Coinbase Announces E-Gift Cards: Pay for Uber With Bitcoin

Coinbase Aims to Obtain Banking Licenses

Coinbase continues to expand its portfolio of cryptocurrency items, adding new means that users can take advantage of to spend their cryptocurrency on day to day items and services.

E-Gift Cards Are Already Available

E-Gift Cards Are Already Available

Coinbase announced today that customers in Australia and EU are now able to spend their cryptocurrency balances on e-gift cards instantly. As such, the platform becomes the first to provide options for direct withdrawals into e-gift cards.

The initiative was carried out in partnership with WeGift, a company focused on providing digital gift cards, and is currently available in several select EU countries – the UK, Spain, Italy, France, and the Netherlands – and Australia. Coinbase said that it will be expanding the number of involved markets and retailers within the next three months, moving to other countries shortly thereafter.

Pay for Your Uber with Bitcoin

With this new product on the market, Coinbase users will be able to withdraw their cryptocurrency holdings into e-gift cards. These can then be used to pay for a range of different services and with some popular retailers such as Uber, Nike, Tesco, Ticketmaster, Google Play, and others.

In addition, Coinbase said that customers who purchase e-gift cards will be able to enjoy zero withdrawal fees.

Presumably, this would provide further transactional flexibility for regular users, who would be able to use their cryptocurrency for purchasing selected day-to-day items or pay for services.

Do you think Coinbase’s e-gift cards will enhance the cryptocurrency spending experience? Let us know in the comments below!

Images courtesy of Pexels, Glassdoor

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Written by Georgi Georgiev @ July 25, 2018 Georgi Georgiev

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