Is Curve into Crypto?

While gazing around the Curve app I just found that the currency for curve Cash is CPT


Anyways after a little research I came access a crypto currency named Cryptaur with short code of CPT in coin market cap

I am really wondering if Curve is coming with or partnering with some crypto to deliver it’s services.
I am really looking forward to it.

CPT stands for Curve PoinTs and has nothing to do with Crypto. 100 Curve Points have a value of £1.

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No curve dont have cryptocurrency

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I believe the market for crypto currency is too saturated with portfolios.

Meanwhile it would be nice if Coinbase could accept Curve as a payment method.
And also wondering if the Coinbase card can be added to Curve without any issues (still waiting on them to process my ID and address verification, stuck for months now).
I’m planning to cut down the amount of fintech cards to the most feature rich ones:

  • TransferWise for fiat, because they provide real bank account numbers in various (and slowly expanding) currencies,
  • Coinbase for crypto, because they support a handful of the most common, trending currencies (I have a Ledger for safekeeping though).

I will keep my local bank and card as well, because it’s good to keep that around (also, it’s in Hungarian forints.

And I will have these three in my Curve account, nothing else, and add Curve card to the accounts where applicable.

Slimming, rationalizing, this will be the 2020 project. :smiley:

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I’ve tried adding my Coinbase card multiple times, but the verification process always fails. I’ve contacted Coinbase support regarding this, and it seems as if they are deliberately blocking Curve (blocking both the Coinbase card from being added to Curve, and blocking Cuve as a payment method, as you mention).

I have informed Curve of this issue as well. I see no good reason why Coinbase would choose to block their ordinary VISA debit card from being added to Curve. Hopefully this will be fixed at some point.

Isn’t crypto against Curve’s Terms of Service ?

Correct - Curve’s TOS don’t allow Cryptocurrencies at this stage.

Clause 17.1.2:

  • 17.1.2. for any illegal purpose including activities pertaining to escort services, gambling, direct marketing, purchase, sale or trade of cryptocurrencies or foreign currency, money orders (not wire transfer) and travelers cheques transactions made at non-financial institutions;

I wonder if the Coinbase card would fall under this category though. The Coinbase card is a regular VISA Debit card, which currency is in GBP. When using the Coinbase card, the funds are taken from the user’s Coinbase account (which can be GBP/other fiat, or a cryptocurrency).

But regardless of whether or not Coinbase does any conversion of crypto to fiat behind the scenes, the card itself remains a VISA Debit that uses GBP.

The whole point of Coinbase is to enable people to “Buy and sell cryptocurrency” as they put in big letters on their website and that is against Curve’s Terms of Service. I don’t think it matters that the card they (Coinbase) offer is a Visa because any funds that would transit through Curve would be in furtherance of an explicitly prohibited activity.
I could of course be wrong but that’s what I understand from the situation and it is only theoretical until someone from Curve answers the question.

Well, I can’t speak on behalf of Curve, but their support team has been very helpful in trying to help me verify my Coinbase card. But as Coinbase are actively blocking Curve, there isn’t much that can be done.

The point reamins though, the Coinbase card is a VISA Debit, and the underlying currency is not crypto, but Pound sterling. If for whatever reason someone would want to get Coinbase, and only keep GBP/EUR/USD in their wallet, then they would be able to use the Coinbase card for transactions with those currencies.

With your reasoning Revolut should not be allowed with Curve as well. Revolut is in a way identical to Coinbase card. Both are “regular” Mastercard or VISA debit cards (or prepaid cards), and their underlying currencies are both Pound sterling. Both cards (Revolut and Coincase card) can “use” cryptocurrencies for transactions. But the underlying currency remains GBP.

Again, my understanding is that Curve wouldn’t have a problem with users adding Coinbase cards. The Curve support team being very supportive in my case trying to get my card to work seems to confirm that.

Using Curve to buy cryptocurrencies (whether it is on Coinbase or any other website) is another matter of course.

I agree, based on this it shouldn’t fall out of the TOS. I’m surprised Coinbase is actively blocking Curve though. What reason (s) did they give @KL?

I was surprised as well. They’ve given me no reason whatsoever.

The first time I asked them about this they simply said that Curve isn’t supported.

After this I wrote a pretty lengthy response asking why Curve isn’t supported, and why they’ve chosen to block Curve.

These are the two (non-)replies that I’ve received from Coinbase card regarding this issue.

Feb 25, 18:39 PST

Hi KL,

At this time, the Coinbase Card cannot be added Curve.

Thanks,
Nicole

Mar 2, 12:56 PST

Hi KL,

*The Coinbase Card currently does not support being added to Curve. If this changes we’ll be sure to let you know. *

Thanks,
Nicole

Interesting - is Curve being singled out here or are no other cards allowed to be linked either? e.g. Revolut

Could just be that they’re working on a solution. I remember reading about 3DS being a requirement in some cases, something Curve has recently released.

For whatever reason I tried to drop a little bit of pocket money into my Coinbase/Binance/Uphold account with my Curve card, but it got rejected with all three. I hopethis will change.

(I’m now Level 2 verified on Coinbase, but their card app tells me I have to be verified to Level 2 on coinbase. which I am. So, weird.)