The Coinbase debit card will be coming to the United States. It is likely similar to the card that is being issued by Coinbase in the UK and Europe now, though with compliance to US laws.
Coinbase Debit Card in America
Starting today, Coinbase customers are able to join a waitlist in order to access the card. No news has released yet on when the card is going to launch.
Coinbase Card is available to all American clients, except Hawaiian citizens. Coinbase Card began last April in the United Kingdom and last June extended to Europe.
There is no fee for using Coinbase’s dollar-stocked USDC, which it operates along with Circle, on the Coinbase debit card. The card charges a 2.49 percent processing fee for all other cryptocurrencies. Conversion costs for cryptocurrencies may also occur
Features of the Coinbase Debit Card
Specific features of the debit card, according to Coinbase, include:
Spend crypto everywhere Visa debit cards are accepted, worldwide: Coinbase Card holders can spend directly from their Coinbase accounts without having to move funds to their bank accounts. Cryptocurrency is converted to US dollars prior to completing purchases and ATM withdrawals².
Earn up to 4% back in crypto rewards: Earn rewards using cryptocurrency through daily spending. At launch, customers can opt to earn 4% back in Stellar Lumens (XLM) or 1% back in Bitcoin (BTC).
Seamless card management: Manage spending and rewards preferences directly through the Coinbase app³. Customers can opt to spend stablecoins like USD Coin or other specific cryptocurrencies with the touch of a button.
The Coinbase Card facilitates the crypto deposits of the Coinbase account of consumers, enabling them to pay in-store and digitally using BTC , ETH, LTC, and more. In millions of places around the world, consumers can use their wallet, make payments by contactless transactions, chip and PIN, as well as cash withdrawals from ATMs.
Customers can immediately convert crypto to fiat when they pay with a Coinbase debit card. The card is linked to Google Pay and Apple Pay, allowing users to seamlessly connect their phones to the Coinbase card
The Basics of the Coinbase Card
Coinbase Card supports all crypto assets available on the Coinbase network for purchase and sale, ensuring they can pay for a BTC meal or use ETH to finance their train ticket. The app also provides instant receipts, summaries of purchases, types of spending, and more.
The Coinbase debit card comes in a sleek design that allows it to be used across a variety of vendors. It features contactless payments along with chip/PIN payments. It has integrated Google Pay and Apple Pay, allowing users to pay using their smartphones, smartwatches, and other devices used with Google Pay and Apple Pay.
The Coinbase Card app also helps customers control their purchases, allowing customers to pick which of their crypto wallets they can use to finance their Coinbase Card spending.
Customers of Coinbase can download and securely connect their Coinbase account to the iOS and Android app.
The crypto balance kept on Coinbase will be instantly accessible for use via the virtual card once connected and a contactless Coinbase card will be sent in the mail.
This is the first debit card to be explicitly linked to top cryptocurrency exchange, enabling users to directly spend their crypto balances from their Coinbase account.
As noted in our Top 5 Crypto Debit Cards article, Coinbase faces some stiff competition in the field. Crypto.com operates a crypto debit card in the US, with Wirex soon to be releasing its own card.
