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    Home » Crypto News » Coinbase Launches A Crypto Debit Card With 1% Reward on Bitcoin Spendings

    Coinbase Launches A Crypto Debit Card With 1% Reward on Bitcoin Spendings

    Author: Jordan Lyanchev

    Last Updated Oct 28, 2020 @ 16:59

    US-based customers will be able to enjoy up to 4% rewards while spending their digital assets with Coinbase’s new Visa debit card dubbed Coinbase Card. Bitcoin spendings get a 1% cashback.

    • The largest US-based cryptocurrency exchange Coinbase announced today the launch of a Visa debit card, allowing customers to spend digital assets for everyday purchases.
    • According to the official statement, the Coinbase Card will provide clients the opportunity to earn up to 4% back in cryptocurrency rewards.
    • It will be available in nearly 30 countries, including the US, the UK, and across Europe. It will be connected to customers’ Coinbase accounts, and they can spend the funds without having to move funds to their bank accounts. 
    • The designated cryptocurrency asset spent by users will be automatically converted to US dollars prior to completing the purchase or the ATM withdrawal. 
    • The rewards will be available for US-based customers only initially and will depend on the cryptocurrency used. For instance, customers can get 1% back if they spend bitcoins and 4% back if they choose Stellar Lumens (XLM). 
    • The Coinbase app will serve as a fund manager. All spendings, reward details, and preferences will be manageable through the app. 
    • US customers can start applying to receive the card through the exchange’s app or the website. The first approved clients will be announced “this winter,” and they can start spending with a virtual card. The physical one will be delivered within two weeks. 
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    Tags: Bitcoin Coinbase Stellar United States
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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