Coinbase Card adds support to DAI
Coinbase Card adds support to DAI
Crypto

Coinbase Card adds support to DAI

By Alfredo de Candia - 6 Dec 2019

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Coinbase officially announced that it has added support to the stablecoin DAI as a payment method to be used with the Coinbase Card.

Only last week Coinbase announced and expanded the range of cryptocurrencies that can be spent through its card, giving the possibility to use Stellar (XLM), Augur (REP), Brave (BAT), Ripple (XRP) and 0x (ZRX), in addition to other more popular crypto such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and many others.

Obviously, since cryptocurrencies are subject to market fluctuations, in periods of price contraction it can be inconvenient to pay in crypto currencies, but with the use of stablecoins, in this case DAI, this does not happen since its value will be equal to $1 dollar.

In addition, we must remember, recently has been activated the new multi-collateral protocol of the stablecoin DAI – now called SAI – which allows you to open position using other cryptocurrencies in addition to Ethereum (ETH) as collateral. For the moment, in fact, the stablecoin has added support to BAT, the token of the Brave browser.

Coinbase last month also announced the listing of new cryptocurrencies for British users in order to allow them to buy and sell cryptos directly using the pounds without having to change them into euros or dollars first.

 Coinbase Card can be requested by anyone by downloading the app. Obviously you have to link it to your Coinbase account so you can use the funds held on the exchange. 

According to the latest news from the DeFi world, the migration from SAI to DAI has exceeded 20 million tokens: in fact, according to a report by Sai2Dai.xyz, there are now more than 20 million SAI stablecoins converted into the new DAI tokens. 

DAI has certainly been very successful in the last period, so much to be integrated by more and more services including Compound and Eidoo.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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