American Stock Exchange Coinbase introduced its own debit card. It is released in the Visa system through the PaySafe payment service. With its help, clients from the UK, we quote: “they will be able to pay with a cryptocurrency as easily as with the money in the account in the bank”.
Coinbase Card is linked to user accounts on the exchange. This allows you to use Bitcoin, Ethereum, Litecoin and other cryptocurrencies for calculations. The card is suitable for paying for purchases in stores, as well as for withdrawing cash from ATMs. When the user works with the card, Coinbase will instantly convert the cryptocurrency to Fiat.
You can order a card through a special application for Android and iOS. With it, customers will also be able to choose which of the wallets they want to use for withdrawing funds, and receive detailed information about their expenses.
The cost of issuing a card for the first thousand users will be equal to £ 4.95. The limit on spending funds per day will be £ 10,000, and £ 500 will be available for cash withdrawal. Transactions will be subject to a commission of 2.49% (1.49% for the conversion of cryptocurrency + 1% for the processing of the transaction). Cash withdrawals over £ 200 per month will also be charged a 1% commission.
The service is available only to residents of the UK, but in the coming months, Coinbase intends to expand it to other European countries.