Coinbase Follows Gemini with Bitcoin Rewards Card – A New Frontier for Web3?

Coinbase has launched the Coinbase One Card with 4% Bitcoin rewards, following a similar move by Winklevoss-led Gemini.

Published by

June 13, 2025

New Product Coinbase Follows Gemini with Bitcoin Rewards Card – A New Frontier for Web3?

Coinbase Card:- In an exclusive partnership with American Express, crypto exchange Coinbase has announced the launch of its Bitcoin rewards card—called the Coinbase One Card.

The card offers 4% back in Bitcoin on eligible purchases. Interestingly, the launch aligns with a broader trend currently being pushed aggressively by rival exchange Gemini. The Winklevoss-led platform has been promoting its Gemini Bitcoin Card with high-profile campaigns, including a Tesla Cybertruck giveaway, to boost adoption.

Both initiatives by these leading exchanges signal a fierce race to make crypto “go plastic”, bringing digital assets into everyday consumer spending.

Introducing the Coinbase One Card.
Earn up to 4% bitcoin back on every purchase.

Powered by @AmericanExpress network.
Coming fall 2025. pic.twitter.com/XfGXIGuj42

— Coinbase 🛡️ (@coinbase) June 12, 2025

The Coinbase Bitcoin Rewards Card

Coinbase’s new card, powered by Visa, offers users up to 4% back in Bitcoin on everyday purchases. According to the official announcement, these purchases include retail, travel, dining, and entertainment expenses. The card works much like a traditional credit card. But rather than cashback in fiat, users earn Bitcoin, deposited directly into their Coinbase wallets.

Besides the BTC awards, the card is also promising USDC awards at 4.5% APY, staking awards on Ethereum and Solana, complemented with transaction credits on Base. However, the card charges an annual membership fees with initial availability restricted only to the United States.

Catching Up with Gemini

Coinbase’s move follows Gemini’s successful launch of its Bitcoin rewards credit card, which debuted in 2022 and recently launched its revamped version. Gemini’s Bitcoin card is issued in partnership with Mastercard, offering up to 3% back in Bitcoin and boasts real-time rewards. This has turn out to be the incentive that has helped it gain early user loyalty.

The two companies, both regulated U.S.-based crypto exchanges, now appear to be racing to dominate this new payment layer in Web3. While Gemini focused on Bitcoin-based rewards only, Coinbase’s is diversifying to staking and USDC awards too. This can potentially be appealing to a broader swath of users who prefer to earn in diversified crypto assets.

Orange is eating the world. The number of orange Gemini Credit Cards 💳 is flippening silver, rose gold, and black combined! pic.twitter.com/ZRQ7PBqJrf

— Cameron Winklevoss (@cameron) June 12, 2025

Boost for crypto adoption?

For many users, these Coinbase and Gemini cards may represent their first real exposure to Bitcoin or digital assets. Each swipe becomes a subtle onboarding mechanism, bypassing the complexity of wallets, gas fees, and seed phrases.

As the lines between traditional finance and crypto continue to blur, Bitcoin rewards cards may be the first real Web3 product with mass consumer appeal.

They offer immediate value, daily utility, and an entry point to the broader crypto economy. This is all without the learning curve that still plagues many decentralized applications.

Whether this model proves sticky enough to drive long-term adoption remains to be seen. But one thing is clear: Bitcoin rewards may be the new loyalty currency of Web3, with the leading exchanges coming up with their own card launches to lead.

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About Author

With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Brandtalk section, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.