Coinbase Card Review

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Best For: Existing Coinbase Users

Availability:

UK & EEA

Currency:

EUR, GBP

Fees:

High

Issued By: Paysafe Financial Services Limited

Coinbase Card is a crypto debit card that enables cardholders to directly spend their crypto assets on everyday purchases wherever Visa is accepted. The card currently supports 9 popular crypto assets and is available in most European Economic Area (EEA) countries.

Note: Coinbase Card is currently not available in the US.

Pros and Cons

Coinbase Card Overview

Card Network	Visa
Supported Currency	EUR, GBP
Issuing Exchange	Coinbase Pro
Virtual Card Support
Available in US
Available Regions	UK & EEA
Card Delivery	5-7 business days
Crypto-to-Fiat Fees	2.49%
Top Up Assets	ETH, XRP, BTC, ZRX, REP, BAT, BCH, XLM
Top Up Stablecoins	DAI
Top Up Methods	Crypto Deposit, Direct Deposit, ACH Credit, SWIFT, SEPA
NFC Support
Mobile Wallets	Google Pay
KYC Check
Credit Check
Issuing Bank	Paysafe Financial Services Limited
Benefits & Rewards	No Rewards

Benefits & Rewards

The Coinbase Card does not currently offer cardholder benefits or rewards.

Coinbase Card Notable Fees and Limits

Coinbase Card Spending Limits

How to Get the Card

In order to qualify for a Coinbase Card, existing Coinbase exchange users must request a card through the Coinbase Card mobile app.

The card application process works as follows:

1. Cardholders use their existing Coinbase exchange account credentials to log in and sign up for a card.
2. The same KYC registration requirements for a Coinbase exchange account apply to cardholders. Users who pass the initial Coinbase exchange account identity verification process shouldn’t have a problem applying for a Coinbase Card.
3. Coinbase charges a physical card issuance fee of £4.95 or €4.95. This fee is paid using the crypto asset balance in your linked Coinbase exchange account. Cardholder applicants can pay with BTC, ETH, LTC, BCH, XRP, BAT, REP, ZRX, or XLM. Fiat currency is not supported for card issuance fee payments.
4. According to Coinbase, cards are mailed out every afternoon, Monday through Friday.
5. Applicants who sign up for a Coinbase Card should receive their card in the mail within 5 to 7 business days.

Mobile App Experience

The Coinbase Card mobile app is used for card registration, card activation, and fund deposits.

Here are a few key details about the mobile app:

Card Activation

Once a cardholder receives their card in the mail, they can easily use the Coinbase Card mobile app to activate the card. In the package, cardholders will find the physical card, along with a letter that includes the card’s activation code.

Cards can also be activated via phone. To find a local support number, go to the mobile app and tap ‘Card Settings’ > ‘Call Support’. Be sure to have your activation code ready when calling.

Adding Fiat & Crypto Assets

The Coinbase Card is linked to the existing balance of your Coinbase exchange account. The card does not currently support direct fiat currency deposits or spending, but fiat can be used to purchase crypto assets via your Coinbase exchange account.

The available crypto balances are BTC, ETH, LTC, BCH, XRP, BAT, REP, ZRX, XLM, and the recently-added DAI stablecoin.

Coinbase enables you to deposit crypto assets, which can then be spent with the debit card.

Accepted fiat currency deposit methods vary for each country. Most users from EEA countries can deposit via PayPal, 3-D Secure, debit card, or credit card. From there, users must convert fiat currency to a crypto asset supported by Coinbase Card. Options include BTC, ETH, LTC, DAI, BCH, XRP, BAT, REP, ZRX, or XLM.

Withdrawing Crypto Assets

Mobile app users can withdraw crypto assets to external wallets by paying standard blockchain transaction fees. The average cost of BTC withdrawals, for example, is around $0.10. In order to initiate a crypto withdrawal, Coinbase typically requires users to complete identity verification first. Specific account limits based on verification status can be found on the Account Levels page.

How to Use the Card

Using Coinbase Card for purchases is comparable to using traditional debit cards, with only a few slight differences.

1. Cardholder deposits or purchases crypto assets on their Coinbase exchange account.
2. Cardholder links their Coinbase exchange account to their Coinbase Card account.
3. Cardholder directly spends crypto assets online or in-store at any Visa-approved merchant.
4. Visa verifies that there are sufficient funds available to complete the cardholder’s transaction.
5. Coinbase converts crypto assets to fiat currency on behalf of the cardholder.
6. The merchant receives payment in their local fiat currency, regardless of which crypto asset has been selected.

Coinbase Card Alternatives

Rating	7/10	6/10	5.5/10
Supported Currency	EUR, GBP	USD	EUR, GBP
Physical Card Issuance Fee	$4.95	$9.95	Free
Domestic ATM Fee	1%	$2	$1.75
Crypto-to-Fiat Fees	2.49%	Varies 0.5%-1%	1%
International Transaction Fee	3%	3%	3%
Mobile Wallets	Google Pay		Google Pay, Apple Pay
Available Regions	UK & EEA	U.S	UK EEA & SG
Learn More	Review	Review	Review

Frequently Asked Questions

Conclusion: Is Coinbase Card Worth It?

Coinbase is undoubtedly one of the most reputable cryptocurrency exchanges. With this worldwide name recognition, one would expect the Coinbase Card to be a high-quality option. Unfortunately, these expectations are unfounded.

High transaction fees, low ATM withdrawal limits, and limited global availability are the main drawbacks to this crypto debit card. Many customers have complained that the mobile app user experience is also lacking, especially when compared to the main Coinbase exchange app.

It’s difficult to envision the Coinbase Card gaining traction without a significant reduction in fees across the board.

Due to becoming a Visa principal member in February 2020, Coinbase may be able to offer additional services and market expansion. This change would make Coinbase Card a more viable option. Coinbase may issue Visa cards directly to consumers, rather than relying on third party banks. This could result in the removal of extremely high additional fees.

At this time, with the subpar current fee structure and lack of cardholder benefits and rewards, it’s hard to make a convincing argument in favor of Coinbase Card.

Company Facts