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Coinbase Card Available in Six New Countries with more to be added

June 12, 2019 | Cryptocurrency

Coinbase card which is a Visa debit card was issued by Coinbase, US-based crypto company, primarily known for its exchange and wallet services for the first time in the UK in April 2019. June 12 onwards, it would be available in another 6 European countries including Germany, France, Spain, Italy, Ireland, and the Netherlands. Customers in these countries will now be able to order the card, according to the announcement made by Coinbase.

 

The company added that in the upcoming months, the card will be introduced to more customers around the globe. They are further planning to introduce brand new features in the card in the coming months.

 

Zeeshan Feroz, Coinbase UK CEO said in an interview with CNBC that they would be focusing on all the key markets including the US for which they need to find the correct banking partners. When asked about the card’s performance in the UK, he refused to disclose the actual results. He surpassed the question by mentioning that the company exceeded the initial 1000 cards offered to the users for free.

 

As per reports, the Coinbase card is equipped with the customer’s crypto balances in the Coinbase account. This enables the customers to make payments both in-store and online using bitcoin, litecoin, and ethereum. While performing a transaction using a Coinbase card, the card instantly converts crypto to fiat currency for completing the purchase. Moreover, the card can also be used for cash withdrawals from ATMs. Coinbase card app manages the operations of the card including instant receipts, spending categories, transaction summaries, etc.

 

In the UK, there is a card issuance fee of GBP 4.95 (USD 6.3). Cardholders can withdraw up to GBP 200 per month for free, above which a sum of 1-2% will be charged depending on whether the cash withdrawal is a domestic or international one. While the domestic purchase transactions are for free, the rest is charged at 0.20%-3%.

 

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