It’s now doable to pay with cryptocurrencies anyplace together with your cell phone – Explica .co – Explica
It’s been a couple of years since Coinbase, one of the largest cryptocurrency exchanges, launched its own debit card. Thanks to her, users of the service can pay in facilities as usual. Now the company is going one step further and has just announced that Coinbase Card is now compatible with Google Pay and Apple Pay.
What does that mean? In short, it means that we can add this card to our virtual wallet Pay contactless, either with the mobile phone or with the watch, as long as they have NFC. This new feature is gradually being rolled out in the United States and is expected to arrive sooner or later in all countries where the Coinbase Card is available (including Spain).
Pay with crypto by bringing your phone closer
As explained by Coinbase, once approved, we can add the card to Google Pay and Apple Pay, ergo You don’t have to wait for us to get home. To apply, all you have to do is put yourself on a waiting list and be patient. Once this is done, we can use it to pay in any store.
To promote its use, Coinbase has announced a cashback promotion of up to 4%. This way, if we pay with Google Pay or Apple Pay with the Coinbase Card, we can get a return of 1% in Bitcoin or 4% in Stellar Lumens. It has not been stated whether this promotion is temporary or in any way limited to use in the United States.
As for payment, the truth is that a cryptocurrency transfer is not made as such. In the footer of the declaration it is stated that we are making a purchase or withdrawing money from an ATM Coinbase automatically converts all cryptocurrencies into US dollars and transfers the card amount. In other words, the user issues cryptocurrencies and the merchant receives payment in legal tender.
On the other hand, they warn from Coinbase against it there may be a different commission depending on the type of transaction. For example, there is a commission for processing cryptocurrencies of 2.49% of the transaction and 1% of the value of the ATM withdrawal if more than 200 dollars / euros are withdrawn per month. All of them are described in this link.
More information | Coin base