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

Farewell to roulette! - Dusk Till Dawn removes the casino tables

Farewell to roulette! - Dusk Till Dawn removes the casino tables

At the end of the month, the famous Dusk Till Dawn casino in Nottingham will host partypoker MILLIONS UK with…

Season off for NFL-Star Watt:

Season off for NFL-Star Watt: "So brutal"

For the third time in four years, NFL star J.J. Watt's season in the US professional football league is over…

FIFA 20: Values of Zidane & Co. revealed

FIFA 20: Values of Zidane & Co. revealed

With FIFA 20, Zinédine Zidane and other legends will be playable as an ICON card for the first time. But…

Fifa elite plays for World Cup title in London

Fifa elite plays for World Cup title in London

The final of the "Fifa eWorld Cup" - the world championship in football simulation "Fifa 19" - will take place…

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…

Online casino or Real casino: where do stars feel particularly at home?

Online casino or Real casino: where do stars feel particularly at home?

In the past, there was only a casino for everyone who wanted to play slots for winnings. Today, in times…

Raiders surprise Patrick Mahomes and Chiefs to give them their first loss of the season

Raiders surprise Patrick Mahomes and Chiefs to give them their first loss of the season

The undefeated is over. The Chiefs were surprisingly stopped by the Raiders and by beating them 40-32. They were also…

LoL team can't pay player and gets banned, finds Riot

LoL team can't pay player and gets banned, finds Riot "hypocritical"

A team from Thailand have been banned from League of Legends for allegedly not paying their players for over a…

Casino Fraud: Prosecutor Prosecutes

Casino Fraud: Prosecutor Prosecutes

15 months after the casino fraud became known, the public prosecutor's office in Hof has now brought charges against the…

PokerStars HIGH ROLLERS: Jens Lakemeier wins the 8-Game

PokerStars HIGH ROLLERS: Jens Lakemeier wins the 8-Game

Day 5 of the HIGH ROLLERS tournament series on PokerStars once again saw high-class poker at the highest (buy-in) level,…

GP of Belgium - Combination tierce in order

GP of Belgium - Combination tierce in order

Another victory for Lewis Hamilton, another double for the Mercedes and of course podium for Max Verstappen: the battle of…

Pedro Rodriguez scores again in Romes victory against Fiorentina.

Pedro Rodriguez scores again in Romes victory against Fiorentina.

Pedro Rodriguez has 'fallen on his feet' in Rome. The Canarian has scored three goals -all in Serie A- and…

5th matchday of the LEC powered by Shell
5th matchday of the LEC powered by Shell

Together with LEC sponsor Shell, the Recap of the 5th matchday: Upsets, Roster-Changes and a disappeared Rekkles! On the 5th…

Blizzard working on Overwatch 2 - Stop Starcraft Shooter
Blizzard working on Overwatch 2 - Stop Starcraft Shooter

There's news from Blizzard. A well-informed journalist has found out that they are working on Overwatch 2. For gamers, this…

Children plunder father's account for FIFA Lootboxes - and he finds out
Children plunder father's account for FIFA Lootboxes - and he finds out

The children of the British Thomas Carter wanted to have their favourite player Lionel Messi for EA's football simulation FIFA…

WSOP 2019: Gavin Smith Memorial Poker Tournament
WSOP 2019: Gavin Smith Memorial Poker Tournament

The World Series of Poker 2019 kicks off on May 29th with the Gavin Smith Memorial Tournament kicking off right…

Rainbow Six: Victories leak the new operators before Six Invitational
Rainbow Six: Victories leak the new operators before Six Invitational

At the Six Invitational for Tom Clancy's Rainbow Six: Victories, the next two operators will be shown. But their appearance…

LeBron in the crossfire: China-Zoff splits the NBA
LeBron in the crossfire: China-Zoff splits the NBA

LeBron James doesn't want to talk anymore, at least not about China. Not about his remarks about the Twitter crisis,…

Team Liquid wins the LCS Summer Playoffs
Team Liquid wins the LCS Summer Playoffs

The LCS Game of the Year It was probably one of the most exciting final matches in years. Team Liquid…

Dota 2: Kuroky's difficult way to the Leipzig Major
Dota 2: Kuroky's difficult way to the Leipzig Major

For the German record athlete, the start into the new Dota 2 season is a real bumper ride. There is…

Application phase for the Gamescom award 2019 started
Application phase for the Gamescom award 2019 started

The application phase for the Gamescom award 2019 has started. Registered Gamescom exhibitors can apply for the award until 31st…

E-Sport News: Cloud9 - Return to Dota 2
E-Sport News: Cloud9 - Return to Dota 2

With old and new faces, Cloud9 returns to Dota 2. After more than two years, the organization wants to attack…

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!