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The Chief Executive Officer of Coinbase revealed that the company would soon offer a new debit card to their US clients. This decision is as a result of their great success in the UK.
Last month, we reported the Coinbase debit card, which took crypto trading to another level in the United Kingdom. Let’s recall that the company mentioned that it would also provide the same capabilities to clients in the US. Right now, we think that they are planning to fulfill their promise of offering a Coinbase debit card in the United States. This is not speculation at all since we got this report from the horse’s mouth.
During an interview, the main man behind the Coinbase wheels Brian Armstrong mentioned that the plans are underway. According to him, the company will release the card in the U.S. This decision was due to the rapid and wide acceptance of the Coinbase card in the UK last month.
How The Coinbase Card Will Help The Client
This new card supports every crypto asset you can buy and sell on the platform. From what we gathered, every Coinbase customer who holds the card can also pay for their daily transactions. They can buy a meal, book a ticket or even shop with it. Crypto customer accounts also support the Coinbase card. It will, as a result, help them to make in-store and online transitions using Bitcoin and some major digital coins.
There are, however, millions of platforms where the customers can use the cards worldwide. They can pay through contactless, PIN, and chip. Coinbase customers can also withdraw their cash from any ATM worldwide. According to the company, whenever the card owners are using it, they convert their cryptography into the normal tender. So, they can have access to the equivalent of their cryptocurrency in Fiat money for purchasing items.
Specs of the Coinbase Card
To say that introducing the card is a good move by Coinbase is an understatement. This debit card enables users to access and transact with their normal legal tender. Also, it enables them to have the same corresponding cryptocurrency to use when they need it. There is also a mobile app from Coinbase, which offers the opportunity to select which encryption device the user prefers to buy. From what we gathered, this is the first card to offer such capabilities in Europe and the UK.
Another important topic which Brian Armstrong mentioned was Margin trading. According to the CEO, Coinbase is also thinking about extending its support towards Margin trading. However, he emphasized that there is no concrete evidence yet.
A little about margin trading is that if the company supports it, traders can now open a leveraged margin. One thing we can be sure of is that if Coinbase takes it seriously, many investors and traders will jump at the news. We don’t know how many digital crypto exchanges presently supporting margin trading. But we know that it benefits traders since they can open the leverage position they want.