Coinbase has announced it will launch its new Coinbase One Card later this year in partnership with American Express. The card will run on the American Express network while being issued by First Electronic Bank.
With up to 4% bitcoin back on purchases, this is welcome news for cryptocurrency enthusiasts seeking more competition in the crypto credit card market. However, it’s too early to tell if this offering is better than what’s currently available with crypto-based Gemini Credit Card or even an everyday cash-back credit card.
-
The Coinbase One Card launches in fall 2025 — you can sign up now for the early-access waitlist using the Coinbase website.
-
Earn between 2% and 4% bitcoin back on every purchase — you can unlock the higher earning rates by holding more assets with Coinbase.
-
It’s only available with a Coinbase One subscription, which will soon be available to all customers starting at $49.99 per year.
-
The Coinbase One Card is only available in the U.S. (excluding U.S. territories).
While more details will be released in the fall, here’s what we know about the Coinbase One Card for now.
Cardholders will earn 2%, 2.5%, 3%, or 4% bitcoin back on purchases, depending on their Coinbase assets. The more Coinbase assets you hold (we don’t know specific numbers yet), the higher your earnings rate.
It isn’t explicitly stated whether the Coinbase One Card has an annual fee. Our assumption is that it won’t because you have to pay for a Coinbase One subscription to qualify for the card.
One of the FAQs on the landing page also states that “the Coinbase One Card is exclusively available to Coinbase One members at no added charge.”
Apart from the rewards rate, there are no foreign transaction fees. Cardholders also receive Coinbase One and American Express benefits.
Coinbase One benefits:
-
$0 trading fees on the first $500 per month in trades (a spread applies)
-
4.5% APY on USDC rewards (on the first $10,000, then 4.1%)
-
5% more staking rewards on ETH, SOL, and other eligible assets
-
$120 ($10 per month) transaction credits on Base
American Express benefits:
-
Access to Amex Offers and Amex Experiences (perks only available on American Express credit cards)
-
Car rental loss damage
-
Emergency assistance
-
Extended warranty
-
Lost luggage insurance
-
Retail protection
-
Return protection
-
Roadside assistance
-
Trip cancellation and trip interruption
Availability and eligibility
The Coinbase One Card is only available to eligible applicants who are Coinbase One members located in the U.S. (excluding U.S. territories).
Coinbase One is a monthly subscription that provides different benefits depending on which subscription tier you sign up for. For example, the Basic tier provides zero trading fees on simple trades (a spread applies) up to a certain dollar amount per month. However, the Premium tier has no set dollar amount, giving you unlimited simple trades with zero trading fees.
Coinbase One Basic currently costs $29.99 per month or $299.88 per year. Coinbase One Premium costs $299.99 per month. You can pay for Coinbase One with a linked bank account, linked debit card, linked PayPal account, fiat wallet, or crypto.
On the topic of Coinbase One subscriptions, Coinbase has stated that “annual memberships starting at $49.99/year will be available to all customers soon.”
We don’t yet have all the information for the Coinbase One Card, but based on what we do know, here’s how it compares to the Gemini Credit Card.
If earning BTC is your priority, the Coinbase One Card looks like the better option because you can earn up to 4% back on every purchase. We don’t currently know if there’s a limit to how much you can earn at this rate, but we do know the 4% rate on the Gemini Credit Card has a limit of $300 in spend per month, then the rate drops to 1% for the rest of the month.
The Gemini Credit Card is also less appealing because its rewards rate is separated into different bonus categories. Compare this to the Coinbase One Card, which has a flat rate that rewards you for any type of eligible purchase, regardless of category.
However, the Gemini Credit Card has a welcome bonus, and we don’t know if the Coinbase One Card will have one. You can also earn over 50 types of cryptocurrency with the Gemini Credit Card, while the Coinbase One Card seems to be solely focused on bitcoin.
Related: Can you buy crypto with a credit card?
This article was edited by Alicia Hahn.
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
