If you are trying to use a coinbase card as your mode of payment, learn completely about it. This article provides a full coinbase card review for you to understand.

One of the best cryptocurrency marketplaces in the world, Coinbase, offers a card called Coinbase Card. To be more precise, Paysafe Financial Services Limited (a business that the UK Financial Conduct Authority has granted permission under the Electronic Money Regulations 2011 FRN: 900015 for issuing electronic money and payment instruments) issues the card for use in Europe. This coinbase card review discusses the benefits, disadvantages and all other features of the coinbase card.

This is, of course, a VISA card. You can use the card where ever you want that takes VISA as payment. Considering that VISA (and Mastercard) are the cards that are most extensively used worldwide, this is undoubtedly a huge advantage. According to our most recent information, more than 42 million shops globally accept VISA cards.

Benefits of using Coinbase Card:

Use your cryptocurrency for real-world purposes. For example, you can use the cryptocurrency stored in your Coinbase wallets to pay for almost anything online or in person. This is one of the best features in coinbase card review.

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No upkeep or transaction costs in using the coinbase card. With the Coinbase card, you won't have to pay monthly or yearly fees. There are also other fee-free debit cards related to cryptocurrencies. This information supports the coinbase card review.

You can spend anywhere Visa is recognized. You can use your Coinbase card to make contactless payments, PIN payments, and ATM withdrawals anywhere Visa is accepted.

ATM withdrawals are free. Without worrying about fees, withdraw up to €200 each month. 

The Coinbase card app will charge you 1% of the withdrawal amount. So spend your cryptocurrency balance as soon as you activate your card via the card app.

You can also choose the cryptocurrencies you use and track your spending on google pay. 

Coinbase cards support Google Pay, making it easy to use cryptocurrencies on the go.

Disadvantages of using Coinbase Card:

There are just a few cryptocurrencies supported. Only eight cryptocurrencies, including BTC, ETH, LTC, and XLM, can be used to transact with the Coinbase card.

One-time card charge You must pay a one-time cost of €4.95 to sign up for the Coinbase card, and it will take 5-7 working days to arrive.

You cannot use apple pay for the Coinbase card. But, Google Pay is still supported right now, though.

Is Coinbase Card Safe?

Yes. By following local laws in every country, including those of the UK's Financial Conduct Authority and the US's FinCen, Coinbase takes precautions to protect your data and cryptocurrency. Additionally, it complies with KYC and anti-money laundering requirements.

For in-person transactions, the Coinbase card requires a PIN, and for online purchases, two-step verification. In addition, you can freeze your card using the app if you need to temporarily prevent use.

Cryptocurrency supported by Coinbase Card:

The card supports the same quantity of cryptocurrencies as Coinbase. When this review was last updated on January 23, 2021, there were 44 distinct cryptocurrencies on the list of supported coins (all listed above).

Coinbase Card Fees:

The Coinbase Card is rather pricey compared to the other available crypto cards. Although there are no monthly costs and the issuance fee is only 4.95 euros, all other prices are slightly higher than the industry standard.

The Coinbase Card has a two-part spending fee. The simple card commission comes first. The commission for “domestic purchases” is 0.20 per cent. This is perfectly OK. However, the transaction cost for overseas purchases is 3 per cent. The card user feels some more agony because of this.

Suppose you want to convert your crypto to any payment method accepted by the merchant; you need to pay some fees. When you do that conversion, your “liquidation fee” from Coinbase Card is 2.49 per cent.

The lowest transaction you can do, a domestic buy, will cost you 2.69 per cent of the purchase price (0.20 per cent plus 2.49 per cent). 3.0% plus 2.49 percent equal 5.49 percent for international transactions.

Conclusion: 

Coinbase is one of the best solutions if your sole objective is to be able to spend your cryptocurrency using a debit card. The card presently supports  from nine of the most widely used cryptocurrencies on the market, and there is no proprietary token to worry about. Additionally, the card offers a straightforward crypto back rewards scheme that allows you to earn between 1 and 4 per cent in several different cryptocurrencies, such as Stellar Lumens, Bitcoin, or Ethereum.

Coinbase has become the most respected name in the bitcoin industry is Coinbase. But unfortunately, customers in the United States are currently out of luck because the Coinbase Visa card is available only in several European nations.

matthiaskuer Member since March 31, 2022