In brief
- Coinbase is ending the waitlist for its Coinbase One Card, making it available to hundreds of thousands of American users.
- The card provides up to 4% BTC back in rewards based on how much crypto the user holds on Coinbase.
- The card is exclusively available to subscribers to Coinbase’s Coinbase One service.
Coinbase is ending the waitlist for its Coinbase One Card, opening access to hundreds of thousands of Americans that previously registered interest in the card.
The Coinbase One Card, created in partnership with American Express, provides users with up to 4% in Bitcoin rewards depending on how much crypto they hold on the exchange. All card users start with 2% back in Bitcoin, but can earn up to 4% by depositing more cryptocurrency on the platform.
The firm says early card users have added more than $200 million to the platform to bolster their rewards.
Unlike competing credit cards, Coinbase offers its variable Bitcoin rewards on all purchases across spending categories. For example, those earning 2% BTC back will get it when filling up their gas tanks or when dining out. Thus far, card users have spent more than $100 million, the company said, spending $3,000 on average per month.
“When you look at third party data like NerdWallet’s, you’ll see holders of general purpose cards are spending an average of almost $9,000 per year on each card,” Coinbase Senior Director of Product Ben Shen told Decrypt. “We are seeing encouraging signs based on early spending behavior, indicating that the card is being used in a ‘top-of-wallet’ fashion for a number of early adopters.”
The card is exclusively available to Coinbase One users, the exchange’s premium subscription that offers zero trading fees and account protection, among other benefits, for $29.99 per month.
But users can gain access to the card for even cheaper thanks to the firm’s new Coinbase One Basic tier, which provides fewer benefits for $5 a month, or $49.99 per year.
Coinbase said Monday that the card will imminently offered to all One subscribers in the U.S. following a brief delay, telling Decrypt shortly after this story posted: “Due to a technical delay, the general availability of the Coinbase One Card is briefly on hold.”
Announced in June, Coinbase’s credit card endeavor provides the firm with a new path to growing its subscription revenues.
The firm recorded more than $655 million in total subscription and services revenue in the second quarter of 2025—around a 9.5% increase for the same time period from 2024.
“The card is part of a growing flywheel of offerings at Coinbase where you can earn, save, invest, borrow, lend, and spend your crypto,” said Shen. “We’re excited to continue building this out with more financial services and asset classes, so that we can deliver everyday value to both crypto-native and ‘crypto-curious’ folks.”
Editor’s note: This story was updated after publication with a comment from Coinbase regarding a brief delay.
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Source: https://decrypt.co/344888/coinbase-one-card-opens-all-users-bitcoin-rewards
