Bitcoin, Ethereum, Ripple, Litecoin, and 7 more Cryptos are set to be available for direct spending following the launch of a Coinbase Crypto Visa debit card.
Coinbase and Visa cooperated in the effort to make the use of Cryptocurrencies in the world as easy as spending fiat currencies.
At this stage, the Coinbase card is available for UK customers before the company expands their card issuance to other countries.
The Coinbase Card Will Redefine The Role Of Cryptocurrencies
According to Billy Bambrough- A Forbes magazine Contributor for Crypto and Blockchain who writes articles of how Crypto and Blockchain can change the world- the use of Bitcoin and other Altcoins as currencies has been largely rejected. This is because the Cryptocurrency market has been often unstable and bearish cycles have been known to depreciate the value of Digital Tokens in minutes.
For this regard, investors have adapted by treating Cryptos as assets which are against the vision of founders of Cryptos such as Satoshi Nakamoto or Roger Ver who envision an alternative currency.
Hence, the recent break out of BTC price beyond the $5,000 level of resistance and the stabilization of the market is expected to change the sentiments among Crypto holders who will readily embrace the card.
Visa Will Offer The Connectivity Infrastructure
Visa-the leading global payments processor- has teamed up with Coinbase to ensure that the card users will have the opportunity to “spend Cryptocurrency as effortlessly as money in their bank accounts.”
Given the fact that Visa has an established global coverage with a secure network of payment solutions, Coinbase will be able to reach a global user base and offer the first truly international Crypto visa card service.
Besides mobile payment services through DApps or QR code-based services, debit cards are still very popular in many parts of the world. This is because they are very convenient to both shoppers and merchants as all that needs to be done is a simple swipe to carry out a transaction.
The Visa Debit Card Is Affordable
The Coinbase Crypto visa card is cheap and can be acquired by all Coinbase user in the UK and other countries at a later date. There is a small card issuance fee of £4.95 ($6.50) that is the standard for a majority of visa cards.
How The Card Works
The Coinbase card will be synced with Crypto account balances so that users can be able to make purchases worldwide. The exchange will convert Tokens to fiat currency so that merchants will be able to receive fiat money.
There is a Coinbase Card app for Android and iOS that clients will use to select the specific Coinbase wallet to link with the Visa card. The app will also provide access to spending history, receipts, transaction summaries, and other features.
Boost To Crypto Adoption
At this point, there is bullish sentiments in the Cryptocurrency market and prices have been at an upsurge. The Coinbase Crypto visa card will play an important role in boosting Crypto adoption as it will revolutionize the use of Digital Tokens in the world.