Full Review On Coinbase Debit Card After 2 Weeks

I’ve been using the Coinbase debit card for over two weeks now and just wanted to share my review.

The Coinbase Debit Card is nearly identical to a traditional debit card; however, it allows cardholders to use cryptocurrency in place of traditional monetary means to make purchases.

Pros

1. No annual fee
2. 4% cash back in Steller XLM OR 1% cash back in bitcoin.
3. Cash back is either instant or settles the next day (most of the time)
4. No liquidation fee if using USDC
5. Adding USDC to Coinbase is instant

Cons

1. 2.49% liquidation fee if you are paying with crypto currencies that aren’t USDC.
2. only two coins that you can earn

I haven’t even used it with any actual crypto currency because the 2.49% fee makes it not worth it. However, I’ve been paying with everything I can through USDC and I’ve already racked up $76.12 in stellar (the recent pumped helped). And that’s only using it through Apple Pay as I haven’t received the card in the mail yet.

Every time I run out of USDC I just add more through Coinbase. It’s free, no fees at all. I’ve been using a card that got me 2% cash back on everything and thought that was good. Now I’m getting double that AND being able to invest in a project I enjoy.

It’s like DCA too since you’re “buying” coins every day, multiple times a day. If you don’t like stellar, you can always convert your rewards to another currency in the app, or send it to another exchange and convert it there.

I really see nothing wrong with the card and would recommend it to anyone. This is a great way to make extra crypto without wasting time doing surveys or games and it beats any other cash back credit card.

TLDR: Coinbase Debit Card is a great way to stack Stellar coins. You get 4% cash back in the form of stellar. You can choose bitcoin as well but you only get 1%. No fees if you use USDC. Highly recommended.