Crypto Debit Card Rolled Out By Coinbase For UK Customers

News | April 11, 2019 By:

Crypto exchange and wallet Coinbase has teamed with global payments processor Visa to launch a debit card that allows users to spend cryptocurrencies.

In a blog post, Coinbase said that Visa debit card, called Coinbase Card, will allow customers in the UK to spend their bitcoin, ether, Litecoin and other cryptocurrencies “as effortlessly as the money in their bank.” According to Coinbase, the debit card supports all crypto assets available to buy and sell on its platform.

“Coinbase Card is powered by customers’ Coinbase account crypto balances, giving them the ability to pay in-store and online using bitcoin, ethereum, Litecoin, and more,” Coinbase said. “Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. When customers use their Coinbase Card, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase.”

The exchange also launched a Coinbase Card mobile app to help customers manage their spend. The app will enable customers to select which of their crypto wallets they will use to fund their Coinbase Card spending. It also offers instant receipts, transaction summaries, spending categories, and more.

Currently, Coinbase Card is only available in the UK, but Coinbase said it plans to support other European countries in the coming months. To celebrate the launch of Coinbase Card, Coinbase said it is waiving the £4.95 card issuance fee for the first 1,000 people to join the waitlist.