How to actually buy bitcoins is one of the most frustrating, trickiest, and most inconvenient parts of getting started with digital currency. It may very well be the primary reason Bitcoin has not reached mainstream acceptance in well over 6 years of existence. Now, Coinbase looks to change this with a new test service that will make buying a bitcoin as easy as buying a latte at your local Starbucks.
Finally put your bitcoins on your debit or credit card
A Reddit user revealed that they received and email from Coinbase highlighting an exciting new pilot program for pre-selected Coinbase users. The test program will be for those in the United Kingdom or Spain only, at least initially. Presumably, if all goes well, it will expand to the United States and other nations. Part of the email reads:
"We're excited to announce support for purchasing bitcoin with a credit or debit card. When purchasing with a credit or debit card, you'll receive your bitcoin instantly. To start, we'll be gradually rolling out credit and debit card purchase support to users in the UK and Spain."
This news follows a recent accolade where Coinbase was listed over the weekend by the New York Times amongst the world’s 50 hottest new startups. In the article “50 Companies That May Be the Next Start-Up Unicorns,” research company CB Insights has developed an algorithm that can detect the next “Unicorn” or billion dollar business startup. The algorithm includes factors like the amount of financing raised, employee turnover and social media mentions.
Coinbase, which opened its services in 2012 and its first North American exchange earlier this year, currently has over 3.8 million bitcoin wallets on its books and over 2.4 million registered users.