Coinbase introduces Bitcoin rewards debit card in USA
By Bob Garcia
Following a successful European launch in 2019, Coinbase announced today that Americans can join a waitlist for the US launch of the company’s Coinbase Card. This innovative Visa debit card gives cardholders the ability to spend Bitcoin and other cryptocurrencies at millions of locations worldwide, or anywhere that currently accepts Visa.
Unlike other cryptocurrency debit cards that force users to convert and load funds prior to spending, the Coinbase Card uses money that is already in the user’s Coinbase account. Coinbase will convert the cryptocurrency to US dollars as needed at the time of purchase or when the cardholder withdraws funds from an ATM. The Coinbase Card is compatible with over 30 cryptocurrencies including Bitcoin.
The Coinbase Card also offers a choice of rewards. Cardholders can either receive cashback on spending of either 1% in Bitcoin or 4% in Stellar Lumens. Other rewards are expected to be added.
When announcing the launch of the waitlist, Coinbase CEO Zeeshan Feroz stated, “The introduction of Coinbase Card was a significant milestone in our efforts to create mainstream adoption of crypto as a genuine utility. Today’s announcement is another step forward in the real-world applications of cryptocurrency as it enables more options for Coinbase customers in the US to utilize their holdings.” He went on to remark, “We will continue to build upon our offerings to create the most seamless and useful ways to manage crypto investing and spending for our customers.”
More information about the Coinbase Card can be found at coinbase.