Coinbase Card, Google Pay are uniting as one to increase the liquidity of cryptocurrencies and offer a new set of convenient payment options to customers. Coinbase users will have the chance to use their cards in many more jurisdictions.
Per the official Coinbase blog, users of Android devices can connect their Coinbase Card to Google service now. The Visa-based debit card receives payments from cryptocurrency origin and spends fiat. Google allows Coinbase to become the first exchange in the crypto industry with the power to top up Google Pay account.
Google’s system will enable cryptocurrency holders to posses Bitcoin and spend fiat via the smartwatch, tablet and by other Google tools. Google and Coinbase will make sure that the crypto holdings are spent in the most secure way possible.
Coinbase Payments Become Available in Many Regions
Poland, Denmark, Croatia, Spain, Belgium, the United Kingdom and many other countries are ready to accept the payments. You can download the Android Coinbase app. Then, sign in your account and order a card. As soon as it is ready, use Google Pay to attach the Coinabse card to Google account. Interestingly, Coinbase will give you the card credentials even before the physical plastic arrives via mail. So, you will be able to spend some money right after the card was created. iPhone users can use the card too if they wish.
The card by Coinbase is produced at Paysafe Financial Services Limited. They have a Financial Conduct Authority registration, following the electronic money regulation standards.
Coinbase Will Filter Coins for Google Pay and Customers
Considering that there are many of the ‘tainted’ coins on the market, using such a payment solution can guard both Google and the end-users from possible money laundering accusations. Some traders use sophisticated cheats.
If they can’t pay for Crystal Blockchain orChainalysis monthly subscription, they use exchanges to ‘check’ their coins. One popular Telegram channel advice to send Bitcoins to Binance or Coinbase, wait for 2 weeks, and withdraw. If the exchange didn’t freeze the payment, then the coins initially sent to the service were ‘clean’. Solutions like Coinbase Card allow traders to stop bothering about the coin history, leaving the risk management for Coinbase staff.