Coinbase has announced the launch of its first credit card, the Coinbase One Card, in partnership with American Express. This new offering is geared toward Coinbase One members residing in the United States and offers the potential to earn up to 4% cashback in bitcoin.
Launch of the First Credit Card
Coinbase will release its first-ever credit card in collaboration with American Express called the Coinbase One Card. Unlike the previously issued prepaid debit card, this will be a fully-featured credit card. The launch is planned for this fall.
New Subscription Tier for Coinbase One
Coinbase One is a subscription service designed to enhance the user experience with cryptocurrency. With the recent introduction of a basic plan priced at $4.99 per month, access to key features, including eligibility for the Coinbase One Card, has become more affordable.
Conditions of Use for the Credit Card
The Coinbase credit card will reward users with bitcoin on their purchases. However, certain conditions apply: the amount of bitcoin rewarded depends on the cryptocurrency holdings, some transactions will not earn rewards, and active membership for Coinbase One is required to retain the card.
The launch of the Coinbase One Card in partnership with American Express underscores Coinbase's aim to integrate cryptocurrencies with traditional financial services. The new credit card and Coinbase One subscription open up fresh opportunities for users.
