Coinbase, the popular cryptocurrency exchange, recently announced the launch of their Coinbase Card in the U.S. The card is a Visa debit card that allows users to spend their cryptocurrency holdings in real-time at any merchant that accepts Visa cards. While the Coinbase Card has been met with great enthusiasm from the crypto community, it’s important for users to familiarize themselves with the Coinbase Card User Agreement before using the card.
The Coinbase Card User Agreement outlines the terms and conditions for using the Coinbase Card. It’s important to read this document carefully before using the card, as it contains important information about fees, limitations, and restrictions associated with the card.
One of the most important aspects of the Coinbase Card User Agreement is the fees associated with the card. While there is no fee to obtain the card itself, there are fees associated with using the card. These fees include a 2.49% transaction fee for purchases made with the card, a $2.50 ATM withdrawal fee in addition to any fees charged by the ATM operator, and a $5 fee for card replacement.
Another important aspect of the Coinbase Card User Agreement is the limitations and restrictions associated with the card. For example, there is a daily spending limit of $10,000 on the card, and a daily ATM withdrawal limit of $500. Additionally, the card can only be used in the U.S., and is not currently available in Hawaii or Vermont.
It’s also worth noting that the Coinbase Card User Agreement includes important information about the security and protection of the card. Coinbase takes security seriously, and the card comes with multiple layers of security to protect users’ funds. These security features include two-factor authentication, fraud monitoring, and the ability to freeze and unfreeze the card instantly through the Coinbase app.
In conclusion, the Coinbase Card User Agreement outlines the terms and conditions for using the new Coinbase Card, and it’s important for users to familiarize themselves with this document before using the card. By reading the User Agreement, users can understand the fees, limitations, and restrictions associated with the card, as well as the security measures in place to protect their funds. Happy spending!