Coinbase Has Competition: CoinZoom Is The First Bitcoin And Crypto Exchange To Offer Visa Cards In The US
It seems that Coinbase has a pretty interesting competitor these days, according to the latest reports.
CoinZoom is an exchange that’s been just launched in the US, and it’s claiming some industry-first features for crypto users and traders as well.
In a few tweets, he said that he believes the stock market drop and the massive reduction in interest rates could boost the crypto industry in 2020.
A similar strategy to the one of Coinbase
The global digital asset exchange deploys a similar strategy to the one of Coinbase.
The exchange provides a Visa debit card that is allowing users to convert the crypto into US dollars, shop online, and make in-store purchases using digital assets such as BTC and ETH as Visa’s network of 46 million merchant locations.
The founder Tom Crosland stated the following:
“CoinZoom is not only the first US cryptocurrency exchange to provide a Visa card to its customers but also offers or industry-first features like ZoomMe, CoinZoom’s free peer-to-peer crypto, and fiat payment system.”
Crosland added the following: “ZoomMe is like ‘Venmo’ but better. Customers can send crypto and fiat for free to friends and family anywhere in the world for free.”
The online publication the Daily Hodl noted that the platform supports buying, selling, and spending Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), and more cryptos.
CoinZoom plans to create a massive user base
CoinZoom plans to build a massive user base this year, and the firm is targeting 500,000 potential customers.
CoinZoom, a U.S. Regulated Cryptocurrency Exchange Officially Launches Crypto Trading Platform and CoinZoom Visa Card https://t.co/rpARWY2BiG
— CoinZoom (@GetCoinZoom) March 18, 2020
“CoinZoom also provides customers with a premier fiat gateway for funding their accounts. There are several funding options, including both Visa and Mastercard debit card options,” the official notes said.
The announcement triggered massive excitement in the crypto space.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.