The popular bitcoin wallet has announced a sufficient increase of commission for buying bitcoin with plastic cards as a part of the new fee plan. The bitcoin community is not amused.
According to the official statement, from 5 August the unified rate for debit and credit card bitcoin purchases will be 3.99% per transaction. The new rates are effective for all countries where Coinbase officially works.
“Using our wallet services to send, receive and store digital currency is free. We even pay the network transaction fees which are included with most digital currency wallets,” reminds Coinbase in a press release.
The new rate of 3.99% is higher than the rates previously announced for some countries. Last year, the official Coinbase card fee in the UK was 3%, in the United States – 3.75%. Meanwhile, some users claim they have been able to purchase the cryptocurrency with fees as low as 1%.
The company announced the new system of fees soon after the introduction of instant bitcoins purchases with debit and credit cards in Singapore, Australia and Canada.
Coinbase, founded in 2012, is a San-Francisco-based company and one of the most popular bitcoin wallets and trading platforms in the world operating in 32 countries. For registration, it requires thorough user identification and providing full bank account details.