Coinbase today shocked the crypto world as they announced a new Visa debit card for UK customers dubbed the “Coinbase Card”. They say that the card will “allow customers in the UK spend crypto as effortlessly as the money in their bank.”
The introduction of this card marks the first ever debit card in the UK/EU which is linked directly to a major cryptocurrency exchange. User’s of the card will be able to spend their crypto balance in their Coinbase account as the card works in tandem with the desktop application.
There are also plenty of security measures in place to help protect the user’s fund such as the standard two-step verification but also a relatively new feature, seen in apps like Monzo, where you can instantly freeze the card directly from the app if it becomes lost or stolen.
Although this specific card is for UK citizens, the card is ready to use globally and can be accessed through contactless payments, cash withdrawal or pin transfers all over the world.
Coinbase’s reputation was recently thrown into disrepute by the #DeleteCoinbase movement which was sparked by their acquisition of Neutrino – a controversial Italian hacking tool vendor. Many supporters were outraged and decided to delete their accounts in protest of this move.
However, with this new Visa Debit Card announcement, Coinbase are now leading the way by being at the forefront of mass adoption as they explain “Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home.”
Whatever your personal opinion on Coinbase, it’s hard to argue that today will go down in history as a revolutionary moment in the Crypto movement.
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