Yesterday the leading cryptocurrency exchange Coinbase announced a new option within their platform. Now Coinbase users will be able to withdraw their crypto-funds to various gift cards. At the moment this option is available only for Australian and European Union Coinbase users.
The new service allows users to spend their Coinbase funds on e-gift cards like Uber, Tesco, Google Play, Nike, Ticketmaster and many more. They have partnered with WeGift and
“Customers purchasing an e-gift card will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts. From converting bitcoin into Uber credits or either into a Nike shopping spree, customers will have greater flexibility and control over how they use their crypto”, says in their blog post. “With the launch of e-gift cards, customers now have the option to spend their crypto balances, realising its value to buy tangible things or experiences.”
Well this is another step towards mass crypto adoption, its nice to see that with this service you wouldn’t have to withdraw anything to fiat money at all and that means, that physical money is slowly fading away.