Coinbase Card will allow UK in-store payments using Bitcoin, Ethereum and Litecoin

Coinbase, one of the biggest cryptocurrency exchanges based in the United States, has announced the launch of the Coinbase Card.

The Visa debit card will enable Coinbase's customers based in the UK to "Spend crypto as effortlessly as the money in their bank."

A major US-based cryptocurrency exchange, has challenged this and launched its eponymous Coinbase Card.

The exchange teamed up with global payments processor Visa to launch the card which will, as the company put it, allow users to "Spend crypto as effortlessly as the money in their bank."

According to the company's release, the Coinbase Card is powered by customers' Coinbase.

The card can be used to make payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. The company says the card can be used with any merchant on the Visa network, as coins will instantly be converted into fiat currency such as GBP. Users will be able to control which of their crypto wallets.

The Coinbase Card will be issued by Paysafe Financial Services Limited, the company said.

Which is an electronic money and payment instruments issuer authorized by the Financial Conduct Authority of the UK. While the debit card will have a £4.95, or $6.50 issuance fee, Coinbase will waive the charge for the first 1,000 to join the watchlist.

The news about the card was met with mixed reviews, as some users were worried about the possibility of high fees that would make the card virtually useless.

We are yet to see the adoption the Coinbase Card sees in the future.