Coinbase Card is a Visa contactless debit card. The card is synchronized directly with the user’s Coinbase account. According to CNBC, it is accepted at all retailers in the world. CEO Coinbase UK, Zeeshan Feroz, said the card gives users the ability to spend and invest in cryptocurrency from a common platform.

"There is a real advantage in actually coding money, interacting with pre-coding because pre-coding ecosystems are more than just investments," Feroz said. However, retailers themselves will not receive payment by encryption. Coinbase charges a small fee of 2.5% for users to switch from real currencies, such as pounds, to cryptocurrency, such as ethereum.

Users can decide which encryption type they want to use to pay through the Coinbase Card application. The encrypted amount is charged directly to the user’s Coinbase account. Mr. Feroz said the exchange tried to keep the fee as competitive as possible.

Coinbase has a pre-coding license in the UK to perform payment operations. Feroz adds that businesses are also asking for more pre-coding licenses in Europe, expecting to expand to many other European countries from mid-April. Brexit, or British leaving the European Union (EU).

Many financial technology firms (fintech) are trying to find a solution to make payment, more pre-coding transactions more accessible. Revolt in the UK and Square in the US offer pre-coding services on the platform. Facebook also developed its own crypto currency for WhatsApp users to pay worldwide.

One of Coinbase’s biggest competitors is Binance. The company also promotes credit card and debit card payments through partnerships with fintech Simplex earlier this year. Coinbase said the company will give away the first 1,000 cards to customers in the UK, who register in the card waiting list. After that, each card will cost £ 5, equivalent to $ 6.6.

Coinbase does not charge monthly card fees or Coinbase account opening fees. Customers can withdraw up to £ 200 per month from ATM with this card.