Coinbase, one of the leading cryptocurrency exchanges in the world, announced instant withdrawals for users in the United States, the United Kingdom and Europe. Individuals will be able to withdraw their funds using VISA or Mastercard debit cards. The information was released by Coinbase in a blog post a few hours ago. 

Coinbase Announces Instant Debit Card Withdrawals

Traders and crypto users using Coinbase will now be able to withdraw funds using debit cards in Europe, the United States and the United Kingdom. As per the official press release, customers will be able to select between instant and standard withdrawal methods and see the fees before confirming the withdrawal.

As per the post released by Coinbase, instant debit cards withdrawals are going to have a fee of approximately 1.5% for users in the United States (with a minimum of $0.55 fee). In the European Union or the United Kingdom, the fees are going to be up to 2%. 

Terry Angelos, SVP and global head of fintech, Visa, commented about this new integration with Coinbase:

“By enabling real-time card withdrawals through the Visa Direct capability, Coinbase is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 60M merchant locations where Visa is accepted.”

The executive vice president, Digital Partnerships at Mastercard, Sherri Haymond, explained that with the new integration with Mastercard it will be possible for Coinbase customers to have their funds withdrawn securely and seamlessly. 

For several years, Coinbase allowed users to exchange, hold, buy, sell, receive and send digital assets. While it started offering Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), the company expanded and it is now offering a large selection of trading pairs for users to enjoy their trading activities.

Users could link their bank accounts to their Coinbase profile in just a few steps. However, being connected to a debit card is going to make things easier to users that want to deposit and withdraw their funds almost instantly. 

With this new feature, Coinbase is one of the first exchanges offering users with this possibility. Now, the platform will be one of the best to enter the market and acquire virtual currencies and also withdraw profits and funds in case the investors decides to do so.