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Coinbase Visa Card Review
Looking for an in-depth Coinbase Visa card review? Coinbase is one of the most well-respected and trusted brands in the entire crypto economy, so it’s a no-brainer that their crypto debit card has a lot to offer. We’ll cover all of the pros, cons, and features you’ll need to know about this card, and why it may just be a great fit for your needs.
- Visa card backed by one of the most reliable companies in cryptocurrency
- Links to your Coinbase account
- Spend your crypto anywhere Visa is accepted
- Switch between cryptocurrencies on the fly
Pros & Cons
Pros
Coinbase has never faced any major security incidents that led to loss of user funds
Supports all of the major cryptocurrencies
Connects directly with your Coinbase account
Can be used at basically all merchants and ATMs around the world
Cons
Fees are a bit high for converting crypto to fiat currency to be used on the card
Not available in all jurisdictions
No extra perks like free Netflix or reduced trading fees
What is the Coinbase Visa Card?
Before we dive into the Coinbase Visa card review, it might help to know what it actually is first.
The card is basically an additional feature tacked onto Coinbase, rather than a standalone product, so you’ll need to be a Coinbase member first before you can use the actual card.
Coinbase is one of the largest custodians of crypto assets on the market, so it’s smart of them to enable their users to spend the value of their crypto holdings while doing their everyday shopping. There are more than 20 digital assets that can be held in a Coinbase account, but it should be noted that only nine crypto assets are supported with the actual Coinbase Visa card.
What are the Benefits of the Coinbase Visa Card?
The Coinbase Visa card is relatively simple compared to some competitors. It offers the ability to spend your cryptocurrencies and earn cashback rewards up to 4% in a rotating group of cryptos. There is no monthly or annual fee.
Some competitors come with strings attached, such as Crypto.com’s 8% cashback rewards and additional incentives. With the Coinbase Visa card, you know you’re working with a reputable company and you don’t have to worry about staking some proprietary token and potentially losing a lot of money with that forced price speculation.
Another benefit of the card is that you can withdraw cash from an ATM without having to pay any Coinbase fees (though the ATM operator may charge fees of their own). You can also choose which cryptocurrency in your Coinbase account should be used as the source of value for payments made with the Coinbase crypto debit card.
Potential Coinbase Visa Card Dealbreakers
The lack of any substantial rewards with the card is a strike against it for some cryptocurrency enthusiasts. With so many credit cards available with numerous types of benefits, it’s hard to choose one that doesn’t have a robust reward program.
One way around this is, instead of using the Coinbase Visa card, you could simply hold your cryptocurrency separately. You could then use a traditional credit card and simply sell some Bitcoin, Ether, or other cryptocurrency every month to pay off your credit card bill.
Is the Coinbase Visa Card Right for You?
So what is the verdict of our Coinbase Visa card review? If your main goal is to simply be able to spend your cryptocurrency via a debit card, then Coinbase is one of the most suitable options available. There is no proprietary token to worry about and the card currently supports spending from nine of the most popular cryptocurrencies on the market.
While not as advanced as many credit cards, in terms of rewards, the Coinbase Visa card does have a simple cryptoback rewards program where you can earn anything from 1% to 4% in a variety of different cryptos including Stellar Lumens, Bitcoin or Ethereum.
Coinbase is one of the most reputable brands in the cryptocurrency space, and that means a lot in the sometimes uncertain crypto market. That said, the card is currently only available in various European countries, so customers in the United States are out of luck for now.
Coinbase Visa Card Frequently Asked Questions
If you tried to use your Coinbase Visa card and the charge was declined, there are a few different issues that could have occurred. First, you’ll want to make sure that your card has been activated. Once you’ve confirmed this, check your Coinbase account to make sure you have funds available.
Next, check to make sure that you have funds available in the specific cryptocurrency that you have chosen as the wallet to fund your card’s spending. One last thing you can check is that you haven’t reached your spending limit for the month. If none of these issues seem to be causing the problem, then contact Coinbase Support.
There are a number of different fees to consider. First, there is a 4.95 € fee just to get the card shipped to you in the first place. There is also a 1% fee attached to cash withdrawals from ATMs, but the first 200 € withdrawn each month does not have any fees attached to it. However, it should be remembered that ATM service providers often charge fees of their own.
While there are no additional fees on purchases made domestically, international purchases carry a 3% fee.
If you ever need your card to be replaced, then you’ll need to pay another 4.95 €.
No, you will need to have a verified Coinbase account in order to use the Coinbase Visa debit card. If you’re having trouble with the verification process, then you’ll need to contact customer support.
Yes the Coinbase Visa card is available in every US state with the exception of Hawaii.
