US customers can now use cryptocurrency for payments, online and in-store purchases, ATM cash withdrawals with Coinbase Card, Coinbase cryto Visa debit card. The customers also stand a chance to earn up to 4% back in crypto rewards with the card. At launch, customers can opt to earn 4% back in Stellar Lumens (XLM) or 1% back in Bitcoin (BTC).
Previously, the card was only available in nearly 30 countries, including the UK and across Europe. However the rewards program will initially only be available to customers in the US.
Customers spend from their Coinbase account and are automatically converted to US dollars before payments.
Related story: PayPal launches new service enabling customers buy, hold and sell cryptocurrency
There is no issuance fee for the card and spending doesn’t incur fees. Hpwever cryptocurrency conversion fees may apply. The card is issued by MetaBank a member of FDIC and powered by Marqueta. It will be available to all eligible customers in the US, excluding Hawaii. By the way, cusomers must also have a verified Coinbase account.
Customers in the US can join the Coinbase Card waitlist here and you can learn more about eligibility in the US and around the world here.
