The biggest crypto exchange in the United States has launched a Visa Debit Card that is connected to the balance on Coinbase.
Currently there’s a waiting time for it with first cards to go out this winter, but there’s cashback of 4% with Stellar Lumen and 1% with Bitcoin.
The card itself costs around $5, and there appears to be a 2.49% “liquidation” fee for crypto payments.
Numerous currencies are available, including BTC, ETH, LTC, BCH, XRP, BAT, REP, ZRX, or XLM.
This is also available in numerous countries, including US and Austria, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the UK.
The card is powered by Paysafe Financial Services Limited which is regulated by the British Financial Conducts Authority.
“A Visa debit card that makes crypto as spendable as the money in your bank, powered by your Coinbase account balance,” they say.
Previously demand for these sort of cards has far outpaced supply with it unclear whether there will be such natural “DDoS” here as well.
Many companies and exchanges that have announced such cards usually find themselves with long waiting queues which they are unable to satisfy for months or even years.
This important piece of crypto infrastructure is making headways however with crypto investing and spending becoming even more convenient by the day.