Following its kick off in the UK in April, Coinbase is tipping out its cryptocurrency debit card to more European nation, irrespective of users reporting several issues.
The cryptocurrency exchange will be unveiling its Coinbase Card in six more European nations. As of today, the crypto-funded debit card will be available to people in Spain, Germany, France, Italy, Ireland, and the Netherlands.
The debit card permits users to spend the cryptocurrency they hold on Coinbase from any location, 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 informed that Coinbase hopes to extend the card into new territories. “We will be searching for 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. Several users claim to have noticed random errors, an inability to fund the card, and problems when trying to verify their Coinbase Card.
Being able to enter a store and pay with a cryptocurrency-funded debit card sure sounds like the silver bullet buying coffee with cryptocurrency needs.
However, provided that Coinbase users are subject to several anti-money laundering and know-your-customer you won’t be buying anything anonymously with the card.