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Coinbase announces the reward system to the Visa debit card

 

Coinbase, a Nasdaq-listed cryptocurrency exchange, said yesterday that it would begin offering Coinbase card services to select waiting clients, who will be able to earn up to 4% crypto rewards on their purchases.

 The Coinbase Card is a Visa-backed debit card that offers rewards in cryptocurrency instead of traditional rewards.


The debit card allows its holders to spend their cryptocurrency at any vendor where the Visa card is accepted.


While many debit card services offer cryptocurrency spending options, the card announced by Coinbase allows direct spending from the user's Coinbase account.


The card supports a total of 30 cryptocurrencies and allows users to earn up to 1% of Bitcoin or 4% of Stellar.


The “Fold” app was the first of its kind to launch a bitcoin and crypto rewards service, allowing users to earn rewards in cryptocurrency when they use the app for purchases.


Fold currently offers its services to debit card users but the app management plans to expand the bitcoin rewards network for credit card users as well.


Coinbase Adds Apple Pay and Google Pay:


Apart from announcing new services for the Coinbase card aimed at specific customers, Coinbase also announced support for both Apple Pay and Google Pay digital payment service, which will allow users to send money directly to the Coin account.

 The addition of popular payment services will open up more gates and make payments easy as there are more than 1 billion iPhone users.


Coinbase went public in April of this year via a direct listing on Nasdaq with one of the highest valuations in a public listing.


The public listing is seen as a huge step forward for the cryptocurrency space as it will provide significant exposure to regular investors.


Coinbase also recorded an exceptional first quarter of 2021, with nearly $1 billion in revenue and more than 50 million registered users.

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