Coinbase’s cryptocurrency debit card debuted in April in the UK and will now be available in France, Germany, Spain, Italy, Ireland and the Netherlands. Bitcoin, ethereum (ETH) and litecoin owners will be able to spend their cryptocurrencies at any store or merchant accepting Visa cards. According to Coinbase, Coinbase Card is the “easiest way” to pay for goods with cryptocurrencies through “instant transactions”. The card is issued for a one-off issue fee of £4.95 (€4.95) and comes paired with a mobile app for tracking payments.
Coinbase UK CEO Zeeshan Feroz said, in his opinion, using the crypto card will be as seamless as buying a cup of coffee with cash.
The Coinbase CEO would not reveal how many cards have been issued to users so far.
He did, however, say the crypto exchange “blew past” the initial 1,000 cards offered to accounts holders for free.
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Mr Feroz also teased there has been an “extremely strong uptake” for the debit card.
The CEO then said Coinbase will look to expand outside of Europe and across the Atlantic.
He said: ‘We will be looking at all of our key markets including the US.”
Despite his positive attitude, the Coinbase Card app on the Apple App Store and Google Play Store has not been as well received, with average ratings of 2.8 out of five stars and 2.4 out five stars respectively.
One positive Google Play review by Shahid Rahman reads: “Initially there was trouble signing up for the free card but eventually got through it.
“My card came really quick and the app works perfectly for me. No issues and the balance is always right.”
Another negative review, by Aaron Norman, reads: “Doesn’t let me fund my account and says insufficient funds, but that is not the case, I’m from the UK, and I can’t seem to get the card.”
Apple users also appear to be experiencing some teething problems with the Coinbase Card app.
A review titled “Glitchy app” by user Terikuridiloveyou reads: “It does not work, every time I try to link my Coinbase account it says I have insufficient funds to pay for the card shipment.
“Since then I have added money over and over again in every wallet and still no luck!”
On the official Coinbase blog, the company said: “From grocery shopping, to cocktails and dinner dates, Coinbase Card has become the go-to card in our customers’ wallets.
“To get started, download the iOS or Android app today and securely sign in using your Coinbase account.
“Once a Coinbase Card has been requested, customers will join the waitlist.
“After the waitlist closes, your crypto balance held on Coinbase will be immediately available to use through the in-app virtual card, and a contactless Coinbase Card will be sent in the post.
“We’re constantly working to make the Coinbase Card experience even better. In the coming months, we’ll be introducing brand new features, as well as bringing the card to even more customers around the globe.”
Coinbase Card first launched in the UK on April 11 this year.
Published at Wed, 12 Jun 2019 20:25:00 +0000