In a recent interview, the Coinbase Chief Executive Officer, Bran Armstrong revealed the plans to introduce “Coinbase debit card” in the United States.
This decision for introducing debit card in the US was fuelled by the success of Coinbase debit card launch in the UK previous month.
The card supports all available crypto assets to be purchased and sold on the Coinbase platform and, according to the announcement, customers can use it to pay for daily purchases, like a meal or a book ticket.
Coinbase Card is supported by cryptocurrency customer accounts, enabling them to pay online and on-store using Bitcoin, and other major coins. At millions of places worldwide, customers can use their card, make payments by contactless, chip, and PIN and withdraw cash from ATMs. When customers are using their Coinbase card, we convert cryptography into fiat currency, like GBP, to finish purchasing.
This card is the first in the UK and Europe to enable users to spend fiat money on their accounts and to have the corresponding quantified cryptocurrency. An accompanying mobile app enables customers to choose the encryption device they want to pay for.
During the course of the interview, Bran Armstrong also talked about margin trading. He said that Coinbase is considering the possibilities of supporting Margin trading, nothing is solid yet.
Margin trading enables a trader to open a leverage position. If, for instance, we opened a 2X leverage margin and increased our base assets by 10 %. Due to the 2X leverage, our position would have been 20 %. Standard trade with a 1:1 leverage is being traded.
Though the idea of margin trade on Coinbase is not active yet, the possibility of it could be happy news for lots of traders and investors.