Google pay and apple Pay are now accepting Coinbase debit card.
Google pay and apple pay allied with Coinbase and now offer support for cryptos. This means that now you can buy on stores that doesn’t support cryptocurrency by just simply using google pay or apple pay.
With all the new bitcoin investors that came into play this year, and more to come, people are wondering on ways to use their newly acquired wealth.
VER CONTENIDO 📥
What is Google pay and Apple pay?
These are mobile payment services that keep track of your debit cards, credit cards and now online crypto assets. They enable phones to communicate wirelessly to payment terminals via NFC (near field communication).
Also, they function as a wallet, this way you can pay a service to individuals, split expenses with your friends or lend your brother some money. Moreover, they keep track of your expenses and lets you see a global fund between al your bank cards.
About Coinbase debit Card.
This is a type of Visa debit card that is funded by your Coinbase account crypto balances and when it arrives you will be able to use it in your phone virtually and physically with the card. This enables cash withdrawals from ATMs, chip and PIN code and contactless payment.
To get one we have to register on the waitlist and be patient. Also, we have to make sure that this card is available for us in our country.
Why is this better than exchanging the regular way?
One of the problems that cryptos have is that accessibility is not their strong point. And many people that need to use their money on a daily basis only see them as a long them reserve.
Now that you are able to use some sort of automatic exchange, you don’t have to go to your exchange broker and make a slow transaction. Doing this is very annoying to do when you need to take from your online funds just to buy groceries at the supermarket.
I have a Coinbase Card but I can’t use it with Google pay or Apple pay.
This is because this system launched only in USA for the moment, but global adoption its imminent, if everything goes as planned.
To promote the usage of this system, (apart from being and faster and easier transaction than trading your cryptos) Coinbase announced that if we use the Coinbase card in Apple pay or Google pay, we could get 1% cashback on Bitcoin or 4% cashback on Stellar Lumens.
Be aware that the business will not receive cryptocurrency, rather the cryptocurrency we are spending will be automatically sold and converted into US Dollars. This will be also the system for all other countries where the card is already accepted.
Also, Coinbase announced that if we use ATMs, it will be a fee of about 2,49% of the transaction and 1% of the cash when we retire more than 200$ or euros at the end of the month.