Coinbase announced its first branded credit card, the Coinbase One Card, on June 12, 2025, during its State of Crypto Conference in New York City. This marks a significant expansion for the crypto exchange into traditional financial products, partnering with the American Express Network to power the card.
As of October 13, 2025, the card is set to launch this fall likely October or November, and interested users can join a waitlist for early access. The card is designed with a strong Bitcoin focus, appealing to crypto enthusiasts while integrating American Express perks.
Up to 4% back in Bitcoin on every purchase 2% base rate, scaling up based on assets held on Coinbase. Rewards are auto-deposited to your Coinbase account and won’t appear on 1099 tax forms though selling them may trigger taxes.
Metal card engraved with data from Bitcoin’s Genesis Block the first block mined by Satoshi Nakamoto in 2009, symbolizing crypto heritage. No annual fee for Coinbase One members; no foreign transaction fees.
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Exclusive to U.S. Coinbase One subscribers excluding U.S. territories. Offered at no extra charge with the new Basic plan or higher tiers. Access to American Express benefits like exclusive events, offers, and purchase protections; up to $1,000 in crypto theft protection via Coinbase One.
To get the card, you need a Coinbase One membership launched in 2023 with nearly 1 million users. A new affordable “Basic” tier was introduced alongside the announcement:Basic: $4.99/month or $49.99/year – Includes the card, zero trading fees on up to $500/month in trades, 4.5% APY on first $10,000 in USDC, and boosted staking rewards.
Preferred/Premium: Higher tiers ($29.99+/month) offer enhanced limits and benefits. The card is issued by First Electronic Bank, with Cardless handling the embedded tech platform.
This launch comes amid a crypto-friendly regulatory environment under the Trump administration, with clearer rules expected from Congress. It’s Coinbase’s first credit card following a 2020 Visa debit card, competing with cards like Gemini’s up to 3% crypto back.
Experts see it as a retention tool for loyal users, blending everyday spending with crypto rewards to drive adoption. By integrating Bitcoin rewards into a credit card backed by American Express, Coinbase makes crypto more accessible for everyday spending.
This could normalize cryptocurrency as a reward mechanism, similar to cashback or travel points, encouraging non-crypto users to engage with digital assets. The up-to-4% Bitcoin rewards structure incentivizes users to accumulate and potentially hold or spend Bitcoin.
The card’s design, featuring Bitcoin’s Genesis Block, reinforces crypto’s ideological roots, appealing to enthusiasts and potentially attracting new users curious about Bitcoin’s history. Requiring a Coinbase One subscription starting at $4.99/month for the Basic tier ties users to Coinbase’s platform, encouraging them to consolidate trading, staking, and spending within its ecosystem.
The card positions Coinbase against competitors like Gemini which offers a 3% crypto rewards card and traditional fintechs like PayPal or Block. The American Express partnership adds prestige and perks, differentiating it from Coinbase’s earlier Visa debit card.
Beyond trading fees, Coinbase gains from subscription fees and potential interchange revenue from card transactions, bolstering its business model amid volatile crypto markets. The Coinbase One Card’s no-annual-fee structure for Coinbase One members and high crypto rewards challenge traditional credit card issuers like Visa and Mastercard to innovate, potentially sparking a wave of crypto-linked cards.
This collaboration signals growing acceptance of crypto by legacy financial institutions. Amex’s involvement could pave the way for other major networks to explore crypto integrations, especially as regulatory clarity improves under a crypto-friendly U.S. administration.
Auto-depositing Bitcoin rewards to Coinbase accounts simplifies the user experience, potentially setting a standard for how crypto rewards are managed compared to clunky cashback or points systems.
The launch aligns with a favorable U.S. regulatory environment in 2025, with anticipated clearer crypto rules from Congress. This reduces risks for Coinbase and users, fostering confidence in crypto-linked financial products.
While rewards aren’t reported on 1099 forms, selling Bitcoin earned from purchases may trigger capital gains taxes. This could push users to better understand crypto tax obligations, potentially spurring demand for tax software integrations on Coinbase.
Increased Bitcoin accumulation through rewards could drive demand, potentially influencing Bitcoin’s price, especially if the card gains significant adoption among Coinbase’s 100 million+ users.
The card’s rewards structure higher rates for users with more assets on Coinbase encourages holding crypto on the platform, which could lead to greater investment in Bitcoin and other assets. Features like $1,000 in crypto theft protection and Amex purchase protections add security, appealing to cautious users hesitant about crypto’s volatility or fraud risks.
The card intensifies competition among crypto exchanges to offer value-added services. Platforms like Binance or Kraken may respond with similar products, accelerating innovation in crypto-financial services. The success of Coinbase’s card could inspire other industries to offer crypto rewards, further embedding digital assets in consumer finance.
A high-profile product launch backed by American Express could boost investor confidence in Coinbase and the crypto sector, especially if the card sees strong adoption. Bitcoin’s price fluctuations could affect the perceived value of rewards, impacting user satisfaction if Bitcoin’s value drops significantly.
The card’s success depends on Coinbase One subscription uptake and user willingness to navigate crypto’s complexities, such as tax implications or wallet management. The Coinbase One Card is a strategic move to deepen crypto’s integration into everyday finance, leveraging American Express’s brand and Coinbase’s crypto expertise.
It could drive Bitcoin adoption, strengthen Coinbase’s market position, and influence the broader payments industry. However, its success hinges on user adoption, Bitcoin’s market performance, and sustained regulatory support.
