Coinbase Just Launched A Crypto To Fiat Visa Debit Card In UK

in #steemit5 years ago

According to Coinbase's official blog, there is a new VISA card now (available to UK residents only, for now), which allows you to spend your Coinbase crypto directly, or to convert it to fiat.

There is a 4.95 pounds card fee to be paid, if you want one, but if you're lucky enough to be amongst the first 1,000 customers, the fee will be waived.

Spending limits are somehow similar with other players (like TransferWise or Revolut): you can withdraw up to 200 pounds per month without fees and the daily transaction limit is 10,000 pounds. Transactions are not incurring any fees, but if you want to revert a transaction, you'll have to pay 20 pounds. The crypto to fiat bridge means that if you choose to pay with crypto, there will be an instant conversion at the market place, and your crypto wallet will be debited instantly.

Coinbase said it has plans to add more EU countries soon.

All in all, I think this is a very good move, the only thing that made me raise my left eyebrow was the choice of UK as an entry point. With all the Brexit uncertainty and stuff, it doesn't look like a very stable place. But, who knows, it may be precisely because of the Brexit that Coinbase chose UK: as the pound will crash, people may move all their assets into crypto.

In pure English way, let's all welcome this with the standard greeting: "Well, dear, whatever...".


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.


Dragos Roua


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@dragosroua,
I wish one day they will add Sri Lanka also into this list! Otherwise it might be a myth to buy crypto these days with Central Bank rules!

Cheers~

It is true that choosing the UK as the entry country may not be the best decision at the present time but they probably started working into this direction long ago when Brexit was not so "clear". I would like to see how long it takes them to add other European countries.

It is good to see them still investing in new platform

Posted using Partiko Android

In crypto space Bitcoin base Visa debit card it not a new thing, Bitpay provide Bitcoin based Visa Debit card to selected countries.

As a Big Exchange, Coinbase Decision is really appreciated, Now people can use Crypto like Fiat currency. I hope when in India this things will happen, because major portion of population not aware about crypto, I am happy, In India organization are talking about blockchain technology to solve the problem.

Really amazing development. I only dreamed that if in a my country could also use a coin base as a visa credit card. but it looks like it's still a long way to be realized ... How lucky you are to live in UK, friend.

Big players now looking to go big this is the time to hit it hard coinbase doing just that great to see that :D

Yeah Im sure they either received some kickback from the government for choosing the uk or they think it will be the easiest place to implement and prove.

Im sure it will be easier to expand if you have a successful launch and jump over all your initial hurdles.

Posted using Partiko Android

Great development.
The growth of crypto can not stopped

Well, I didn't get in to the first 1,000, so, whatever. I already have a Wirex card and have been using this (VERY irregularly) for a long time. I'm probably not going to pay for a card any time soon. I do see this as an exciting development though, of course.

Posted using Partiko Android

Wirex recently suspended their crypto to fiat exchange operation, so you might want to look for some other options.

Ah! Goes to show how often I use that kind of service at the moment. Coinbase will have more power to fill the gap I should think

Posted using Partiko Android

This is something I've been waiting for for a while. A huge step towards proper usability of crypto.

Posted using Partiko Android

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