Coinbase will help you convert tokens into gift cards

Buying physical goods with digital currencies is still quite a difficult task. Coinbase plans to (partially) solve this problem by launching a new affiliate program with WeGift. Coinbase users in Europe and Australia will now be able to convert their tokens into gift cards to popular stores.

For example, users will be able to buy gift cards for Uber, Tesco, Google Play, Marks and Spencer, and so on. The feature is already available to users in the UK, Spain, France, the Netherlands and Australia.

While WeGift offers gift cards from dozens of merchants, most of them only operate in the UK. If you live in another country, your choices will be limited when purchasing a card. For example, in France you can buy Decathlon, Bloom & Wild, Global Hotel Card and Ticketmaster gift certificates. Coinbase says they will be adding more retailers to this list in the coming months.

In some cases, a customer will receive a small bonus for using WeGift. For example, if you spend £100 in Bitcoin on an Uber card, you will receive £102. In the US, Coinbase collaborated with Visa, however, Visa stopped working on a joint project with Wave Crest Holding, the issuer of all European cryptocurrency cards.

Many people believe that transferring money to a bank account is a much more convenient and practical way to transfer value than gift cards. However, this is a great way to hide earnings from cryptocurrency speculation from your bank. Many banks report information about their clients directly to the tax authorities. 

But still, do not forget that Coinbase can also track any of your transactions and report it to the tax authorities.

According to techcrunch.com