COINBASE, US largest virtual currency exchange, issues debit cards with VISA

Coinbase, the largest virtual currency exchange in the US said that they will issue a debit card "Coinbase Visa Card" that uses for virtual currency by cooperation with Visa, a major payment company.

The intended users (at this point) of debit cards are limited to the UK only, but regardless of nationality, the owners of Coinbase Visa card, are able to use virtual currency at stores or online shops related to Coinbase in the UK.

This debit card also includes all Altcoins handled by Coinbase, including Bitcoin (BTC), Ederium (ETH), ripple (XRP), and Lightcoin (LTC).

The debit card is equipped with microchips and passwords, just as ordinary debit cards, so People can use selected virtual currencies at ATMs to withdraw as a GBP and payment can be made at the store too.

Users can also use "Coinbase Visa Card" to select the Wallet of the virtual currency by using connected card and can check details of usage. Coinbase expressed high expectations for the virtual currency's real-life use and said, "Users can easily use this card in their daily lives, such as paying for meals using bitcoin or buying tickets for trains."

Coinbase is going to expand their service for European countries as its center in the future.

Although virtual currency has been called as virtual currency, it is hard to say that it has succeeded in spreading its use at stores and restaurants due to the high price fluctuation. In addition, many problems such as transaction processing in many virtual currencies, such as bitcoin and etherium, should be addressed in comparison with convenient cards such as Visa and Master Card.

However, the world's leading payment company, Visa, has partnered with the Virtual Currency Exchange for the first time, they made the solution that to process virtual currency transaction in monthly payments; therefore, virtual currency payments can be used at the same pace as cash payments. To sum up, stores and business partners will not receive virtual currency directly which is highly volatile. Thus, the settlement of virtual currency come to the realization.

Coinbase argued that by linking the visa card to the user's account, our card features' are convenience and scalability.

Reporter Jenny Lee (news@dailycoinews.com)의 기사 더 보기

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