Bitcoin and other major cryptocurrencies, including ethereum, Ripple's XRP, and litecoin, have long struggled against accusations they are harder to spend and use in the real world than their traditional fiat counterparts...
Share to twitterBitcoin and other major cryptocurrencies, including ethereum, Ripple's XRP, and litecoin, have long struggled against accusations they are harder to spend and use in the real world than their traditional fiat counterparts., has been called too unstable and volatile to be used as a means of payment, resulting in
Coinbase is hoping its Visa debit card gets people using bitcoin and other cryptocurrencies for real world spending.The Visa debit card, which has a £4.95 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.
"This is the first debit card to link directly with a major cryptocurrency exchange, allowing people to spend their crypto balances direct from their Coinbase account," Coinbase said in a statement, announcing the launch of the card."Previously available crypto cards required users to pre-load a specified amount of crypto onto their card, adding a point of friction to the process.
Apto Payments, previously known as Shift Payments, is providing the technology for Coinbase after discontinuing its own Shift Card, allowing U.S. Coinbase users to spend crypto from their accounts, in February.The bitcoin price has been called to volatile to be used as a means of payment—Coinbase is hoping to change that.
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