Crypto craze: If you’re one of the many folks who have hopped on board the cryptocurrency bandwagon, crypto exchange Coinbase might have some good news for you today. Starting now, you can sign up to join the waitlist for the Coinbase Card, a piece of plastic that will enable you to spend your crypto at any location that Visa is accepted.
The Card is expected to launch for early adopters sometime over the holiday season. Like many other debit cards these days, you’ll initially only be able to make purchases using a virtual card, but the real deal will be mailed to you in due time.
The Card works by converting a cryptocurrency of your choice from your Coinbase wallet into FIAT currency on the fly; either Euros or USD, depending on where you live.
For now, the Coinbase Card supports Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Augur, Basic Attention Token, 0x, and Stellar Lumens, and it has a spending limit of $10,000 per day.
There are no sign-up or annual fees here, but according to the Coinbase Card FAQ, the exchange will still take a cut. For every purchase you make with the Card, the company will take 2.5 percent for itself as a “crypto liquidation fee.”
The good news is, you’ll be earning cashback for every purchase: up to four percent in Stellar Lumens, or one percent in Bitcoin. If the Coinbase Card sounds like your cup of tea, feel free to sign up on official website.