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US customers can now apply for Coinbase Visa, which allows users to spend digital assets wherever Visa is accepted. In addition to launching in the United States, Coinbase cardholders will also be able to earn up to 4% of Stellar or 1% of Bitcoin.
Not long ago, the San Francisco-based cryptocurrency company Coinbase launched the Coinbase Visa debit card for European customers. Coinbase revealed that the card is currently used in 30 different countries/regions in the UK and Europe.
The company announced on Wednesday that US residents can now register the encryption card.
The company announced: “Starting today, U.S. customers can join the waiting list for the Coinbase card, a Visa debit card that can be used to use cryptocurrency in online and in-store payments and purchases and ATM cash withdrawals.” The announcement Explain that the Coinbase card will allow people to use 9 different cryptocurrencies for consumption.
Similar to rival cards from companies such as Crypto.com, American card users will be able to get purchase rewards from Coinbase. The San Francisco Technology Company stated in detail: “At the time of release, customers can choose to earn 4% of Stellar Lumens (XLM) or 1% of Bitcoin (BTC).” Applicants for the US Coinbase card must be fully verified on the system and It will take a while until the company approves it for the first time.
“The first batch of customers will be approved this winter,” Coinbase revealed. “Once customers are approved, they can immediately use the virtual card to spend, and will receive the physical card in the mail within two weeks.”
Coinbase pointed out that the issuance of the card does not require any fees, but may require payment of standard encryption conversion fees. Just like Crypto.com Visa or Bitpay Mastercard, Coinbase cards will also provide virtual cards. The company detailed in the announcement that once users are approved, they can use the virtual Coinbase Visa.
The company also detailed that the card is powered by Marqeta and issued by FDIC member Metabank. The company announcement concluded: “Coinbase will automatically convert all cryptocurrencies into U.S. dollars for purchases and ATM withdrawals.”
According to the company, American residents in all states except Hawaii residents are eligible.
What do you think of the Coinbase Visa card that US residents can use? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Coinbase card,
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