Coinbase Is Bringing Its Crypto Debit Card to the US Market, Offers Cashback in Bitcoin or Stellar

Key highlights:

• The Coinbase Card is coming to the United States market
• Previously, the card was only available to Coinbase's European users
• US users will be able to enjoy 1% cashback in BTC or 4% cashback in XLM

Coinbase is expanding its crypto debit card to the US, users will benefit from cashback in BTC or XLM

Major cryptocurrency exchange Coinbase is expanding its debit card to the United States market, after previously being limited to the exchange’s European users. The card, which uses the Visa payments network, allows users to spend the crypto balances on their Coinbase accounts. Just like with other crypto cards, the crypto funds held in the user’s account are converted to fiat currency and then sent to the merchant. 

Even though they are getting acces to the Coinbase Card later, United States customers will actually enjoy an additional benefit compared to their European counterparts. US users can choose to receive 1% cashback in Bitcoin or 4% cashback in Stellar Lumens when spending with their Coinbase Card. In the US, the Coinbase Card will have a daily spending limit of $2,500. 

Even though the card will offer a cashback bonus, users should keep in mind that Coinbase charges a 2.49% cryptocurrency conversion fee on every purchase made with the card. Users who want to avoid this conversion fee can choose to spend the USDC stablecoin from their Coinbase accounts. 

Coinbase hasn’t provided a firm launch date for when its crypto card will start shipping to the United States market, but US customers who are interested can currently join a waitlist. According to the exchange, the first US customers will be approved »this winter. The card will be available to customers in all US states, except for Hawaii. 

The Coinbase Card doesn’t support all of the assets available on Coinbase, but it does support a host of different coins – Bitcoin, Ethereum, Litecoin, Bitcoin Cash, XRP, Basic Attention Token, Augur, 0x and Stellar. 

In the United States, the Coinbase Card will be going up against crypto cards offered by Crypto.com, BitPay and other competitors. Notably, Coinbase Card will be hitting the US market before Binance’s Binance Card.