Coinbase Inc. the Nasdaq listed crypto exchange today announced that it would open Coinbase card services for selected customers out of the waiting list who can enjoy up to 4% crypto rewards on their transaction.
COINBASE GLOBAL -STARTING THIS WEEK, WE'LL INVITE SELECT CUSTOMERS OFF THE WAITLIST FOR COINBASE CARD TO BEGIN EARNING UP TO 4% BACK IN CRYPTO REWARDS$COIN
— *Walter Bloomberg (@DeItaone) June 1, 2021
The Coinbase card is a VISA-powered debit card service that offers crypto rewards instead of traditional cash-backs. The debit card allows holders to spend their cryptocurrency at any vendor where Visa cards are accepted. While numerous debit card services offer crypto spending options, the crypto exchange-powered card allows direct spending from the user’s Coinbase account. The card supports a total of 30 cryptocurrencies and allows users to earn up to 1% in Bitcoin or 4% in Stellar Lumens.
The Fold Bitcoin reward app was the first to launch a Bitcoin and crypto reward service with similar offerings, allowing users to earn crypto rewards on their expenditure. Fold currently offers its services for debit card users but plans to expand the Bitcoin reward network to credit card users as well.
Coinbase adds Apple Pay and Google Pay Support
Apart from opening its Coinbase card services for selected customers, the crypto exchange also announced Apple Pay and Google Pay support, which would allow users to send direct money to their Coinbase account. The addition of popular payment services would open the gates for easy payments as there are more than a billion iPhone users.
It’s so easy! 💁♀️💳
Starting today, you can use your Coinbase Card with Apple Pay® and Google Pay™ to maximize rewards and use crypto in your everyday life.
Details here ↓https://t.co/iE0PYLUKlP
— Coinbase (@coinbase) June 1, 2021
Coinbase went public in April this year via a direct listing on Nasdaq with one of the highest valuations at public listing. The public listing was seen as a major step forward for the crypto space as it would offer major exposure to mainstream investors. Coinbase also recorded a phenomenal first quarter with nearly a billion-dollar in profits and over 50 million registered customers.