A Dive into the Coinbase Cards, Deposit Rewards and Staking Rewards
Coinbase is a leading online platform allowing users to trade and exchange various cryptocurrencies. It has over 98 million users and over $256 billion in assets. As one of the biggest platforms in the world of crypto trading, it offers a simple and secure entry point to the world of cryptocurrencies. Its robust security measures and user interface make it an ideal choice for individuals and businesses. This article will dive into Coinbase cards, deposit bonuses and staking rewards.
Coinbase Cards
| Card | Cost | Fees | Cashback |
| Coinbase Visa card | £4.95 | 2.49% fee to convert your crypto to dollars | Up to 4% back in your choice of crypto |
| Visa Debit/ Credit card | 3.99% fee Up to 2.5% fee for UK/EU customers using instant card cashout | ||
| Mastercard Debit /Credit card | Up to 2.5% fee for UK/EU customers using instant card cashout |
Instant Cashouts
Coinbase’s instant cashouts are a convenient way for users to get their money in seconds. They allow them to withdraw funds from their local currency wallet with just a few clicks with your Visa Fast Funds-enabled debit and credit cards. US customers can only link their Visa Fast Funds or Mastercard Send-enabled debit cards to access these services. In addition, these Mastercard cashouts are not EU or UK-supported.
Eligibility for Instant CashOuts
- Have a verified and linked credit/debit card on Coinbase.com that is Visa Fast Funds or MasterCard Send enabled by your card issuer
- Live in the UK, EU, or US
- Have a GBP, Euro, or USD wallet on Coinbase.com
Instant Bank Cashouts
Instant cash outs allow US Coinbase customers to instantly cashout money from your USD wallets directly to your Real Time Payments (RTP) enabled US bank accounts.
Eligibility for Instant Bank Cashouts
- Have a verified and linked US bank account on Coinbase.com that is Real Time Payments enabled by your bank.
- Live in the US.
- Have a USD wallet on Coinbase.com.
Coinbase Card Fees and Limits
The Coinbase Card is a card for users that allows them to spend funds from their crypto wallets on the platform. Notably, it is a VISA card and hence can be used everywhere where VISA is accepted. Here are the fees that are charged on the card;
| Fees | Amount |
| Plastic Card Issuance Fee | £4.95 / 4.95 € |
| Domestic Cash Withdrawal Fee(Applies for both ATM and Over the Counter Withdrawals | Up to £200 / 200 € per month: Free |
| Any amount over £200 / 200 € per month: 1.00% of value of ATM withdrawal(per transaction) | |
| Domestic Purchase Transaction Fee | Free |
| International Cash Withdrawal Fee (applies to both ATM and Over The Counter “OTC” withdrawals) | Up to £200 / 200 € or currency equivalent per month: Free |
| Any amount over £200 / 200 € or currency equivalent per month: 2.00% of value of ATM withdrawal (per transaction) | |
| Intra-EEA Purchase Transaction Fee | 0.20% of value of POS transaction |
| International Purchase Transaction Fee | 3.00% of value of POS transaction (per transaction) |
| Card Replacement Fee | £4.95 – 4.95 € (per Card issued) |
| Chargeback Processing Fee | £20.00 / 20,00 € |
| Crypto Liquidation Fees | 2.49% of transaction |
| Intra-EEA Purchase Transaction Fee(Applicable to customers of Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden) | 0.2% of transaction |
Notably, the Coinbase Card is available for customers in Austria, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the UK.
Spending Limits
The daily spending limit on the card is currently set at £10,000 or 10,000. You can request to change this limit by contacting [email protected]. There are also various purchase limits that you can set. For instance, you can set a monthly limit of 20,000 Euros and a yearly limit of 100,000 Euros. Additionally, ATMs have a daily withdrawal limit of £500/500 €.
Coinbase Card Rewards
Using a Coinbase card for purchases allows rewards for the transactions depending on the cryptocurrency you transact as shown;
| Cryptocurrency | Cashback |
| Stella Lumens(XLM) | 4% |
| Bitcoin(BTC) | 1% |
| The Graph(GRT) | 4% |
| Ethereum(ETH) | 1% |
| Dogecoin | 1% |
| Dai(DAI) | 1% |
Deposits and Deposit Rewards
| Company | Deposit Fee | Withdrawal fee | Speed |
| Bank Account | Free | Free | 3-5 days |
| Silvergate Exchange Network | Free | Free | 1 business day |
| Fedwire | $10 | $25 | Instant |
| SWIFT | $25 | $25 | 1-3 business days |
Deposits
Although cryptocurrencies are generally considered unlimited, fiat deposits are limited by the method of payment used. For instance, deposits made through Fedwire are not allowed to exceed the weekly bank transfer limit. On the other hand, deposits made through an ACH transfer are limited based on the weekly bank transfer limit.
Both fiat and cryptocurrencies have limited withdrawal limits. For instance, on Coinbase, account holders can withdraw up to $500,000 daily. This amount applies to all currencies and can be withdrawn across all transactions.
To increase your withdrawal limits, go to your limits page within Coinbase Exchange. There, you can choose to increase your limit.
Deposit Rewards
Currently, there is an ongoing promotion hereby new deposits made upon signing up on Coinbase are rewarded with $5 in bitcoin.
Staking Rewards
Staking is a type of passive income that allows people to earn money from their cryptocurrency by contributing to the blockchain’s proof of stake network. On Coinbase, users can stake cryptos to earn rewards depending on the asset choice. At the moment, there are six assets offered;
| Cryptocurrency | Minimum Balance | Payout Rate | Rewards |
| Ethereum(ETH) | No minimum balance | Daily | 5% APY |
| Cosmos(ATOM) | 1 ATOM | Weekly | 4% APY |
| Algorand(ALGO) | 0.01 ALGO | Daily | 4% APY |
| Dai(DAI) | $1 worth of DAI | Daily | 2% APY |
| USD Coin(USDC) | $1 worth of ADA | Monthly | 0.15% APY |
| Cardano(ADA) | $1 worth of ADA | 20–25 days | 3.75% APY |
| Tezos | 1 XTZ | 3 days | 4.63% APY |
Only two of these assets are eligible for rewards with your Coinbase card. These are Dai and Ethereum. You can earn rewards in one asset and then trade them for another.
Eligibility requirements for staking rewards
- A minimum balance can be maintained on Coinbase, or the cryptocurrency can be transferred from an outside wallet or exchange
- Users must have identity verified
- Users must hold the eligible cryptocurrency on Coinbase.com (rewards are not available on Coinbase Pro)
- Users must have the minimum balance needed for that specific cryptocurrency
Countries allowing staking
- UK
- Slovakia
- Belgium
- France
- Spain
- US (Excluding New York for Ethereum, Tezos, and cosmos; and Hawaii residents)
Conclusion
Getting into the cryptocurrency market can be very challenging for new investors. With a simple and user-friendly platform like Coinbase, it can be a great start for anyone interested in learning more.
Their ordering system of Coinbase is incredibly simple, and its Pro platform is also very easy to navigate. Its desktop offering is also as simple as its mobile app. In addition to earning cryptocurrency through its mobile app, you can also learn more about the company’s offerings through Coinbase earn.
