Popular cryptocurrency exchange Coinbase announced that the Coinbase debit card will be launched in the U.S. this winter.
From the time of the announcement, U.S. customers can join the waitlist so that whenever the Coinbase Card is ready, it will be made available to them. The Coinbase debit card has already been launched in the U.K. and in 30 other countries.
How the debit card will work in the U.S
As a Visa debit card, the Coinbase Card is capable of working with any payment terminal that is compatible with Visa. The cards can also work with ATMs and any online checkout interface. In fact, wherever Visa is accepted, the Coinbase Card will be too. To help you control your cryptocurrency spending, the Coinbase Card is also designed to work with a mobile app.
By making the Coinbase debit card available to U.S. customers, the exchange is letting users have the ability to utilize their holdings. This is a way through which Coinbase can create seamless ways to help their customers invest and spend their cryptocurrencies. When users sign up for the card, a virtual card will be issued to them to be used right away. Two weeks after that, the physical card should arrive in the mail.
Crypto rewards for Coinbase Card
Customers in the United States will be able to earn crypto rewards by using their Coinbase Card for real-world purchases. According to the announcement, U.S. cardholders can earn up to 1% back in Bitcoin and up to 4% back in Stellar Lumens (XLM). One interesting thing is that users can only opt for one reward at a time. Such rewards will be refreshed regularly.
For the card issuance, the customers won’t be required to pay any fee. However, fees for cryptocurrency conversion may apply when required. Coinbase will charge 2.49% for crypto liquidation fees. However, it is important to note that there is a single exception: when customers are using their USDC balance, no fee is paid to spend their USDC stablecoins with the card.
Due to the innovation in its range of products, Coinbase has become a trusted cryptocurrency exchange when it comes to offering crypto financial services. Their consumer offerings, which include Coinbase Card, reward earning, staking, and others, have helped them gain global recognition.
Recently, Coinbase revealed that their customers now have a faster means to withdraw their currencies. This means Coinbase customers can now avoid the wait times that come with withdrawing from the exchange to their bank.
As of the time of writing, the USD Coin price was $0.998835 with a 24-hour trading volume of $432,270,565. It also has a circulating supply of 2.94 billion coins and a market cap of $2,945,251,448. Uniswap is the current most active market trading it.
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