Coinbase Visa® Debit Card

If you’re a crypto trader looking for a crypto debit card with top rewards and multiple cryptocurrencies, the Coinbase Visa Debit Card, issued by MetaBank, N.A., for contactless payments might just be right up your alley. Aside from getting cash back on every purchase, the card comes with no signup or annual fee. Many crypto traders consider this card one of the best options around. Additionally, you can use the card anywhere Visa is accepted and manage your account via a user-friendly, intuitive mobile app. If advanced security when converting crypto to fiat currency is high on your priority list, you should consider getting the Coinbase debit card.

The Coinbase Visa is the Best for

• People who often trade crypto and want to earn crypto rewards;
• Bank account owners who wish to spend their crypto safely;
• Cardholders who prefer debit cards to credit cards.

What Are Coinbase Visa Debit Card Advantages

Here’s our comprehensive list of advantages of using the Coinbase debit card.

• Shop around using your crypto. The Coinbase Visa is just like any other regular debit card with one significant difference – in addition to traditional usage, you can also use your card to shop around, spending your crypto instead of regular money. The card comes with a linked account where you can keep your crypto. Unlike other similar services, the Coinbase crypto debit card doesn’t require you to convert your crypto to traditional currency to spend it – the company automatically liquidates your means for you. (Read: Why Do You Need a Cryptocurrency Account?)
• Rotating rewards categories. What makes this card so impressive is that you can choose your preferred rewards at the signup. There are two categories of rewards: Cash back in Stellar Lumens¹; Cash back in Bitcoin. If you find one category better than the other, you can shift between them however you wish, without any penalty or additional charges. Let’s look at some of the most significant advantages of applying for the Coinbase Visa debit card.
• Almost no fees at all. Aside from no annual fee, the Coinbase crypto debit card doesn’t come with the typical fee structure. In other words, there are no card issuance and signup fees. However, there’s a transaction fee for ATM withdrawals and purchases to keep in mind.
• Multiple crypto support. Another thing that makes Coinbase stand out is the range of cryptocurrencies you can add to your Coinbase wallet. The crypto selection includes Bitcoin, Ethereum, Stellar Lumens, Bitcoin Cash, Ripple, Litecoin, Dogecoin, and Dai. Although this range is impressive, crypto rewards are only available in Stellar Lumens and bitcoin.
• Robust security. Coinbase makes a great effort to ensure maximum safety for your digital assets and crypto transactions. You can instantly freeze your card if need be, and a two-step verification adds a layer of security for every transaction you make.
• Fantastic rewards. Every time you make a purchase using the Coinbase Visa, you earn rewards, such as cashback in cryptocurrencies (XLM and BTC) and other crypto-related rewards you can claim once a transaction is complete. In addition, you can choose a preferred reward category as well as toggle between available rewards.
• Contactless payments. You can use the Coinbase crypto card anywhere Visa is accepted. The only condition is that the store has near-field communication (NFC) terminal enabled.
• Mobile app. Thanks to the Coinbase intuitive and modern mobile app, you can manage your account, track your card usage, and optimize your spending on the go. Keep a record of your balance and transactions, monitor your spending habits, shift between rewards, and personalize card settings using a mobile device of your preference. However, that’s not all – it gets even better! The app further allows you to choose the cryptocurrency you feel like spending at the moment, and there’s an unintrusive notification system to keep you up-to-date with the latest information.
• Multiple ways to contact customer service. Coinbase provides several options for getting in touch with customer service. You can contact customer support via the mobile app, email, or phone. If there’s a reason to disable your account, you can do it remotely through the automated phone service. Moreover, there’s also a help center with frequently asked questions where you can find out everything you need to know.

Are There Any Disadvantages?

Yes. While the Coinbase debit card offers quite a few benefits, there are also some downsides you should be aware of.

No real rewards. Even though the Coinbase Visa offers crypto rewards, there are no real benefits and rewards that come with the average credit card. While the card allows you to earn some cash back rewards, they come in crypto only.

You have to choose the rewards program. Since the Coinbase rewards program is technical, customers must choose the program once they complete the account setup.

Slow rollout. Some customers have to wait up to four months for their card to arrive, while some may receive it within a few days.

High crypto liquidation fee. Another downside of the Coinbase debit card is a rather hefty fee for cryptocurrency liquidation. Each time you make a purchase with crypto, you’ll incur a high transaction fee.

No P2P payment option. The Coinbase Visa debit card supports digital wallets such as Google Pay and Apple Pay. However, if you’re looking for a crypto debit card that works with peer-to-peer services such as Cash App, Venmo, and PayPal, you’ll need an alternative.

The card isn’t available outside of Europe and UK. Even though Coinbase stands for one of the most trustworthy crypto brands, the company’s crypto debit Visa is only available in Europe and the UK at the moment. The officials stated that they’re making efforts to expand the network in the time to come.

What Makes Coinbase Visa Debit Card Different

1. The Coinbase Visa debit card is an excellent option for active crypto traders who need a crypto debit card with rewards for everyday purchases.
2. Since it has no fees other than a liquidation fee, the card is perfect for crypto traders looking to earn more crypto.
3. If you use Coinbase regularly, this card is for you. As long as you make purchases in USDC, there are no additional charges to worry about.

Coinbase Visa Competition and Alternatives

• Upgrade Bitcoin Rewards Visa – $200 bonus, no annual fee, no foreign transaction fee, and unlimited 1.5% crypto rewards on all purchases
• BlockFi Bitcoin Rewards Visa – no annual fee, unlimited rewards for all purchases, and bonus rewards rate for 3 months
• Gemini World Mastercard – no foreign transaction fee and up to 3% crypto rewards on all card purchases
• Wirex Mastercard Debit Card – offers multi-currency account and up to 1.5% rewards
• Quontic Bitcoin Debit – comes with free FDIC insured Bitcoin checking and unlimited 1.5% rewards
• Sofi Money World Debit Mastercard – get up to a $325 cash bonus and no fees online banking account

Bottom Line

The Coinbase card is a popular debit card option for Coinbase users and crypto traders. It has almost no fees, allows you to choose rewards, and supports multiple cryptocurrencies. If you don’t really like credit cards, this card might be for you. Aside from robust security, the card offers access to generous rewards, contactless payments, and responsive customer service.

Frequently Asked Questions

Resources

¹ Stellar (XLM): What You Need To Know Before Investing. GoBankingRates, 2022