Only UK customers can purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. on a digital currency exchange called Coinbase through a Coinbase card. It is stated that they can buy and sell all available cryptocurrencies on the exchange through the card. The card is actually a Visa debit card. It will be available soon in other European countries.
Coinbase has collaborated with an American multinational financial services corporation called Visa Inc. in order to introduce the card. A conversion of cryptocurrency into fiat currency will be facilitated through the Visa card.
Coinbase card has to be linked directly with a Coinbase account. Cryptocurrency can be spent directly from the Coinbase account through the card.
A UK-based financial regulatory body called the Financial Conduct Authority has authorized Paysafe Financial Services Limited under the Electronic Money Regulations 2011 (FRN: 900015). Paysafe Financial Services Limited has issued the Visa debit card, Coinbase blog on Medium reported.
The digital currency exchange Coinbase was established in June 2012. It is located in San Francisco, a city in California. Bringing innovation, efficiency, and equality of opportunity than before is an aim of the exchange. 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, according to the official LinkedIn profile of Coinbase.
Coinbase has introduced a Coinbase Card app. A crypto wallet can be selected through the app. The wallet can be used for funding Visa debit card spending. Spending categories, instant receipts, transaction summaries, etc., are offerings of the app. The app is available on both versions viz., iOS and Android. It has to be downloaded and linked to the Coinbase account. Cryptocurrency which is kept on the Coinbase account can be used in no time once the linking is completed.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]