Everything You Need to Know About the Coinbase Debit Card

Founded in 2012 by Brian Armstrong, Coinbase is the largest U.S.-based cryptocurrency exchange. With over 100 million users across 100+ countries, Coinbase is the world's biggest Bitcoin custodian with $295 billion in quarterly trading volume. The platform supports over 290 cryptocurrencies and more than 400 trading pairs across futures and spot markets. It also offers innovative solutions, such as the Coinbase debit card, which makes using the crypto holdings for daily transactions effortless.  

The Coinbase debit card was launched to bridge the gap between digital assets and everyday transactions, delivering real-world utility to millions of users.

Double your advantage on Bybit: 10% off trades + $30,000 up for grabs! Sign up now and claim these exclusive rewards. Offer expires soon!

In this blog, we will take a look at the Coinbase debit card, how you can acquire it, and more. 

Let’s begin!

Coinbase Debit Card

Coinbase offers a Visa prepaid debit card for everyday purchases, and users earn crypto rewards for every transaction. Available to users in the USA, the Coinbase Visa debit card supports eight cryptocurrencies and one fiat currency (USD). It supports the following cryptocurrencies:

• Bitcoin (BTC)
• Ethereum (ETH)
• Dogecoin (DOGE)
• Stellar (XLM)
• Dai (DAI)
• Amp (AMP)
• Algorand (ALGO)
• Rally (RLY)

The Coinbase debit card has no transaction fees and rewards users with crypto cashback opportunities. With a spending limit of up to $2,500 per day, users can borrow funds and repay the company. Thanks to the collaboration with Visa, the Coinbase debit card is accepted by 40 million vendors globally. Users can spend cryptocurrencies from their Coinbase accounts and withdraw fiat at ATMs. All transactions automatically convert to fiat currency through Visa’s payment network. Users can also link a bank account with their Coinbase account for cash withdrawals. 

Reward System

Coinbase rewards its users with crypto on every transaction. Making a payment with the Coinbase debit card (fiat or crypto) will earn the cardholders a percentage back in a pre-selected cryptocurrency. 

Traders can decide what cryptocurrency they would like to receive as part of this reward. They can choose between major cryptocurrencies such as Bitcoin and Ethereum, as well as altcoins such as Dogecoin, Dai, Algorand, or more. The reward rates for each cryptocurrency can vary, so users should keep an eye on their Coinbase card account for the latest reward percentages. 

Coinbase Debit Card Fees

The Coinbase debit card has the following fees and limits:

How to Apply for a Coinbase Debit Card?

Here is a step-by-step guide to apply for a Coinbase debit card. 

• Sign up or sign in to your Coinbase account. 

• Once you have logged in, click on the Individuals menu and select Card to access the application page. 

• Follow the onscreen prompt to complete the application process. 
• You will be asked to verify your address.
• You will need to choose a cryptocurrency for receiving your Coinbase debit card cashback. 

Once your application is approved, a virtual card will be issued to you immediately so you can start making payments. You will have to request a physical card through the Coinbase mobile app, verify your information, and set up a PIN. The Coinbase debit card takes 2 – 3 weeks to arrive. 

How to Add Money to a Coinbase Debit Card?

Before you can start using the Coinbase debit card, you will have to add funds to it first. You can only use the money you have added to your account, so make sure you have a sufficient balance in your card before you use it. 

Here is how you can add money to your Coinbase debit card. 

• Log in to your account, go to your account settings, and select Card from the menu.

• Click on the Add Cash option on the Card page. 
• Choose the amount you want to load onto your card. 
• Choose the payment method of your choice. You can select from Google Wallet, Apple Wallet, or bank transfer. 
• Click on Review Order to confirm the details. 
• Click on Place Order to complete the process. 

Security and User Protection

Security is a major concern when spending cryptocurrencies, and Coinbase addresses this with multiple layers of protection. The debit card includes standard Visa security features such as fraud monitoring and charge protection. Users can instantly freeze or unfreeze their card from the Coinbase application if it is lost or compromised. 

Additionally, Coinbase employs strong account security measures such as two-factor authentication and a security PIN. While no system is completely foolproof or risk-free, these safeguards make the Coinbase debit card a relatively secure option for day-to-day crypto spending. 

Final Takeaways

The Coinbase debit card combines the flexibility of cryptocurrency with the utility of a Visa debit card. It makes digital assets more usable, making sure cryptocurrencies are integrated into our daily lives. Plus, the rewards and usability make the Coinbase debit card a compelling option for crypto users who want to use their digital assets and not simply store them.

FAQs

Who is eligible for the Coinbase debit card?

At the moment, the Coinbase debit card is only available to customers living in the USA (excluding Hawaii).

Are there any fees for using?

There are no fees for spending USD or crypto using the Coinbase debit card.

Does the Coinbase debit card convert crypto automatically?

Yes, crypto is converted into USD instantly at the time of use.

Can I earn rewards with the Coinbase debit card?

Yes, eligible purchases can earn crypto cashback rewards.

Is the Coinbase debit card accepted worldwide?

The Coinbase debit card is accepted anywhere Visa is supported, which is 40 million vendors globally.

Can I use the Coinbase debit card for ATM withdrawals?

Yes, you can use your Coinbase debit card for ATM withdrawals.