Coinbase card

[Julian_Williams]

 

Interesting they fight shy of mentioning XRP even though it is included (I have heard)

https://blog.coinbase.com/spend-your-crypto-instantly-with-coinbase-card-4c840e59a8d8

 

 

 

Quote

 

We’re excited to announce the launch of Coinbase Card, a Visa debit card that lets customers in the UK spend crypto as effortlessly as the money in their bank.

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. Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. When customers use their Coinbase Card, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase.

To help customers manage their spend, we’ve also launched the Coinbase Card app, which enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending. 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. The app also offers instant receipts, transaction summaries, spending categories, and more.

To celebrate the launch of Coinbase Card, we’re waiving the £4.95 card issuance fee for the first 1,000 people to join the waitlist. Coinbase customers can download the iOS and Android app today and securely link their Coinbase account. Once linked, the crypto balance held on Coinbase will be immediately available to use through the virtual card, and their contactless Coinbase Card will be sent in the post.

This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account.

Coinbase Card is currently only available in the UK, but we plan to support other European countries in the coming months. To find out more about the Coinbase Card, there’s more information on the website.

This card is issued by Paysafe Financial Services Limited. Paysafe Financial Services Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011(FRN: 900015) for the issuing of electronic money and payment instruments.

 

 

Edited April 11, 2019 by Julian_Williams

[Live4xrp]

18 minutes ago, Julian_Williams said:

... is included (I have heard)

...Can you elaborate?

[mistatee2000]

47 minutes ago, Live4xrp said:

...Can you elaborate?

You are right, XRP isn't specifically mentioned, but should be covered by 

 

1 hour ago, Julian_Williams said:

Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform

as per the announcement from Coinbase, unless you tell me that it is an assumption too far

[Julian_Williams]

2 hours ago, Live4xrp said:

...Can you elaborate?

I do not know if thsi is a trustworthy source:

https://www.forbes.com/sites/billybambrough/2019/04/10/coinbase-and-visa-are-making-bitcoin-ethereum-ripples-xrp-and-litecoin-payments-a-reality/#30c063705943 

Edited April 11, 2019 by Julian_Williams

[opaopa]

Why would anyone want to maintain a balance of crypto on coinbase, only to be able to use this card? Am i missing something, does anyone see a benefit in having this card?

[Zedy44]

32 minutes ago, opaopa said:

Why would anyone want to maintain a balance of crypto on coinbase, only to be able to use this card? Am i missing something, does anyone see a benefit in having this card?

If they offer some kind of rewards benefit similar to certain credit cards it might encourage folks to utilize their crypto holdings and/or maintain a holding with Coinbase.  That's about the only thing I can think of.  Or Coinbase begins to offer some kind of interest-based product in conjunction with the card so people feel they aren't wasting their money with the product.

[Julian_Williams]

1 hour ago, Zedy44 said:

If they offer some kind of rewards benefit similar to certain credit cards it might encourage folks to utilize their crypto holdings and/or maintain a holding with Coinbase.  That's about the only thing I can think of.  Or Coinbase begins to offer some kind of interest-based product in conjunction with the card so people feel they aren't wasting their money with the product.

Coinbase seem to be floundering about looking for ways to keep relevant whilst the world around them overtakes them?  .....but it does convert to fiat when used just like a usual visa card.

 

Quote

The Visa debit card, which has a £4.95 ($6.50) card issuance fee, can be used to spend Coinbase bitcoin, ethereum, Ripple's XRP, and litecoin balances "in millions of locations around the world," by converting the cryptocurrency to fiat when the card is used—the merchant or store gets paid in traditional fiat currency.

 

Edited April 11, 2019 by Julian_Williams

[xrp-pat]

2 hours ago, opaopa said:

Why would anyone want to maintain a balance of crypto on coinbase, only to be able to use this card? Am i missing something, does anyone see a benefit in having this card?

Could be useful in the next bullrun. Use it to buy your lambo! Much quicker than cashing out.

[Milly238]

30 minutes ago, xrp-pat said:

Could be useful in the next bullrun. Use it to buy your lambo! Much quicker than cashing out.

now you're talking.  no need for a "black card" ill take the blue one

[opaopa]

1 hour ago, xrp-pat said:

Could be useful in the next bullrun. Use it to buy your lambo! Much quicker than cashing out.

Imagine the fees of coinbase and visa combined though. 

[xrp-pat]

 

3 hours ago, opaopa said:

Imagine the fees of coinbase and visa combined though. 

Ahhh, but imagine not being able to cash out because exchanges are overloaded!  That's one hit I'm prepared to take

[whiteout]

Most car dealerships put a 10K cap on charge card purchases from my experience