SIGN UP LOG IN
 

Coinbase introduces Visa credit card with cryptocurrency

Published by

July 8, 2019 5:43 pm

Coinbase introduces Visa credit card with cryptocurrency

When people talk about cryptocurrencies like Bitcoin, they usually immediately have the object of speculation in their minds. However, the technology was introduced to facilitate payment.

Coinbase is a company that has focused on its origins. The linking of the virtual credit in the form of Bitcoins can be retrieved here via a Visa credit card. In this way, the cryptocurrency could be used in everyday life.

The model project was recently launched. The crypto credit card is already in use in Great Britain. The idea has been seen as a successful concept. Because now the model is being extended to six more nations in Europe. Spain, France, Italy, Ireland, the Netherlands and Germany would like to serve Coinbase with its concept.

Cryptocurrency: Out of the niche, into everyday life

What is currently the biggest problem with cryptocurrencies? They are very difficult to use! Whether we are at the checkout in the supermarket, at the bar in the hotel or even at the hairdresser at the bar, there are different payment methods available to us. Only the Bitcoin is usually not among them. So what does it take to use the Bitcoin or any other virtual currency for traditional payment? A link has to be created.

This can access the Internet account and retrieve the stock of Bitcoins there. But before that, the image that cryptocurrencies are a pure speculation object has to come out of people’s minds. In fact, this step will not be that easy at the moment. Because anyone who took the lowest entry and the highest exit with them this year was able to increase their use and 270 per cent. Anyone who paid in 10,000 euros could pay out 27,000 euros.

Meanwhile, some large US companies accept the Bitcoin as payment method. These include Whole Foods, Crate and Barrel. There have already been speculations that Amazon will open the gates to cryptocurrencies in the future. This would be a big step for virtual payment. But how did the rumours come about? In principle, we have already mentioned the answer. Whole Foods accepts payment with cryptocurrency. The company belongs to the Amazon Empire. So it might be a model experiment to see to what extent payment via Bitcoin, Ethereum and the like is already widespread among actual customers. With a crypto credit card, paying with virtual coins could grow faster than previously assumed.

Satoshi Nakamoto is considered the founder of the cryptocurrency Bitcoin. It is well known that this is only a pseudonym. The Australian Craig Wright has now been registered as the author of the original study. Since it was probably a joint project, there is currently speculation as to whether co-authors will also take the floor.

Coinbase launches a cryptocurrency credit card in Europe

Through cooperation with Visa Debit Card and Paysafe, payment with the crypto credit card is to be made possible. It would, therefore, be a payment card linked to the current balance of the account in the corresponding cryptocurrency. And this is where the big difference to the classic credit card lies. This is because it is linked to a bank account. But the common feature of the money value cards is that they can be used both online and offline for transactions. Of course, different cryptocurrencies may have different exchange rates. Interested parties may also have entered several virtual currencies at the same time.

But this is not an obstacle. Because an app, which is offered free of charge for Android and iOS, makes it possible to set the desired currency for payment. It is important that Coinbase supports the respective cryptocurrency. This applies to a wide range of payment options such as Bitcoin, Ripple, Ethereum, Litecoin and Co. Of course, it should also be possible to make a direct debit. When paying or paying out, the individual exchange rate at Coinbase is decisive. In return, the company charges a fee of 2.49 per cent. At least that’s how it looks in Great Britain. Details of the publication in Germany are not yet known.

Issue of credit card: It is assumed that the issuance process is similar to that of a conventional credit card. This concerns possible daily limits of 10,000 euros or the costs of 5 euros for the first issue.

Will it be possible in future to pay anywhere with the Coinbase Card?

Coinbase’s plan is precisely this concept. Credit cards are already recognised worldwide. This applies to petrol stations, restaurants and supermarkets. In everyday life, many things can be settled with credit cards. And the Internet is no exception. Whether Amazon or other large retailers, at least Visa and Mastercard are on board. This also applies to bookmakers and online casinos. Whereby some Casino offerers already permitted paying with the Bitcoin anyway.

But thanks to Coinbase, paying with the cryptocurrency could be considerably simplified. The fact that the integration into everyday life via the link between the digital account and a credit card is successful seems to be almost certain. However, it remains to be seen whether consumers will accept this method of payment for the time being. The Block-Builders have summarized further details.

More News

Partypoker KO Series goes into the next round with $10 million guarantee

Partypoker KO Series goes into the next round with $10 million guarantee

From 2nd to 16th February the KO Series returns to partypoker. The prize money guarantee for the 230 tournaments will…

Mystic Hive by BetSoft

Mystic Hive by BetSoft

BetSoft provides the Mystic Hive Slot. BetSoft is one of the briefest opening developing organizations available. In this circumstance and…

National star waves record contract

National star waves record contract

Stephen Strasburg agrees with the Washington Nationals on a new record treaty. This is to bring the pitcher 245 million…

Already over €160,000 in the prize pool at the SSOP Main Event!

Already over €160,000 in the prize pool at the SSOP Main Event!

The guarantee at the SSOP Main Event at Banco Casino is already blown. Vlado Valent goes as Chipleader in day…

Spain for the second time basketball world champion

Spain for the second time basketball world champion

Spain is world champion in basketball for the second time. The team around NBA champion Marc Gasol of the Toronto…

Poker After Dark: Phil Hellmuth at the 888poker Week

Poker After Dark: Phil Hellmuth at the 888poker Week

Poker After Dark is set for 888poker Week II. Poker Central has just announced Phil Hellmuth and Norm Macdonald as…

Los Angeles Lakers beat the Miami Heat and came within one step of the title

Los Angeles Lakers beat the Miami Heat and came within one step of the title

The Los Angeles Lakers won the fourth game of the NBA Finals against the Miami Heat by 102 to 96.…

NBA 2K20: $250,000 tournament announced

NBA 2K20: $250,000 tournament announced

2K yesterday officially announced the details for the NBA 2k20s "MyTEAM Unlimited $250,000 Tournament". To qualify for the so-called Qualifier…

Germany will send an eSports duo to the FIFA 19 World Cup (FIFA eNations Cup).

Germany will send an eSports duo to the FIFA 19 World Cup (FIFA eNations Cup).

The interview break-up of DFB boss Reinhard Grindel, the fuss about sorted out world champions, the dispute about the so-called…

PokerStars tests Poker Side Bets

PokerStars tests Poker Side Bets

PokerStars will soon allow players to place bets on future cards. At least, if the testing phase is successful. Betting…

E-Sport News: Virtus.pro takes over AVANGAR

E-Sport News: Virtus.pro takes over AVANGAR

The Russian eSports organization Virtus.pro sacks its Polish CS:GO team and hires CIS team from AVANGAR. For the payment of…

Mother plays in the casino - and forgets her child

Mother plays in the casino - and forgets her child

This case shows that gambling can be a real problem - but the Internet offers many advantages with its online…

Nadal enjoys US Open triumph after tennis thriller
Nadal enjoys US Open triumph after tennis thriller

Rafael Nadal buried his face in his hands and cried. When the pictures of his 19 Grand Slam victories were…

Australia Poker Open - Farid Jattin with monster chiplead at Event #4
Australia Poker Open - Farid Jattin with monster chiplead at Event #4

After already the A$10,000 PLO Event #2 of the Australia Poker Open in The Star Gold Coast Casino was well…

Origens Nukeduck dissatisfied after defeating in LEC finals
Origens Nukeduck dissatisfied after defeating in LEC finals

A final defeat in record time is something you first have to cope with. With 0:3 Origen lost in the…

Leon Tsoukernik wins €1,372,500 in the slots
Leon Tsoukernik wins €1,372,500 in the slots

While in Great Britain deposits with a credit card were blocked, and Ireland and Spain could follow, the WSOP announced…

Fortnite High School and College League confirmed
Fortnite High School and College League confirmed

The startup PlayVS is setting up a high school and college learning system in collaboration with the publisher of Fortnite…

OWL: All about the Stage 2 Finals
OWL: All about the Stage 2 Finals

The play-offs of Stage 2 of the second Overwatch League Season will take place this weekend. SPORT1 collects all information…

Rugby World Cup - Wales eliminated in the quarter-final, Fiji
Rugby World Cup - Wales eliminated in the quarter-final, Fiji

Wales and Australia have reached the quarter-finals of the Rugby World Cup in Japan. Scotland also remains in the race…

Swiss eSports Weekly: The highest prize money in eSports history!
Swiss eSports Weekly: The highest prize money in eSports history!

Although eSports is still relatively young, prize money is distributed that is otherwise difficult to find. This weekend there was…

Sock wins in Paris and leaves Carreno without London Masters.
Sock wins in Paris and leaves Carreno without London Masters.

The American will have the last place for the last big event of the year, which starts next Sunday. When…

Hard Rock Casino in Atlantic City introduces slot machines for the home
Hard Rock Casino in Atlantic City introduces slot machines for the home

The Hard Rock Casino in Atlantic City (New Jersey) presented land-based slot machines for the first time on Monday, which…

Mybetting Deals Tools

Surebet by BetBurger

Surebet by BetBurger

BetBurger is a service focusing on arbitrage bets, also known as sure bets. It turns sports betting into an investment.

Matched Betting by OddsMonkey

OddsMonkey

OddsMonkey offers matched betting services with features to enhance your profits with the best betting offers.

Live Sport Results and Statistics

Live Scores

Always keep ahead of the sports betting game with our real time results and statistics!

2000+ Free Slots

Play the best online slots and your favourites from the biggest developers for free right here!