Last year Coinbase rolled out the Coinbase Debit Card which offers 4% back in crypto rewards. Unfortunately, you can’t see the specifics on how the card works until you’ve been accepted and with the waitlist you have to sign up for, that can take some time. Let’s break down how the cards works along with some important restrictions on how you can use it.
First off, the Coinbase Card is a prepaid debit card, which means you have to load funds onto it before you can use it. While Coinbase advertises that this allows you to spend you crypto at any store that accepts Visa, absolutely do not do this! While it’s true that you can spend the coins you have, first Coinbase has to convert those coins back into the US dollar and it’ll charge you a 2.49% transaction fee to do so. Instead of giving your money away, load your card with regular dollars or the USD coin because there is no transaction fee.
Additionally, it’s important to note that the card doesn’t give any ATM fee rebates like most other debit cards do. So if you make a cash withdrawal you’re going to have to eat the fees.
There are also several restrictions on how you can use the card itself.
• The maximum balance for the card is $9,999.99
• The maximum transfer to load the card is $5,000 per 24hour period
• You cannot withdraw more than $1,000 per 24hour period
• Your purchases are capped at $2,500 per purchase with a maximum of $5,000 spent per 24hour period
As for the 4% crypto rewards, you can select one of eight different cryptocurrencies to earn your awards. Four earn 4% back:
Stellar Lumens / The Graph / Amp / Rally
The other four only earn 1% back:
Bitcoin / Ethereum / Dogecoin / Dai
Since there is no fee to convert one cryptocurrency into another, choose one of the 4% reward options then convert into whatever crypto you want to be invested in.

0:00 The Coinbase Card
0:17 Coinbase Card Disclosure
0:52 Transaction Fees
2:51 Coinbase Card Restrictions
4:39 4% Rewards Explained
6:11 The Verdict

#coinbase #crypto #bitcoin

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DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are responsible for the financial decisions that you make.