A select group of US citizens and customers of Coinbase cryptocurrency exchange who had preregistered for the company’s cards dubbed Coinbase Cards will begin receiving invites to apply for the product.
The Coinbase Card is a debit card that does not impact customers’ credit scores. The card can link to Apple Pay and Google Pay for easy payment at the point of item purchases. For users keen on privacy, the duo of Apple Pay and Google Pay uses tokenisation to keep users’ data safe. As such, the hallmark of crypto, which is data security, will not be compromised.
According to Coinbase, those approved for the cards can start using the digital version right now, not need to wait for the physical card. While this product is the latest from the firm, there are plans under incubation to roll out additional products that will make crypto easily spendable in everyday life.
As Coinbase revealed, new cards will see users spend their cryptocurrencies anywhere while earning rewards or cashback of up to 4% on all shopping.
Cryptocurrencies are here to stay, with thousands of such virtual assets now in the markets besides Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and other such prominent coins. Subject to their volatile nature, they are hardly considered for e-commerce as their values are often fluctuating. However, the new crop of products being rolled out by platforms such as Coinbase is easing the transition and the use of crypto in everyday life. This product complements the broad range of support for all array of digital currencies by the firm.
Established institutions best champion the journey of digital currencies onto the mainstream adoption cycle. As a Nasdaq-listed public firm, Coinbase’s role in advocating the broader acceptability of cryptocurrencies is vital. The firm is notably playing this role well, but the moves will resound more should the firm’s products being rolled out on a global scale.
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