If you are a crypto fan living in Europe or Australia, it is now possible for you to get the cryptocurrency gift cards being offered by Coinbase. The US-based cryptocurrency exchange is now offering electronic-backed gift cards to offer more “flexibility and control over how you want to use your crypto”.
Coinbase is located in San Francisco and is one of the most trusted crypto exchanges in the world, which makes the news about their cryptocurrency gift cards intriguing. Although the cards are only available in certain Aussie and European markets, it is being lauded as a smart move for the exchange.
Cryptocurrency gift cards promotion
The move to offer cryptocurrency gift cards in selected markets across Australia and Europe is making some noise across crypto news sites today. The American exchange already supports bitcoin, ether, bitcoin cash and litecoin has now announced a move towards offering direct withdrawals and e-gift cards. From today, you can use the cards in selected Coinbase markets.
The idea was born out of partnering with WeGift, who is a London-based startup that allows users to purchase goods with their crypto at many high-end retailers such as Tesco, Nike, Uber, Ticketmaster, Google Play, Zalando and other stores. The service is now available across many European nations such as Italy, France, Spain, the Netherlands, and the United Kingdom. The cryptocurrency gift cards for retail purchases are also available across Australia.
Coinbase has pledged to continue expanding the number of options and markets over a period of three years. Other countries are also being earmarked by the exchange as possible targets in the future.
Simplifying crypto usage via retail gift cards
One of the main issues with everyday usage of crypto is the limited availability of retail options where crypto can be spent. This is where the Coinbase cryptocurrency gift cards come into their own.
Coinbase CEO, Zeeshan Feroz was recently quoted as saying, “Customers purchasing an e-gift card will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts. From converting bitcoin into Uber credits or ether into a Nike shopping spree, customers will have greater flexibility and control over how they use their crypto. Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience. With the launch of e-gift cards, customers now have the option to spend their crypto balances, realizing its value to buy tangible things or experiences.”
With this latest e-gift card concept from Coinbase, it makes you wonder whether cards such as this are a real alternative to online merchants and other gateway sites that offer direct bitcoin payment options.
One thing is for sure, Coinbase is a massive company that is valued at USD 8 billion, and has some very positive ideas that could help move the industry forward. These new cryptocurrency gift cards are a great way to make the retail sector more accessible to everyday crypto users. Maybe this is the way forward for those wishing to buy items online with cryptocurrency in the future.
I am very experienced writer/blogger who has been an active member of the cryptocurrency community for several years. I have experience writing for crypto news sites and proactively been involved in the startup of other ICO and crypto ventures over the course of the past four years.