Coinbase Debit Card Review

Coinbase Debit Card Ratings at a Glance

Coinbase, the largest U.S.-based cryptocurrency exchange, offers a debit card that enables users to spend crypto and earn rewards on their purchases. Among the first of its kind, this unique debit card lets you spend your crypto coins like cash without any of the hassle that usually comes with doing that. 

Find out more about what the card offers in this Coinbase debit card review.

With Coinbase Card, users can enjoy a debit card that makes your crypto account as spendable as your bank account. It’s a Visa debit card linked to your Coinbase balance, so you can use the cryptocurrency in that account anywhere a Visa card is accepted. The card automatically converts the crypto to U.S. dollars for each transaction, whether that’s paying for dinner or pulling cash from an ATM.

In addition to being able to spend your crypto balance like traditional currency, the Coinbase debit card offers a range of features including:

• A mobile app to track your balance and spending
• Top-notch security via 2-step verification, instant card freeze, pin change and other features that keep your crypto balance safe
• Earn crypto rewards on every purchase.
• Contactless payments

For the rewards, you will be asked to choose your preferred reward option when you open your account. Card users in the United States have the option to choose from a list of rotating crypto rewards for every purchase made with the card. Depending on which crypto you choose to earn your rewards in, you’ll be rewarded at the following rates:

• 4% back in Stellar Lumens (XLM)
• 4% back in The Graph (GRT)
• 1% back in Bitcoin (BTC)
• 1% back in Ethereum (ETH)
• 1% back in Dogecoin (DOGE)
• 1% back in Dai (DAI)

Once you set your preferred reward offer, it will be applied to every purchase you make. This is regardless of which cryptocurrency wallet you’re using. The reward hits your account as soon as the transaction processes. This can take anywhere from 1 to 5 days. 

The Coinbase card has no annual fee and no foreign transaction fees. However, if you choose to pay with cryptocurrency, a 2.49% transaction fee applies. This fee is for converting the crypto amount to dollars for your transaction.

You can avoid this fee by using USDC as your payment method. If you have a USDC balance, there will be no transaction fee when using this asset.

While Coinbase does not impose direct transaction fees, it is important to note that ATM operators may apply different surcharges. Customers should be aware of these potential additional costs when using ATMs.

While this is not the only crypto debit card on the market, it’s one of the few that allows you to spend your crypto without keeping a fiat currency balance in your account. A fiat currency is a government-issued currency, like the U.S. dollar. Many crypto cards require its users to keep a cash balance of an accepted fiat currency. Coinbase has no such requirement. 

The mobile app gives you the convenience and on-the-go control over your account that the best banking apps provide. From the Coinbase mobile app, you not only have the ability to monitor your spending and check your balance.

You can also instantly switch between crypto wallets so that your transactions are funded by whichever coin you choose. The user-friendly app can also send you instant notifications, generate smart receipts and connect you with the Coinbase support team.

Most importantly, card holders can manage their card settings right from their phone. Whether you need to temporarily lock your card, place an immediate freeze on your card or order a replacement for a lost or stolen card, you can do all of that directly through the mobile app.

Coinbase is a highly secure platform for trading cryptocurrencies, publicly traded on the NASDAQ and compliant with the regulations of the Securities and Exchange Commission (SEC). It stores most user funds in a cryptocurrency hardware wallet to protect them from online seizures and a dedicated wallet app for added security.

Is Coinbase a safe debit card? Yes, Coinbase Card is generally considered safe for users, as it operates under the same security standards as traditional banking systems. It employs robust security measures, including two-factor authentication and biometric login options, to protect accounts from unauthorized access. Additionally, users benefit from a zero-liability policy for unauthorized transactions, providing further peace of mind.

You can contact Coinbase’s customer service by various channels, including phone, email, live chat, social media assistance and a ticketing system. For the fastest support, you should use either email or the messaging center inside the mobile app. 

The company currently doesn’t have any live customer service representatives operating its phone line. The automated phone support does offer some basic services like disabling or re-enabling your account but anything more involved in than that will need to be done via other support channels. 

While that might feel like an inconvenience to some, the company is usually good about responding promptly to email support requests.

Coinbase Card vs. Competitors

While Coinbase offers a strong contender with a user-friendly interface and competitive offerings, other players also provide enticing alternatives that could better suit your lifestyle. Each card has its unique advantages and may appeal to different user needs based on their crypto activity. Take a look at how Coinbase Card stack up against its competitors.

• The Coinbase Card and Nexo Card serve different purposes in the cryptocurrency market. The Coinbase Card enables users to spend their cryptocurrency directly, converting it to fiat at the point of sale. It offers rewards in cryptocurrency for purchases. In contrast, the Nexo Card provides users with a credit line backed by their crypto assets. Users can withdraw cash or make purchases without selling their holdings.
• When comparing the Coinbase Card and the Crypto.com Card, there are several factors to consider. Both cards allow users to spend cryptocurrency in everyday transactions. The Coinbase Card offers features like cash back rewards and easy integration with the Coinbase platform. Meanwhile, the Crypto.com Card provides a tiered reward system and benefits like free Spotify and Netflix subscriptions for higher tiers.

The Coinbase Card takes the lead over its competitors when it comes to ease of use and security. It’s one of the few that allows you to switch between crypto wallets as needed and provides some of the strongest security features, all right from its mobile app. Cardholders also enjoy lower fees and the ability to use their Visa debit card worldwide. While it doesn’t support the widest range of coins, the altcoins it does support puts it ahead of many of its competitors' more limited offerings.