Coinbase’s crypto rewards are coming to users via Apple, Google payment apps
Coinbase will begin rolling out its crypto debit card to "select customers" in the U.S. starting this week.
Major U.S. cryptocurrency exchange Coinbase announced today that users of its crypto debit card, also known as Coinbase Card, can now make payments with it via Apple Pay and Google Pay apps on their phones.
“You can now use your Coinbase Card with Apple Pay and Google Pay to make it even easier to spend crypto at home and on the go,” said the exchange’s blog, adding that U.S. users will also be able “to earn up to 4% in crypto rewards.”
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
While Coinbase Card was already available in the U.K. and Europe, U.S. residents could only register on a waitlist for the offering up until now—but this is about to change. Starting this week, the exchange will begin inviting “select customers” in the U.S. who will finally receive their cards.
Coinbase users, rejoice!
After receiving an email invitation and completing a quick application, Coinbase Card holders will be able to start using it via Apple Pay and Google Pay apps immediately, without having to wait for their physical cards to arrive.
“Plus, Apple Pay and Google Pay use tokenization to keep your card information safe and enable secure purchases,” the exchange explained.
To make payments, Coinbase Card will draw and convert Bitcoin and other cryptocurrencies from users’ balances. However, the exchange will charge a 2.75% fee for every crypto debit card transaction—except the ones made using USDC stablecoin.
At the same time, U.S. users will be able to receive crypto rewards for their purchases—1% in Bitcoin or 4% in Stellar Lumens—which could help offset these fees. Coinbase Card owners from the U.K. and Europe, however, currently can’t enjoy these benefits, making crypto payments a bit less attractive in those territories.
“This is just the beginning—we’ll continue to build more ways for you to maximize crypto rewards and easily use crypto in your everyday life,” Coinbase concluded.