Following its launch in the UK in April, Coinbase is rolling out its cryptocurrency debit card to more European countries, despite users reporting numerous problems.
The cryptocurrency exchange will be launching its Coinbase Card in six more European nations. As of today, the crypto-funded debit card will be available to users in Spain, Germany, France, Italy, Ireland, and the Netherlands.
The debit card lets users spend the cryptocurrency they hold on Coinbase anywhere in the world, providing the store accepts Visa cards as payment.
Coinbase‘s UK CEO Zeeshan Feroz told CNBC the goal of the card is to make payments with digital currencies as seamless as paying with cash.
Coinbase hasn’t stated how many debit cards are now in circulation, but Feroz did say the company “blew past” the initial 1,000 cards that were offered to users for free, and has seen “extremely strong uptake.”
Feroz also told CNBC that Coinbase hopes to expand the card into new territories. “We will be looking at all of our key markets including the US,” he said.
Indeed, while Coinbase might be claiming success, the card’s accompanying app on Google Play gets just two stars out of five, from 74 reviews. Many users claim to have experienced random errors, an inability to fund the card, and problems when trying to verify their Coinbase Card.
Being able to walk into a store and pay with a cryptocurrency-funded debit card sure sounds like the silver bullet buying coffee with cryptocurrency needs.
However, given that Coinbase users are subject to various anti-money laundering and know-your-customer you won’t be buying anything anonymously with the card.
Published June 12, 2019 — 09:38 UTC