Coinbase Launches Its Crypto Debit Card in Europe. Will It Push Bitcoin Price to $10,000?

  • Alex Dovbnya
    📰 News

    🔬😀After successfully testing the waters in the UK, Coinbase now ventures into major European markets with its debit card💰💳


Coinbase Launches Its Crypto Debit Card in Europe. Will It Push Bitcoin Price to $10,000?
Contents

San Francisco-based cryptocurrency juggernaut Coinbase has officially launched its cryptocurrency debit card in Italy and five other European countries, CNBC reports. The ‘Coinbase Card’ has already been a success in the UK where it was launched back in April.  

Setting sights on Europe

Coinbase rolled out its credit card in order to allow its customers to make purchases directly with Bitcoin and other major cryptocurrencies.

The modus operandi of the ‘Coinbase Card’ is similar to that of any other similar card – your crypto is being directly converted into cash when you make a purchase, which means that merchants do not actually have to deal with the volatile asset.

European users can either download the Coinbase Card app or order a physical card that will set them back £4.95 a pop.

You can buy groceries on Bitcoin and then coffee on Litecoin right after," Coinbase U.K. CEO Zeeshan Feroz commented on the recent expansion effort during an interview with CNBC.

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Adoption is growing

This is supposed to be a boon for adoption given that Coinbase is the leading cryptocurrency exchange in the world by the number of users.

Back in May, Forbes predicted that the recently launched card would be able to push the price of Bitcoin up to $10,000.

As of now, the top cryptocurrency by market capitalization is sitting just below the $8,000 level, according to CoinMarketCap data.

As reported by U.Today, Flexa recently launched a new payment app called Spedn in partnership with the Winklevoss twins, thus letting Whole Foods and other retail giants accept crypto.

Cover image via www.123rf.com
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
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Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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