The Coinbase card is a crypto debit card that allows users to spend their cryptocurrencies anywhere Visa debit cards are accepted. This makes it a very convenient option for those who want to use their cryptocurrencies for everyday transactions.
The cryptocurrency industry has seen a lot of growth in recent years, with cryptocurrency exchanges introducing new and innovative ways for consumers to maximize the use of their preferred coins.
Coinbase is one of the largest cryptocurrency exchanges in the United States. It offers a lot of digital money. Coinbase has a debit card that people can use to get rewards for buying things and spending their money on it.
Let’ discover more about the Coinbase card:
What Is Coinbase Debit Card?
The Coinbase debit card is a Visa card that allows you to earn rewards each time you make a purchase with cryptocurrency instead of cash. You can use it for everyday purchases, and you will earn 4% for every purchase. It has no fees like other debit cards making it the most attractive option for crypto traders.
The Coinbase Visa debit card allows you to spend your cryptocurrency anywhere that Visa is accepted. You don’t have to liquidate your assets every time you make a purchase—Coinbase does this for you. The card automatically converts your digital assets into U.S. dollars each time you make a transaction.
When you sign up for a Coinbase debit card, you will have a choice to pick how much money you want as your reward. You can pick between 1% back in Bitcoin or 4% back in Stellar Lumens. You can switch these rewards around once you find one that sounds better than the other one. After each transaction, Coinbase will give your reward to you.
Coinbase Card Features
Take a look at some of the features that the Coinbase card offers.
$0 Annual Fee
Coinbase offers a crypto- debit card with no annual fee, making it one of the most preferred cards for spending. You can shop at your favorite stores and earn rewards while not having to pay an exorbitant yearly charge.
Supports Multiple Cryptocurrencies
Although Coinbase wallet supports a few different coins, you can only earn rewards for bitcoin and Stellar Lumens.
Coinbase has two-step verification and you can instantly freeze your account if you suspect it has been compromised, which makes it a very secure option.
The Coinbase debit card can be used in any country and in any currency so you don’t have to worry about changing your currency. You will get a real-time notification when you spend more than 100 USD so this makes it easy for you to keep track of your expenses.
Since all transactions are linked to your phone, you can be sure that you are spending money on what you meant to.
Coinbase allows you to earn rewards. You will get 1% back in Bitcoin and 4% back in XLM. Coinbase will give you your rewards when you buy from a merchant. It might take one to five days for the rewards to come, but the exact time of the disbursal of the reward varies, depending on the merchant.
Coinbase is flexible and gives you the power to change your rewards structure whenever you want.
Contactless payments are a great way to avoid having to fumble through your wallet or purse to find your card. You can also use your Coinbase card to make contactless payments at stores that have NFC enabled terminals, as long as the store supports this technology.
The Coinbase card does not have any fees for getting the card or for using it every year. You will only have to pay some fees depending on how you use the card. Coinbase takes a 2.49% transaction fee for every purchase, including ATM withdrawals. If you spend $200 of Bitcoin using your Coinbase card, you’ll incur a 2.49% fee, which is $4.98.
Coinbase has a mobile app that makes it easy to manage your spending on the go. You can track where all of your money goes, and change settings such as rewards card or even spending habits in just a few seconds.
The Coinbase card app has a neat feature that lets you choose the crypto you want to spend. You can also turn on notifications so you don’t miss any important information.
Advantages And Disadvantages Of Using Coinbase Card
- Almost No Fees: Coinbase is the most popular way to buy and sell cryptocurrencies in America. With no annual fee, sign up fees or card issuance costs you can trade worldwide without breaking your budget.
- Robust security: With the Coinbase debit card, you can rest assured that your digital assets are safe. The two-step verification and other protective features will make sure nothing bad happens to them.
- Generous rewards: The card offers up to 4% of crypto-related rewards, including a nice 1% back in Bitcoin.
- Contactless Payments: Coinbase card is a revolutionary new way to pay with contactless and withdraw cash from an ATM.
High Liquidation Fees: The Coinbase card is a great way to spend your cryptocurrency, but it has one major drawback: the high 2.49% liquidation fee for all purchases made with this card.
Is Coinbase Debit Card Safe?
Coinbase has some of the most secure features you can find on a debit card. With two-step verification and instant freeze, your coins are protected.
Coinbase offers a variety of ways for you to get in touch with them if you face any problems related to the security of your account and transactions. You can contact it via phone, email or through its mobile app if there’s something wrong with your account.
Coinbase offers a wide range of helpful resources for users to make their experience with the company as easy and straightforward as possible. For any issues pertaining directly to account recovery or suspension, you should submit an email request through Coinbase’s website’s contact form so that they can assist in addressing whatever may be causing concern at that time.
Coinbase offers a wide range of customer service options to help you get your issue resolved. However, Coinbase has not yet started live chat support.
The Coinbase Card is perfect for active crypto traders as it offers generous rewards for everyday spending. The card also supports multiple cryptocurrencies and has almost no fees, making it a great option for anyone who wants to earn rewards for their everyday purchases.