So Coinbase has just launched a cryptocurrency debit card operated by Visa. The account will draw directly from their users' accounts. People can join the waitlist to get it.
Don't get it.
I'll tell you why.
Coinbase launched this news to cover up the story that came out earlier today about how they shut down trading, as Bitcoin price rises and inches towards $13,800. Since Bitcoin cracked $10K, Coinbase always just so happens to shut down trading. This really isn't the first time Coinbase has disabled trading. It's actually a running gag amongst the crypto community.
How can they disable trading, then launch a crypto debit card they claim you'll be able to connect your account to? It's so obvious they're trying to cover their tracks. It's such an obvious case of damage control from Coinbase because they're on the way out. Uniswap has already eclipsed them in total volume.
In this revolution, there will be rogue agents, and in my opinion, Coinbase is one of them. We've already seen the CEO Brian Armstrong trying to control the political atmosphere of the workspace. We've already seen them rat out 10,000 high level users to the IRS. They're honestly the worst of the big name crypto exchanges. The tide is forming of seasoned crypto investors swapping coins natively on their wallets, and using DEX's like Uniswap.
They're even working with J.P. Morgan, one of the evilest banks in human history, on banking. They're not to be trusted. Giving them even more information than they deserve is just not a good look.
Stay away from the Coinbase card. It's crap.
Get a Crypto.com card instead.
They have much better cards, with rewards and way more user friendly features. It's available in every US state except New York, offers up to 10% interest on your stablecoins. Coinbase doesn't even offer this, and the most you can earn in interest is 4% and only by holding Stellar. On your Bitcoin you only get 1% interest.
You can also stake its CRO token, which gives more rewards, the more CRO you HODL. Crypto.com also offers free Netflix and Spotify subscriptions, and discounts on travel through Airbnb and Expedia. Best of all their entry level card is free.
Best of all, with Crypto.com, you connect your own wallet to the platform and own your keys. Can't say the same about Coinbase.
Crypto.com also offers a referral program where everyone who signs up gets $50 worth of their CRO token. You can get yours here (enter code 48cbh5v94g in the referral code screen). Once you sign up, you get your own referral code, which you can then use to earn by referral.
Also if you're new to crypto check out my free dictionary that teaches you the terms and phrases used by all of us in the crypto community. By keeping this pocket dictionary handy, you'll be up to speed and understand even better what's being discussed.