An additional feature of Coinbase now allows its users to buy electronic gift cards as a result of partnership with WeGift without deducting any withdrawal charges out of user cryptocurrency wallets. Zeeshan Feroz of Coinbase writes;
Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience. With the launch of e-gift cards, customers now have the option to spend their crypto balances, realizing its value to buy tangible things or experiences.
Purchasing a tangible item directly using one’s bitcoins is still a hard nut to crack. Despite the availability of a range of goods and services a person can enjoy out of cryptocurrency; volatile price movements and a substantially huge withdrawal fee makes it less likely favored by many crypto traders. Coinbase – the Sans Francisco headquartered exchange, not only allows trading of digital currency like bitcoin, bitcoin cash, litecoin and ethereum but this financial system is now open to converting tokens from Coinbase wallet to purchase crypto gifts. Customers residing in Australia and Europe can now enjoy about 120 e-gifts cards from their most preferred retailers like Uber, Tesco, Google Play, Marks and Spencer and more on the list.
How does one buy e-gift cards?
The process to purchase crypto gift cards is a lot easier than it seems. Just by entering into the Coinbase wallet, users can choose to set aside the amount intended to spend and purchase an eGift card of personal preference and taste from about ten different online retailers.
The fun part doesn’t end here…
Each retailer pertains a different sort of bonus to offer! For example, converting tokens from Coinbase wallets offers 2% bonus on Uber credits, 4% bonus of Mark and Spenser collection and many other bonus categories to look forward to.
Withdrawal time of eGift card is instantaneous and does not charge any withdrawal dues from cryptocurrency balance as compared to withdrawing money from bank, thus, offering its users a better value for money!
Coinbase has initiated this Crypto Gift Service in Europe, primarily in UK, Spain, France, Italy, the Netherlands and Australia. Every country is yet home to only a few retailers – with UK enveloping most but in case a person belongs to Italy or France, he will be open to a limited number of retailers. However, Coinbase claims to expand its services among more retailers by bringing them on board and extend it to other countries in a couple of months too.