Key takeaways
- Coinbase Card was launched in 2019 and refreshed in 2022 with fewer fees and rotating rewards.
- US residents in all states but Hawaii can join the card's waitlist on the Coinbase site.
- Use the card like any other Visa, and Coinbase converts the cryptocurrency in your linked Coinbase account to fiat currency.
- But read the fine print to understand "other fees" and limitations tied to your Coinbase account.
Coinbase is an online exchange platform for buying and selling cryptocurrency, and it’s been a mainstay within the ever-changing crypto landscape since its founding.
In 2019, Coinbase launched the Visa debit card Coinbase Card in the United Kingdom and the European Union. Today, it’s available to Coinbase customers in all US states but Hawaii with no application fee or credit check. You can join the card’s waitlist on Coinbase’s site.
What is Coinbase?
Founded in 2012, Coinbase is a cryptocurrency exchange that allows the crypto curious and veterans alike to buy, sell and manage popular cryptocurrencies like Bitcoin, Ethereum and Dogecoin, as well as more than 150 other crypto assets. You link a bank account or debit card to your account, and then buy the crypto assets you’re interested in through the site or an app.
Although Coinbase’s Visa debit card initiative is exciting, crypto credit cards aren’t a new idea for this exchange. The Coinbase Shift Card was previously available in 43 states until it was retired in April 2019. Coinbase refreshed its Coinbase Card in 2022, introducing rotating rewards and eliminating most transaction fees.
How does Coinbase Card work?
Coinbase Card is a debit card that’s connected to your digital Coinbase account, allowing you to tap into your cryptocurrency wherever Visa is accepted. When you make a purchase with the card, Coinbase converts the cryptocurrency in your wallet to fiat currency — U.S. dollars or the currency of the country you’re using it in. You can also withdraw cryptocurrency in the form of cash at ATMs worldwide.
Fees and rewards
Issued by MetaBank, Coinbase Card comes with no annual fee and a simple crypto rewards program that allows you to earn cash back on your purchases (though not on ATM withdrawals). Rewards offers vary from 1 percent to 4 percent depending on your choice of crypto and a rotating rewards structure that you can stay on top of through your Coinbase account.
Coinbase eliminated most transaction fees in 2022 as part of an effort to remove barriers to the card’s use, though note that its fine print advises “other fees may be associated with the card.”
Spending limits
Your spending limit largely depends on the funds available in the account that’s attached to your card. To see your spending limit, log in to your Coinbase account and navigate to View spending and ATM limits.
Redditors in the r/CoinBase community have reported their limit as high as $2,500 a day with a maximum $2,000 daily limit at ATMs as of 2023.
Where can I use my Coinbase Card?
You can use your Coinbase Card at most retailers and ATMs that accept Visa with a few specific exceptions that include casinos, money services businesses and marijuana-related businesses.
How to apply for Coinbase Card
Eligible customers can sign up for the Coinbase Card waitlist through the Coinbase app or website.
To be eligible for the card, you must live in the U.S., complete ID verification steps and agree to the Coinbase Card legal agreement. After approval, you can use your digital Coinbase Card instantly through your account, and you’ll receive a physical Coinbase Card in the mail within 10 business days.
To use Coinbase Card through Apple Pay or Google Pay, you must create a PIN through the Coinbase app or by calling Coinbase Support.
How to use the Coinbase Card app
The Coinbase Card app is for far more than checking in on your crypto account balance. Use the app to check in on your crypto balance, monitor rewards, change your default crypto, select rotating bonus categories and even make purchases and withdraw money at ATMs with your virtual Coinbase Card.
Note that while Coinbase does not charge transaction fees, a spread applies when you buy, sell or trade crypto on the site or through the app.
The bottom line
The Coinbase Card is a debit card that offers a convenient way to shop at retailers and online stores with cryptocurrency or make withdrawals at ATMs. Link your card to your Coinbase account to earn up to 4 percent back, depending on your choice of crypto and rotating rewards categories, with no annual fee or transaction fees.
But you can only use it if you’re a Coinbase customer with a crypto balance in the account attached to your card. And it’s not without all fees, so carefully read the fine print to learn what you can expect.
