Coinbase supports debit card purchases of Bitcoin to meet real-time Bitcoin purchase needs

Long-time Coinbase users know that cryptocurrency hasn’t made it easy to buy bitcoin.
Before each purchase, you must contact your US bank account to verify it with two small deposits, and then the Bitcoin will be added to your wallet after five days, after which you can make purchases. Then US Bank will add instant purchases (allowing you to get Bitcoin immediately), but you must have a credit card associated with the account as a backup payment method.

That’s finally changing, as Coinbase has announced that from now on all Bitcoin users in the United States will be able to instantly buy Bitcoin using a debit card.

This is a huge deal, mainly because more and more consumers in the U.S. rely solely on debit cards to complete their payments. Because they have to wait 3 to 5 days to receive Bitcoin, many users no longer buy it, and many consumers no longer use the Coinbase platform, but prefer companies such as Circle.

Coinbase will charge a 3.75% fee for the privilege of using a debit card. Currently, Coinbase charges a 1% fee for purchases made through a bank account. In addition, Coinbase will require all users using debit cards to verify their identity before making their first purchase.

But there is a downside: Coinbase limits debit card purchases to $250 per day, while bank account purchases can only reach $10,000 per day.

But even with additional verification and lower purchase limits, accepting debit cards would still allow a large number of new users to sign up and buy Bitcoin through the platform.

The company said that while users in most European countries have been able to buy bitcoin with debit cards through Coinbase since last summer, the trend will soon expand to other countries.

JPM compiled from

Techcrunch, Coinbase is finally letting you buy Bitcoin instantly with a debit card , by Fitz Tepper.