Coinbase One Card Now Available with 4% Bitcoin Rewards

The Coinbase One Card introduces a unique rewards model that directly ties Bitcoin earnings to users’ cryptocurrency deposits on the platform. All cardholders begin with a baseline 2% Bitcoin back on all purchases, but can increase their rewards to the maximum 4% threshold by maintaining higher cryptocurrency balances with Coinbase. This innovative approach has already demonstrated significant traction among early users, with the company reporting that cardholders have added more than $200 million to the platform specifically to boost their rewards earnings.

Early spending data reveals substantial user engagement, with cardholders spending more than $100 million collectively while averaging approximately $3,000 in monthly transactions per card. According to Coinbase Senior Director of Product Ben Shen, this spending pattern indicates ‘encouraging signs’ that the card is being used in a ‘top-of-wallet’ fashion among early adopters. The average spending significantly outpaces industry benchmarks, with Shen noting that general purpose cardholders typically spend nearly $9,000 annually per card based on third-party data from sources like NerdWallet.

Access to the Coinbase One Card is exclusively available through Coinbase’s premium subscription service, Coinbase One, which traditionally costs $29.99 per month and includes benefits such as zero trading fees and account protection. However, the company has introduced a new Coinbase One Basic tier priced at just $5 per month or $49.99 annually, providing a more affordable entry point for users primarily interested in card access while offering fewer comprehensive benefits than the premium subscription.

This card launch represents a strategic move to bolster Coinbase’s subscription revenue, which has shown strong growth momentum. The company recorded more than $655 million in total subscription and services revenue during the second quarter of 2025, marking approximately a 9.5% increase compared to the same period in 2024. As Ben Shen explained, ‘The card is part of a growing flywheel of offerings at Coinbase where you can earn, save, invest, borrow, lend, and spend your crypto.’ This integrated approach aims to deliver ‘everyday value to both crypto-native and crypto-curious folks’ while expanding Coinbase’s financial services footprint.

The Coinbase One Card distinguishes itself from traditional credit card offerings through its universal Bitcoin rewards structure, applying the variable reward percentage across all spending categories without restrictions. Whether users are purchasing gasoline, dining at restaurants, or making everyday retail purchases, they earn the same Bitcoin rewards rate, eliminating the category-specific limitations common among competing rewards cards.

Despite initial plans for immediate general availability following the waitlist removal, Coinbase announced a brief technical delay in the card’s full rollout. The company confirmed that ‘due to a technical delay, the general availability of the Coinbase One Card is briefly on hold,’ though it emphasized this would be a temporary interruption. Originally announced in June, the card’s development in partnership with American Express signals Coinbase’s commitment to bridging traditional financial services with cryptocurrency ecosystems, creating what Shen describes as ‘more financial services and asset classes’ for the company’s growing user base.