Since its launch, Bitcoin faced pressure from community members on the topic of scalability. Specifically, that the size of blocks – set at 1 megabyte (MB), or a million bytes, in 2010 – would slow down transaction processing times, thus limiting the currency’s potential, just as it was gaining in popularity. The block size limit was added to the Bitcoin code in order to prevent spam attacks on the network at a time when the value of a Bitcoins was low. By 2015, the value of Bitcoins had increased substantially and average block size had reached 600 bytes, creating a scenario in which transaction times could run into delays as more blocks reached
Debit cards, on the other hand, allow you to buy cryptocurrencies available on the platform pretty much instantaneously. Simply by transferring funds from that card to the platform, you can purchase cryptocurrency in an instant. However, debit cards cannot be used to sell crypto, to deposit money in one’s account, or to withdraw money from one’s Coinbase account. On Coinbase, debit cards can be used exclusively to purchase crypto, and even then, only in smaller amounts. With a debit card, the limit is much lower than with a bank account ($1,125). It should be noted, though, that limits are, or can be, increased by purchasing cryptocurrency and spending a particular amount of money in doing so, either from a bank account or a debit card.
Even industry experts who believe that bitcoin is not a sustainable monetary unit think blockchain technology could radically change the way financial transactions are facilitated in the future. The benefits of this system are that it is transparent, secure, and streamlined, so that there are less parties involved in facilitating each and every transaction.