Coinbase Card is now supported by Apple Pay, Google Pay

The Coinbase Card is a Visa debit card that allows users to spend cryptocurrency as cash across the globe. Support for Apple Pay will allow Coinbase Card users to quickly activate their cards and make contactless payments on an iPhone or Apple Watch.

Although the card is already out, many applications are still on a wait list. Coinbase says it'll sending invitations to those on its wait list starting the week of June 1.

After they apply and are accepted, Coinbase Card users can add their cards to Apple Wallet while they wait for the physical debit card in the mail. Existing Coinbase Card users will also be able to add their cards to Apple Pay beginning immediately.

The Coinbase Card works by automatically converting any cryptocurrency in a user's Coinbase account to U.S. dollars. Standard conversion fees apply, but users will be able to earn up to 4% back in cryptocurrency rewards.

Coinbase notes that purchases made with a Coinbase Card will "typically result in a capital gain or loss." More information can be found on the company's website.

Those interested in a Coinbase Card can sign up for the wait list at the company's website.

Evidence that the Coinbase Card would support Apple Pay and Google Pay first surfaced in an iOS beta back in April.

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