Coinbase launches cryptocurrency debit card in the UK

12 April, 2019, 02:05 | Author: Eric Barnett
  • Coinbase lets UK users spend bitcoins with new Visa debit card

In a big crypto milestone, Coinbase is launching a Visa debit card, allowing users to easily spend their crypto assets, including Bitcoin, Ethereum, XRP and Litecoin.

Purchases can be made in-store using contactless and chip-and-pin, or consumers can make ATM withdrawals of up to £500 a day.

The new mobile application launched by Coinbase for this goal allows using the new card and also trading digital assets on the exchange.


Appropriately enough, the new "Coinbase Card" was announced on the same day that Coinbase's previous attempt at a crypto-to-fiat Visa debit card, the "Shift Card", which was only for USA customers, is supposed to stop working (since that program has now been "retired").

This is the first debit card to link directly with a major cryptocurrency exchange in the United Kingdom and EU.

In a new announcement on April 10, it appears that Coinbase has launched a product that will make the spending of cryptocurrency exponentially simpler - the Coinbase Card. Presumably it just uses whatever the exchange rate is on Coinbase at time of purchase, but I've asked Coinbase to be sure that there are no additional fees and will update this post when I hear back from them. The issuance fee (which Coinbase will waive for the first 1,000 people who sign up for the card) is £4.95. The card users can withdraw up to GBP 200 per month for free, while any amount over that sum is charged 1%-2%, depending on whether it's a domestic or worldwide cash withdrawal. Domestic purchase transaction fees are zero; purchase transaction fee for countries inside the European Economic Area is a reasonable 0.2%, and the worldwide purchase transaction fee is 3% per transaction. Domestic fees per transaction are 2.49% (1.49% crypto conversion fee + 1% transaction fee). It also helps users control their spending by offering transaction lists, instant receipts, etc. "The Coinbase Card will initially be available in the UK with a view to going live, in the coming months, across all European markets in which Coinbase operates", Zeeshan Feroz, Coinbase UK CEO, told Hard Fork.

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