UK customers can purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. through a Coinbase card. It is stated that they can buy and sell all available cryptocurrencies on Coinbase. The card is actually a Visa debit card. It is only available in the UK at current. It will soon be available in other European countries.
Coinbase is a digital currency exchange who has collaborated with an American multinational financial services corporation called Visa Inc. in order to introduce the card. The main purpose of the card is to facilitate the conversion of cryptocurrency into fiat currency.
The Visa debit card has to be linked with Coinbase. Customers can directly spend their cryptocurrency from their Coinbase account through the card.
Coinbase has introduced a Coinbase Card app. The main purpose of the app is to help customers in selecting a crypto wallet. The wallet can be used for funding Visa debit card spending. Instant receipts, transaction summaries, spending categories, etc. are offerings of the app.
The app is available on both version viz., iOS and Android. It has to be downloaded and linked to a Coinbase account. Cryptocurrency which is kept on Coinbase can be used in no time once the account is linked.
A UK-based financial regulatory body called the Financial Conduct Authority authorized Paysafe Financial Services Limited under the Electronic Money Regulations 2011 (FRN: 900015). The purpose of the Paysafe Financial Services authorization is to make them issue electronic money and payment instruments. The Paysafe Financial Services Limited issued the Visa debit card, Coinbase blog on Medium reported.
The digital currency exchange Coinbase was established in June 2012. The aim of the exchange is to set up an open financial system and provide the world with innovation, efficiency, and equality of opportunity than before. It works on two principles viz., to become the most trusted company in this domain and to develop those customer-centric products which are easier and more intuitive in respective to use, according to the LinkedIn profile of Coinbase.
Customers can use the card from millions of locations. They can use contactless, Chip and PIN for payments. They can use ATMs for withdrawing cash.
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