Much like a banking app from Chase or Bank of America, Coinbase offers the Coinbase Card app, which means that the user can choose from any of their applicable wallets to perform their spending.
"Coinbase Card is powered by customers' Coinbase account crypto balances, giving them the ability to pay in-store and online using bitcoin, ethereum, litecoin, and more", the company said, adding that during a transaction they "instantly" convert crypto to fiat currency, such as GBP, which is used to complete the purchase.
At this stage, it's available for the United Kingdom clients, only, while other unspecified European customers might be supported in the coming months, the company said in a blog post.
Coinbase has announced the launch of a new crypto debit card in the UK.
Ji'an-Manpo Highway Port: China and North Korea open new border crossing
Japan has had unilateral sanctions in place against North Korea ever since Pyongyang's first nuclear arms test in 2006.
Nearly half United Kingdom companies failed to narrow gender pay gap
He added: "In the past year we've had more males employed in technical roles, which accounts for the larger year on year gap. Industry analysisThe highest median gender pay gap exists in Construction (24.35 percent) followed by Finance (23.9 percent).
New Zealand Votes For Gun Law Changes After Christchurch Attack
Anyone who retains such a weapon after the law formally passes on Friday faces a penalty of up to five years in prison. Brenton Tarrant, 28, a suspected white supremacist, was charged with 50 counts of murder after the attack on 15 March.
The card supports all crypto assets available to buy and sell on the Coinbase platform, and customers can use them to pay for everyday purchases, such as a meal or booking tickets, according to the announcement.
The card is issued by Paysafe Financial Services Limited, which is fully authorized by the Financial Conduct Authority.
There will be a £4.95 issuance fee. Coinbase customers can download the iOS and Android app today and securely link their Coinbase account. However, to celebrate the launch of Coinbase Card, the issuance fee will be waived for the first 1,000 users to join the waiting list. Reportedly, this is the first Coinbase's crypto-enabled debit card for United Kingdom and European Union residents - however, presently, it is available only in the UK. The company said it plans to support other European countries as well, but the timeline is a bit murky: The press release Coinbase sent Mashable said "next month", while the company's blog post says "in the coming months".
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.