Coinbase card review

Coinbase Card Review

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Verdict: The Coinbase card offers a lot of conveniences, but the fees are too high for any serious crypto enthusiast. With cards available in 2021 that pay cashback as high as 8%, and perks totalling hundreds of dollars a month, the Coinbase card seriously lags behind the competition.
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5.5/10 (Expert Score)
Product is rated as #41 in category Crypto Cards

Founded in 2012 in San Fransisco, 9 years later Coinbase has 1,200 employees, 43 million verified users and handles $90 billion+ in assets of which 98% is held in cold storage. Coinbase has a solid track record as one of the most reputable Cryptocurrency exchanges and have the highest popularity amongst novice traders. Currently, Coinbase Visa debit card is an instant settlement card which makes for convenient, seamless spending of 9 top crypto assets without the need for staking. The card is available throughout most of Europe and the US, and we think is most convenient for beginners and crypto users who prefer to keep their funds on Coinbase.

However, for what you gain in convenience, you will seriously lose out on fees. A typical onboarding process would look like this: £/€4.95 issuance fee, plus 2.49% crypto liquidation fee on every POS payment plus *another* 3% for any foreign transactions. If you're withdrawing cash there will be 1% ATM withdrawal fees on anything over £/€ 200 per month. These drawbacks are amplified by the fact that there are no perks like Spotify or Amazon Prime rebates, and no cashback on purchases (some crypto cards pay 8% cashback in BTC). This makes the Coinbase card seriously lacking when compared to other cards on the market in 2021. We recommend comparing the Coinbase card to others on this website as there are much better options available.

Features
7.5
Usability
9
Payment options
8
Fees and charges
2.5
Perks & rewards
2
Company & Reputation
7.5
Support
3.5
PROS:
  • Newbie friendly.
  • Instant settlement from crypto to fiat on purchases.
  • Cold storage with one of the most reputable custodians.
  • Online funds insured.
  • £/€ 20,000 monthly purchase limit.
  • One of the most established and and trusted companies in crypto.
CONS:
  • Tons of fees, for example, Crypto Liquidation Fee of 2.49% on all transactions.
  • No perks such as rebated Netflix or Amazon Prime.
  • No cash back on purchases.
  • Long support times.
  • No fiat options.

Specification: Coinbase Card Review

Company & Availability
Insurance Coverage Pooled
Eligible regions , , , , , , , , , , , , , , , , , , , , , , , , , ,
KYC
Credit Check No
Savings Information
Supported Cryptocurrencies
Gas fees No fees
Availability
ATM Access Worldwide
Pay In Local Currencies Yes
Support
24 hour support Yes
Live Support Yes, Bot support
Staking
Staking required No
Staking amount N/A
Minimum stake Term N/A
Token Ticker -
Rewards
Cashback on spending 4% in rewards, No
Cashback Restrictions N/A
Max Cashback 4%
Referral Rewards Referral Reward $10
Spending Limits
Daily ATM Limit £/€ 500
Daily Purchase Limit $5,000, £/€ 10,000
Monthly Purchase Limit £/€ 20,000
Fees
Online/Offline Purchase Fees Domestic purchase free/ Intra EEA .20% of values of POS transaction + Crypto Liquidation Fees 2.49% of transaction value
Topping up fee N/A
ATM Fees Domestic withdrawal free up to £/€200. 1% of a value of each transaction thereafter + Crypto Liquidation Fee of 2.49% of transaction value
International ATM fee Transactions more than £/€200 charged 2% of the value + Crypto Liquidation Fee 2.49% of transaction value
POS Foreign Transaction fee 3% of value of transactions + Crypto Liquidation fee 2.49% of transaction value
Card Replacement Fee £/€ 4.95
ACH Declined No fee
Charge back processing £/€ 20.00
Dormancy No fee
Exchange Rate Provider N/A
Card Features
Instant settlement Yes
Prepaid N/A
Topping up limit N/A
App Payments Apple Pay, Google Pay
Dual-Interface NFC/EMV (Card with chip) Yes
Virtual Cards Yes
Physical Cards Yes
Security
Fraud Monitoring Yes
Freeze / Unfreeze Yes
Instant Notifications Yes
Pin Viewing Yes
2FA Yes
Asset protection & Insurance
Audited No
Cold Storage Yes
Company Backing Binance
FDIC insurance US cards only have FDIC on cash balances up to $250,000 per individual
Insured by BitGo

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