Coinbase going to launch crypto debit card in USA

Largest cryptocurrency exchange Coinbase is going to launch the crypto visa debit card in the United States of America by next year, reported on 28 October 2020.

Coinbase reportedly said that there is waitlist opened for all U.S. users who wants the coinbase visa debit card and the distribution process will started in the first half of next year. On the other hand, the U.k. and EU users already accessing the Coinbase Debit card service.

Basically, the Coinbase Card is a Visa debit card and it usually allows the customers to spend their cryptocurrency funds directly from their Coinbase account wallets. You can use the coinbase card at any retailer Shop that accepts Visa debit cards.

Most Importantly, the coinbase crypto debit card will come by offering some spending rewards for users where the U.S. users can opt to earn 1% back in bitcoin (BTC) or 4% back in Stellar lumens (XLM). 

“Customers can make everyday purchases like coffee and lunch or can shop online directly with the crypto in their Coinbase accounts,” a Coinbase representative told The Block Media. Further he added, “The utilities for cryptocurrencies are vast and have so much more potential beyond trading and investing.”

Coinbase said it wouldn’t charge any fees if U.S. customers spend via USDC. Non-USDC pays, on the other hand, would be charged a 2.49% transaction fee. There are also no sign-up or annual membership fees for Coinbase Card in the U.S.

There will be $2500 limit on the coinbase Card in the U.S. as per the the Coinbase representative. Whereas, in the U.K. and EU, the limit on the coinbase Card is £10,000 or €10,000, respectively.

Recently, More than $300 billion investment banking giant, JPMorgan is bullish on Bitcoin and called the long term upside potential of Bitcoin.