A regular bank account provides a safe store for your fiat currency. It allows you to withdraw your assets whenever you want to make purchases at varieties of stores anywhere in the world. But is it really better than the newly introduced Coinbase Card?
Let’s take a look at how it works, the advantages and disadvantages of the new crypto card system and figure out which is really better.
Coinbase cards are debit cards that can be used at several locations across the globe as payments for transactions. The card can also be used for the withdrawal of fiat at ATMs for other purchases and transactions. The card supports 9 coins. Coinbase cards run with the overall intention of improving the speed of purchases and maxing out the efficiency of cryptocurrencies on transactions.
Coinbase Card or Bank Account?
The relationship between Coinbase Card and bank account is more interactive than competitive. Bank Accounts and Coinbase can work together to make transactions faster and more efficient. Naturally, your Coinbase card can be funded with cryptocurrency assets by funding your Coinbase wallet and topping up your Coinbase Card with value transferred from your wallet.
How can you integrate Coinbase Cards with Bank Accounts?
First, you need to know just how to move your money from your bank to your Crypto wallet. There are two ways you could do this:
- Transfer fiat from your account to your Coinbase wallet, then load your card.
- Purchase Cryptocurrency directly with your bank account.
How to deposit funds from your bank to your Coinbase wallet (USD)
- Link your Coinbase wallet to your bank account. Make sure your name on your Coinbase wallet matches the name on your bank account.
- Initiate an ACH transfer
- Top up your Coinbase Card
How to purchase cryptocurrency directly from your account
- Link your Coinbase wallet to your bank account.
- Choose your bank account as a payment method on your coinbase wallet. Your name on your bank account must match the name on your Coinbase wallet to be able to make a transfer.
- Initiate an ACH transfer for the cryptocurrency you’re looking to purchase.
Your cryptocurrency will be made available in your wallet as soon as your payment is approved.
Which is better?
If you prefer to pay with your crypto assets without first having to convert your value to fiat, then Coinbase Cards would be one of the best ways to facilitate your transactions. If, on the other hand, you tilt towards the more traditional methods, then your regular account would be just as good as any other medium to help facilitate your transaction.
From a global point of view, it is quite clear that Coinbase cards are better. The world is turning more and more to digital currencies and systems for payments. It would be best if everyone got in tune with these systems as soon as they can.
So, connect your bank account to your Coinbase wallet and begin enjoying the great benefits of full-scale digital transactions.