Coinbase Launches One Card Offering 4% Bitcoin Cashback

Coinbase has launched the One Card, a metal credit card that offers up to 4% cashback in Bitcoin on every transaction. This innovative payment solution is exclusively available to Coinbase One subscribers, highlighting the company's dedication to integrating crypto rewards into daily spending. The card, powered by the American Express network, ensures global acceptance and provides immediate Bitcoin rewards, setting a new standard for merging physical transactions with digital perks.

The One Card is part of Coinbase's premium subscription service, Coinbase One. Subscribers pay $4.99 per month or $49.99 annually to access the card and additional benefits, including zero trading fees of up to $500 per month, competitive APY on USDC deposits, and enhanced account protection. These perks make the One Card more than just a stylish financial tool; it is a comprehensive suite designed to enhance everyday financial activities for both new and experienced crypto users.

This new offering is poised to drive mainstream crypto adoption by transforming ordinary spending into an opportunity to earn Bitcoin. With every swipe, users accumulate rewards in the world’s leading cryptocurrency, injecting innovation into daily purchases. This strategic move benefits consumers by reducing friction in digital transactions and reinforces Coinbase’s position at the forefront of digital finance. As consumers become more comfortable with crypto’s utility in the real world, products like the One Card are likely to usher in a broader shift toward a more integrated financial ecosystem.

The launch of the One Card comes at a time when the crypto industry is preparing for a boom in product launches due to pro-crypto policies and the promise of clearer regulations. This makes it an opportune time for Coinbase to introduce a subscription-driving product. The card’s success will likely depend on whether users find the broader Coinbase One ecosystem valuable enough to maintain subscriptions long-term, rather than just the card’s reward rates alone. The card’s fee structure and timing suggest that this move may be more about driving recurring revenue growth for Coinbase than revolutionizing crypto rewards. The card’s competitive landscape includes other crypto cards that offer similar or higher cashback rates without annual or monthly fees, such as the Gemini Credit Card, Nexo Card, and Crypto.com card. These alternatives may pose a challenge to the One Card’s appeal, especially for users who are not already committed to the Coinbase ecosystem.