Cryptocurrency is evolving, and a lot of crypto-based platforms are evolving with it. Coinbase, a crypto exchange has decided to extend its crypto tentacles to 6 different European countries. The crypto exchange has a Visa debit card service that it is introducing to these six European countries, hence it will allow customers spend their cryptocurrencies.
Coinbase Visa Card Update / Review
On 12th June, a report from CNBC indicated that the Coinbase Visa debit card has been made available to users in the Netherlands, Ireland, Spain, France, Germany, and Italy. The availability of the card will make it easy for the customers to make payments for purchases and transactions with the aid of the debit card. Digital assets that can be used for the payments include Ethereum, Bitcoin and Litecoin. Furthermore, the cards can be used for both online purchases and transactions, and also at physical stores where the Visa card is accepted.
Back in April, Coinbase launched the first crypto Visa debit card, however, it was not for everybody, as it was exclusively created for the exchange users in the United Kingdom (U.K.). The C.E.O. of Coinbase U.K., Zeeshan Feroz did not say how many users had gotten the debit cards between April and June, however, while in an interview with CNBC, Feroz said the users of the cards had gone beyond 1000, which was the initial number of cards that the customers received for free. It is indicative of the fact that a lot of the Coinbase customers had an increased interest in the cards, as it facilitated ease of use of cryptocurrencies. Furthermore, the interest in the crypto Visa debit cards means that a lot of businesses and stores have begun to accept cryptocurrency as an alternate means of payments, and that goes to say that the move to mass adoption is well underway.
According to previous reports, Coinbase cards are designed such that they are integrated with the Coinbase mobile app that is available for both iOS and Android devices. Hence, customers have the ability to identify and select the cryptocurrency they would prefer to use for different purposes including for transactions and other forms of payments.
Customers on the platform do not make direct payments to the merchants, rather, they get charged by Coinbase to convert their digital assets into fiat currency to facilitate transactions while using the cards.
It may interest you to know that Coinbase has partnered with PaySafe, which is a payment processor that is based in the U.K., and they are in charge of issuing the Visa debit cards.
A lot of growth and expansion is happening in the crypto world, as more businesses and companies are hopping on the trend. Hopefully, more companies and businesses will move for its adoption in the near future, and then we will have a mainstream means of payment that is entirely different from the traditional methods we have. If Coinbase can expand its Visa debit card usage to different parts of Europe, perhaps other crypto exchanges will come up with more innovations.
