypto coins stored Bitcoin (BTC), they will be converted to dollars when you withdraw money from an ATM.
Company Coinbase has released a mobile app Coinbase Card with the following functions:
- Reporting on remittances;
- the preservation of transactional data;
- notifications will be sent.
At the moment, Coinbase Card can only be citizens of the UK, however, the representatives of the exchange said that in the future they plan to release a map for residents of other States. Given the fact that Coinbase provides services for the cryptocurrency trading to citizens of Russia and accepts deposits in roubles, with high probability, the exchange will issue Bank cards to the Russians. So if you are interested in reliable cryptocurrency debit card, I advise you to follow closely the publications Coinbase.
News about the release of card Coinbase commented Vice-President of research company Gartner's Aviva Litan: "In my opinion, cuitavalta payments will not be popular in the USA or Europe. The increased demand for digital assets is observed in countries with unstable economies, so Coinbase Card is of interest to residents of African countries, Russia and Venezuela".
Coinbase Card was developed jointly with specialists of the banking payment system Visa. I'm sure you're surprised by the phrase "to instantly convert crypto currency", because the confirmation of the transaction in the blockchain takes some time, in some cases it takes hours. So if you pay off the purchase in the shop in Bitcoin, the money to the seller do not come immediately, but only after the network verifies the transfer. However, the transaction with Coinbase Card will be executed instantly due to the fact that the Visa system will immediately transfer the money to the Bank account of the payee.
On the Coinbase exchange you can store 11 cryptocurrencies:
- Bitcoin (BTC);
- Ethereum (ETH);
- Bitcoin Cash (BCH);
- Litecoin (LTC);
- Stellar Lumens (XLM);
- Ethereum Classic (ETC);
- Zcash for (ZEC);
- Basic Attention Token (BAT);
- USD Coin (USDC);
- Ox (ZRX).
Thus, the map Coinbase Card allows you to spend 11 different virtual currencies anywhere in the world that accept Visa debit cards. At the moment is the best offer on the market, so experts predict a high demand for Coinbase Card.