What is the Coinbase Card?

Ivan Dubravac — Wed, 20 Nov 2019 13:30:24 +0000

The Coinbase Card is a physical card you can order from Coinbase UK. With it you can use ATMs and make payments anywhere Visa cards are accepted.

Which currencies does the Coinbase Card support?

You can spend the cryptocurrencies loaded on your Coinbase account’s wallet.

Fiat currencies and cryptocurrencies Coinbase supports

Supported fiat currencies: USD, EUR, GBP
Supported cryptocurrencies: Approximately 17 cryptocurrencies

How can I fund my Coinbase Card?

You can deposit funds onto your Coinbase account. Coinbase accepts the following payment methods:

Credit card
Debit card
PayPal

Coinbase Card fees and limits

The first fee is the plastic card issuance fee of £4.95. You’ll need to have enough funds in your Coinbase account to cover that cost before you can order the card.

After that, you’ll encounter the following fees when using your card for purchases or for withdrawing cash at an ATM.

Coinbase Card fees for purchases

Your fee for purchases with crypto will be made up of the cryptocurrency conversion fee, plus the relevant transaction fee for the location.

So if you make a purchase with your card outside of Europe or the UK, you’ll be charged a 5.49% fee. If you make a purchase inside the UK you’ll be charged only the 2.49% conversion fee.

Fee type	When it applies	Fee
Cryptocurrency conversion fee	When you spend the cryptocurrency in your account and have it converted to fiat	2.49%
Domestic purchase transaction fee	When you make a purchase with the card inside the UK	None
Intra-EEA purchase transaction fee	When you make a purchase with the card in a European Economic Area (EEA) country	0.20%
International purchase transaction fee	When you make a purchase with the card outside the UK or the EEA	3%
Chargeback fee	When a chargeback is processed for your card	£20

Coinbase Card ATM fees

The ATM fees listed here apply to both ATM withdrawals and over-the-counter cash withdrawals from bank branches. Your conversion fees will apply on top of the relevant ATM fees.

Fee type	How much it is
Cryptocurrency conversion fee		2.49%
Domestic ATM fees		None up to £200 per month, 1% for amounts beyond that
International ATM fees		None up to £200 (or equivalent) per month, 2% for amounts beyond that

Coinbase Card limits

The table below shows the default limits. Note that you can change the daily spending limit by contacting Coinbase Card support.

Limit type	Limit
Daily spending limit	£10,000
Monthly purchase limit	£20,000
Yearly purchase limit	£50,000

Conclusion

Pros

Link the card to your Coinbase account and activate it, then you’re good to go.
Widely accepted. The card is accepted anywhere a standard Visa debit card is.
Almost just like a standard debit card. It’s just like a standard debit card, except for crypto. You can even tap and go with it.

Cons

High fees.

If you’d liked this article but you wish to learn more, try reading this article on How to create a coinbase wallet.

Or, if you’d like some free money – check out this – How to Claim free 50 Stellar Lumens.

The post What is the Coinbase Card? appeared first on Bizznerd.

cryptocurrency wallet Archives - Bizznerd