Coinbase has announced that it has waived transaction fees for its Coinbase Card. (opens in a new tab) to make it easier for customers to spend their cryptocurrencies (opens in a new tab).
The popular cryptocurrency exchange (opens in a new tab) reinvents the crypto spending and earning experience by removing transaction fees and giving users more opportunities to earn rewards.
While Coinbase customers often spend USDC and other stablecoins (opens in a new tab), the fees for spending crypto on other assets are seen as a hindrance when it comes to using crypto for everyday purposes. For this reason, the company has decided to remove transaction fees for crypto spending on its Coinbase card to give customers more flexibility in how they spend their crypto or money.
At the same time, as customers spend more, Coinbase wants to make it easier for them to fund purchases on their crypto debit cards by giving them more options to easily load their cards. They can now do this by having part or even all of their paycheck deposited into Coinbase with no fees on direct deposits.
Rotating and unlimited rewards
One of the ways Coinbase Card encourages users to explore and learn more about different cryptocurrencies is through crypto rewards. (opens in a new tab).
According to a new blog post (opens in a new tab) from Coinbase, customers will soon have the ability to easily earn new assets from a rotating list of crypto rewards simply by swiping their card. Through the company’s rotating rewards structure, customers will continue to earn up to 4% on every purchase.
Although these rewards have an expiration date, if a customer does not select a reward when initiating the next spin, Coinbase will automatically award them a reward with the highest crypto-back rate so they can diversify their income.
In addition to rotating rewards, Coinbase customers can continue to earn unlimited crypto rewards when using their Coinbase Card anywhere Visa debit cards are accepted.
Coinbase plans to remove the waitlist later this spring so that all US customers (except those in Hawaii) can sign up for Coinbase Card and start spending their crypto more easily online and in-store. stores.