It’s not quite handing over Bitcoin at point of sale, but Coinbase has a new plan to let you pay for goods with crypto…
For many, the tipping point for cryptocurrency and its mainstream acceptance will be when you can walk into a store and buy things with your coins. There are immense hurdles to that formally happening, of course, not least with many legislative bodies around the world taking quite a hostile approach to crypto.
However, there are also companies working to get around that.
Coinbase is one of them, and it’s inked a fresh deal with WeGift. The fruits of said deal are that Coinbase users can now acquire an electronic gift card, that they can stack up with cryptocurrency from their wallets. The gift card will then be acceptable tender with over 100 retailers, including sizeable names such as Uber, Amazon and Tesco.
It’s not a worldwide scheme as of yet, with the UK one of the few territories – as well as Spain, Australia, Italy and France – where the card will be available. We’d assume a broader rollout is on the cards, though.
“Whether it’s converting Bitcoin into Uber credits or Ethereum into an ASOS e-gift card, customers will have greater flexibility and control over how they use their crypto”, read Coinbase’s official announcement. “With the launch of e-gift cards, customers have a new option to spend their crypto balances, realizing its value to buy tangible things or experiences”.
The cards – that are free, not including the currency of course – are available to Coinbase customers imminently.