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Quick Take: The Coinbase card is a crypto debit card that allows users to earn up to 4% back in rewards for every purchase made. The card has no annual fee or sign up fee, making it the most attractive option for many crypto traders. Apart from that, cardholders can use the card anywhere Visa debit cards are accepted.
- Customer Service
How did we calculate this?
- Supports multiple cryptocurrencies
- Generous crypto rewards
- Intuitive mobile app
- Contactless payments
- Robust security
- Ability to transform crypto account to a spendable bank account
- 2.49% cryptocurrency liquidation fee
The cryptocurrency industry has gained much traction in recent years, with cryptocurrency exchanges introducing better ways for consumers to get the most out of their preferred coins.
Coinbase is one of the largest cryptocurrency exchanges in the U.S., offering a broad selection of digital assets. It currently offers a debit card that allows users to earn rewards and other perks whenever they spend.
Find out more about what the card offers in this Coinbase Card review.
What Is Coinbase Debit Card?
Coinbase debit card is a Visa card that allows you to earn up to 4% back in rewards each time you make a purchase. This card is like any other traditional debit card, but it allows you to make purchases using cryptocurrency instead of cash.
It’s essentially a Visa debit card linked to your Coinbase crypto account balance that you can use anywhere that accepts Visa cards. You don’t have to liquidate your digital assets every time you visit a store — Coinbase does this for you. For every transaction, the card automatically converts digital assets into U.S. dollars.
When signing up for a Coinbase debit card, you’ll have an option to choose your preferred rewards. You can choose between 1% back in Bitcoin or 4% back in Stellar Lumens. However, you can switch between the two reward structures whenever you find one more appealing than the other. Once you set up your preferred reward offer, Coinbase can credit your rewards to your account after each transaction.
Coinbase Card Features
Take a look at some of the features that the Coinbase card offers.
$0 Annual Fee
The Coinbase debit card has no annual fee, making it one of the most preferred crypto debit cards. You can shop at your favorite stores and earn rewards, and you don’t have to pay an annual fee.
Supports Multiple Cryptocurrencies
The Coinbase wallet supports a broad selection of cryptocurrencies, including:
- Stellar Lumens
- Bitcoin Cash
Even though the Coinbase wallet supports several coins, keep in mind that you can only earn rewards for bitcoin (BTC) and Stellar Lumens (XLM).
With the Coinbase debit card, you don’t have to worry about losing your digital assets because Coinbase has extensive security to keep your coins safe. Plus, it has a two-step verification and you can instantly freeze your account if you suspect it has been compromised.
As mentioned earlier, the Coinbase card lets you earn rewards every time you purchase at your preferred stores. You can earn up to 4% crypto-related rewards, including 1% back in Bitcoin and 4% back in XLM.
Coinbase will disburse your rewards once a transaction is complete. It will typically take anywhere between one to five days for the rewards to hit your account, but it the exact times will depend on the merchant.
What’s more, Coinbase gives you the flexibility to choose your preferred reward structure, with the ability to toggle between the two whenever you see fit.
You can make contactless payments using the Coinbase card at your favorite stores, provided that the store has a near-field communication, also known as NFC, terminal enabled.
When it comes to fees, the Coinbase card stands out. From the no card issuance fee to no annual fee, you’re likely to get the most out of it without racking up yearly charges. However, you’ll still incur some fees based on how you use the card.
Coinbase will charge you a 2.49% transaction fee for every purchase, including ATM withdrawals. For example, if you spend $200 of Bitcoin using your Coinbase card, you’ll incur a 2.49% fee, which is $4.98.
Coinbase has an intuitive mobile app that makes it easy to manage your spending on the go. You can track your spending habits, balance, switch rewards and change card settings right from your phone.
Another interesting feature about the Coinbase card app is the ability to choose the crypto you want to spend. You can also turn on app notifications so that you don’t miss out on any important information.
Advantages of Coinbase Card
- Almost no fees: Coinbase card has no annual fee, sign up fee or card issuance fee.
- Robust security: With the Coinbase debit card, you can rest assured that your digital assets are safe. The two-step verification, instant card freeze and other security features will protect your card and digital assets.
- Generous rewards: The card offers up to 4% of crypto-related rewards, including 4% back in Stellar Lumens and 1% back in Bitcoin.
- Contactless payments: You can pay with a contactless payment method at your preferred stores and even withdraw money from any ATM.
Disadvantages of Coinbase Card
- 2.49% cryptocurrency liquidation fee: One of the significant drawbacks of the Coinbase card is the high cryptocurrency liquidation fee. You’ll incur a 2.49% transaction fee for all purchases.
Is It Safe?
Coinbase is among the safest debit cards on the market today. With two-step verification, instant card freeze and other security features, both your coins and card are secure.
You can contact Coinbase customer service via phone, email and through the mobile app. If you suspect that your account has been compromised, you can call Coinbase through its automated phone support to disable your account.
For anything apart from that — including recovering your account after being disabled — you’ll need to submit an email request. What’s more, Coinbase has a help center where you can get answers to most of your queries.
Although Coinbase doesn’t have live chat support, you’ll likely get the help you need with the available customer service options.
Who Is It Best For?
If you’re an active crypto trader, the Coinbase Card might be the crypto debit card you’ve been looking for. The card is also ideal for anyone who wants to earn rewards for everyday purchases.
The Coinbase card is undoubtedly one of the most popular crypto debit cards on the market. The card has almost no fees, supports multiple cryptocurrencies and offers generous rewards for everyday spending, making it the go-to option for many traders and investors.
Coinbase Card FAQ
Here are the answers to some of the most frequently asked questions about the Coinbase card.
- Is the Coinbase card free?
- The Coinbase card does not charge fees, provided you spend on USDC. Other transactions attract a 2.49% liquidation fee or on purchases such as ATM withdrawls when using another form of crypto.
- How does a Coinbase card work?
- The Coinbase card allows you to draw your Coinbase account balances of cryptocurrencies to make purchases. For every transaction, the exchange automatically converts crypto into U.S. dollars.
- Can I use my Coinbase card anywhere?
- The Coinbase card is a Visa card and you can use it anywhere Visa is accepted.
If you're an active Coinbase user and hold cash or USDC in your account, the Coinbase card is worth using. The rotating rewards help you diversify your portfolio. And earning 4% back on certain cryptos is one of the highest rates out there. However, avoid spending crypto to earn crypto at all costs.Why is my Coinbase card getting declined? ›
Transactions may be declined for several reasons: You have insufficient funds in your account. You surpass the spending limit of $2,500 a day. You try to spend at a prohibited merchant category (learn more at "Where can and can't I use the Coinbase Card?").What are the limitations on Coinbase card? ›
The Coinbase debit card limit is $2500 per day.
This means that you can use your card to purchase up to $2500 worth of goods and services in a single day. If you need to make a larger purchase, you will need to either use another form of payment or split your purchase into multiple transactions.
You'll receive a physical Coinbase Card in the mail within seven to 10 business days. If you would like to use Coinbase Card through Apply Pay or Google Pay, you will need to create a PIN. You can do this within the app or by calling Coinbase Support.What is the point of the Coinbase card? ›
The Coinbase Card* is a debit card issued by Metabank and runs on the Coinbase platform. It allows you to spend any cryptocurrencies or U.S. dollars you own anywhere Visa cards are accepted. To spend your cryptocurrency, Coinbase will automatically convert all your cryptocurrency to U.S. dollars when making a purchase.How do I avoid Coinbase card fees? ›
If you want to buy Bitcoin with a debit card, you will receive your Bitcoin instantly, but there's a buying fee associated with it. But if you are willing to wait for the transfer, use your bank account to avoid the associated fees. Coinbase offers ACH transfer, free wire transfers and bank account transfers.Why can't i buy Coinbase with debit card? ›
Visa and MasterCard debit cards can be used to buy on Coinbase. We're unable to support prepaid cards or other cards without an associated billing address. To learn more about how to cash out funds using your debit card please see, Instant Card Cashouts.What is the best alternative to Coinbase? ›
Coinbase, the cryptocurrency startup, announced Tuesday (Feb. 13) that it disabled the ability for customers to add new credit cards as a payment method for those in the U.S.Does Coinbase report to IRS? ›
Yes, Coinbase reports to the IRS. It sends Forms 1099-MISC to the IRS for U.S. traders who made more than $600 in crypto rewards or staking. $600 is the Coinbase IRS reporting threshold for tax year 2022.
With the Coinbase Visa debit card, the largest cryptocurrency exchange in the United States, supports both Google Pay and Apple Pay, making it easier to use cryptocurrencies for regular transactions and bill payments. You can use your card to make purchases with cash, cryptocurrencies that you own, or to pay bills.Can I use my Coinbase card instantly? ›
Purchases made using a debit card or the USD balance are made available instantly. The ACH bank transfer system is used for payments with your bank account and typically takes 3-5 business days* to complete after initiating a purchase.Does Coinbase card have a monthly fee? ›
Are there any fees associated with Coinbase Card? There are no transaction fees for spending with the Coinbase Card. You can spend your default cash currency, USDC, or any supported crypto on Coinbase using your Coinbase Card and there will be no transaction fees.What is the maximum withdrawal from Coinbase? ›
Is there a maximum amount that I can withdraw? There are no maximum withdrawal limits on Coinbase Commerce—you can withdraw all funds at any point.Can I trust Coinbase with my debit card? ›
At Coinbase we go to great lengths to keep all of your sensitive information safe. Account numbers and routing numbers are stored using bank level AES-256 encryption on our servers. In addition, all traffic is encrypted in transit to prevent third parties from eavesdropping on your connection.Should you keep money on Coinbase? ›
Coinbase is generally a safe investment and is a secure platform for buying, trading, and storing cryptocurrencies like Bitcoin and Ethereum. It's one of the most trusted ways to exchange cash, and it employs strong security measures to protect users, including AES-256 encryption, 2FA, and cold (offline) asset storage.How does Coinbase make money from Coinbase card? ›
Coinbase generates revenue via staking, transaction fees on the Coinbase debit card, spread when converting cryptocurrency to fiat currency, and spread on cryptocurrency trades conducted on its platform.How much does Coinbase charge for $100? ›
Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions.What are the hidden fees on Coinbase? ›
Coinbase allows you to stake your assets in a third party if you use cryptocurrency. There can be rewards on this investment minus a hidden Coinbase fee of 25% commission.Why Coinbase fee is so high? ›
Coinbase is a US-based company and is subject to US Securities and Exchange Commission regulations, which are generally more stringent than those in other countries. This means that Coinbase has higher compliance costs, which are passed on to users in the form of higher fees .
Crypto-friendly Bank FAQs
To our knowledge, Revolut, Monzo, Xace, Cashaa, Orounda, Royal Bank of Scotland, NatWest, Nationwide, Barclays, Santander, Metro Bank and Halifax all allow payments to Coinbase.
To cash out your funds, you first need to sell your cryptocurrency for cash, then you can either transfer the funds to your bank or buy more crypto. There's no limit on the amount of crypto you can sell for cash.Is Coinbase in trouble? ›
As the SEC sees it, Coinbase is essentially running an illegal enterprise under existing securities laws. The SEC charged Coinbase with operating as an unregistered securities exchange, broker, and clearing agency, and took aim at the brokerage's “staking” service, which offers high yields on a few tokens.Who has better fees than Coinbase? ›
With Coinbase being an institutional platform, some alternatives to Coinbase in that regard are Bitstamp, Kraken, eToro, Gemini, and Binance. Kraken charges much lower fees than Coinbase and is more secure, hence much better than Coinbase.Who has lower fees than Coinbase? ›
Binance, the world's largest crypto exchange, charges less fees than Coinbase. Another one on the list is Bitstamp. It is best for beginner and advanced regular trading with low fees. Kraken crypto exchange is also a cheaper alternative to Coinbase and also offers advanced investment options.What is the cheapest way to buy Coinbase? ›
Coinbase - Cheapest Way to Buy Bitcoin for Beginners
Deposits are straightforward through ACH transfers, credit cards, wire transfers, and PayPal. ACH transfers are free, credit card payments cost 2.49% of the transaction value, and wire transfers cost $10.
Coinbase Debit Card Fees
The limit is $2,500 in transactions and $1,000 in ATM withdrawals. 2% fee when you use the card outside the United States. 2.49% cryptocurrency liquidation fee on every transaction for most currencies. USDC is fee-free, but all other supported cryptocurrencies carry the fee.
What is the Coinbase card limit? The Coinbase card is a debit card, not a credit card, and thus does not have a preset limit. The limit you will be able to spend up to will entirely be determined by your Coinbase balance, just like cash in a bank account with a traditional debit card.What is the difference between Coinbase card and crypto com card? ›
Pricing & Fees
Coinbase's Visa Debit Card has no monthly or annual fees. Additionally, there are no foreign transaction fees when using the Coinbase card abroad. The Crypto.com Visa, on the other hand, charges a $50 annual fee for the card. Additionally, users are charged a 3% for credit card top-ups.
However, you still need to report your earnings to the IRS even if you earned less than $600, the company says. The IRS can also see your cryptocurrency activity when it subpoenas virtual trading platforms, Chandrasekera says.
If you buy crypto, there's nothing to report until you sell. If you earned crypto through staking, a hard fork, an airdrop or via any method other than buying it, you'll likely need to report it, even if you haven't sold it.Do I have to report crypto on taxes if I lost money? ›
Cryptocurrencies such as Bitcoin are treated as property by the IRS, and they are subject to capital gains and losses rules. This means that when you realize losses after trading, selling, or otherwise disposing of your crypto, your losses offset your capital gains and up to $3,000 of personal income.Why did Coinbase charge me $30 dollars? ›
You are seeing a charge on your statement because someone connected your bank account on our website and used it to purchase bitcoin (a digital currency). If you don't recognize this charge, it's possible that someone has connected your bank account without your permission.What is the $0 limit on Coinbase? ›
Another reason your Coinbase debit card limit might be set to $0 is that your bank has not yet been added to the Coinbase system. To add your bank to Coinbase, you must first provide your routing number and account number. Until you do so, your Coinbase debit limit will remain at $0.What is the level 2 limit on Coinbase? ›
Now that the demand for bitcoin has increased exponentially, Coinbase will be reducing that limit to 1 bitcoin per day for level 2 accounts, and 0.1 bitcoins per day on level 1 accounts (accounts are measured by level depending on how much personal information has been supplied to verify one's identity).Can I deposit cash on my Coinbase card? ›
Select Add cash. Select your bank account. Enter the amount of cash you'd like to deposit. Select Continue then choose Add cash now.Is Coinbase FDIC insured? ›
Client funds are stored in omnibus FBO accounts and - similar to longstanding practices at banks - we maintain internal ledgers as an official record of how much cash each client holds. These records enable us to secure pass-through FDIC insurance for our customers (up to $250,000 per customer, per bank).How much does Coinbase charge for debit card? ›
Coinbase also charges a spread-based fee of 0.50%, while other fees depend more on which method of payment you're using — ACH transfers are free, whereas using a bank account or USD Wallet adds a 1.49% fee, using a credit or debit card adds a 3.99% fee and wire transfers rack up an extra fees of $10 incoming and $25 ...Can you overdraft your Coinbase card? ›
No overdraft/credit feature. Contact Coinbase Customer Service by calling 1-888-908-7930, by mail at 100 Pine Street, San Francisco, CA 94111, by email at email@example.com visiting https://help.coinbase.com/en/coinbase/trading-and-funding/other/coinbase-card-faq.html.What is the fastest way to cash out on Coinbase? ›
- Make sure you have a USD balance - you may need to sell crypto in order to get a USD balance.
- From your USD balance in your account, select Cash out.
- Select your linked bank account from the menu as the cash out option.
If you cannot complete the ID verification process, you will have to wait 72 hours for the send to initiate. Please contact us if you ever see any suspicious activity on your account.Does Coinbase have a 29.99 fee? ›
Coinbase One costs USD 29.99 a month, and the company plans to bring it to more countries in the coming months as part of an international expansion strategy. Frequent traders can benefit from this service by executing more trades on hundreds of assets without worrying about trading fees on every transaction.How much does Coinbase charge for credit card? ›
Credit transactions are charged a flat fee of 2% in total if you are borrowing USD from Coinbase or another affiliate of Coinbase. There is a 2.49% fee for Coinbase Wallet currency conversions. If you use your Coinbase card at an ATM, you may be charged operational fees.
Why Can't You Withdraw From Coinbase? As noted earlier, sometime you'll find the Cash Out feature grayed out. Coinbase disables Cash out availability for security reasons. You won't be able to use the feature to send money to your local currency.Why won t Coinbase let me cash out? ›
You can still buy, sell, and trade within Coinbase. However, you'll need to wait until any existing Coinbase account holds or restrictions have expired before you can cash out with your bank account. Withdrawal-based limit holds typically expire at 4 pm PST on the date listed.Why do I have a $100 limit on Coinbase? ›
Coinbase account limits are determined by an algorithm which takes a variety of factors into account, including but not limited to, account age, location, transaction history, payment method, and verification steps completed. Unfortunately this means that limits can sometimes go down for customers.How does Coinbase card make money? ›
How Coinbase Makes Money? Major Revenue Sources. Coinbase generates revenue via staking, transaction fees on the Coinbase debit card, spread when converting cryptocurrency to fiat currency, and spread on cryptocurrency trades conducted on its platform.How much does it cost to use Coinbase debit card? ›
Spending with the Coinbase Card has no transaction fees. Coinbase does include a spread in the price to buy or sell cryptocurrencies. This allows us to temporarily lock in a price for trade execution while you review the transaction details prior to submitting your transaction.Why is Coinbase charging $30? ›
You are seeing a charge on your statement because someone connected your bank account on our website and used it to purchase bitcoin (a digital currency). If you don't recognize this charge, it's possible that someone has connected your bank account without your permission.What is Coinbase card liquidation fee? ›
Coinbase also charges a number of fees, including a 2.49% cryptocurrency liquidation fee.
- Coinbase learning rewards. The easiest way to start generating crypto rewards on Coinbase is through Coinbase Earn. ...
- Stake some of your crypto. ...
- Turn your dollars into stablecoins. ...
- Lend some of your crypto with CeFi. ...
- Lend some of your crypto with DeFi apps.
They use the platform to buy, sell, secure, invest and spend their digital assets. But do people make money using Coinbase? The answer is that they do — and you can get started earning coins and tokens, even without any experience.Can you make a lot of money with Coinbase? ›
Yes, you can make money on Coinbase Earn by completing tasks and earning rewards. The amount of money you can make will depend on the task you complete and the reward you receive. Some tasks may only give a few dollars worth of rewards, while others may give hundreds or even thousands of dollars worth of rewards.Will Coinbase refund if scammed? ›
Does Coinbase Refund You If You're Scammed? No, Coinbase will not refund you if you're scammed. If you take part in the fraudulent activity that led to you getting scammed, Coinbase will not refund you. You need to do due diligence before sending your digital assets to anyone.Is it better to link bank account or debit card to Coinbase? ›
If you already have a credit card linked, your bank may charge additional fees for credit card purchases on Coinbase. We encourage affected customers to switch to a debit card or linked bank account instead.Does Coinbase ask for SSN? ›
Answer: It is easy to set up an account although you will need some information. Some information needed includes legal name, address, date of birth, SSN last digits, and plan for using Coinbase.How much does Coinbase charge for withdrawal? ›
There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network.