Coinbase, one of the largest cryptocurrency exchanges out there, announced with a blog post a new partnership with WeGift in order to bring cryptocurrency gift cards that can be used at real-world retailers. Currently, these gift cards are available to customers from the UK, Spain, France, Italy, Netherlands, and Australia, and they can be used across 120 retailers like Nike, Tesco, Uber, Google Play, Ticketmaster, Zalando, and many others.
As per the company, the withdrawal fee will be slashed to zero when people use their Coinbase Wallet to buy these gift cards. In addition to zero withdrawal fee customers will also be able to avail bonuses from WeGift ranging from one to nine percent depending on the gift card you choose to buy. So, if you buy a $100 gift card with a bonus of 5%, you get a gift card that values $105. The complete list of bonuses is available here.
Keep in mind that Coinbase only supports a limited selection of cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin – so if you plan to move your crypto to Coinbase, you will be required to convert any altcoins to these currencies.
Source: Coinbase Blog