In the course of my job, I read a lot about cryptocurrency. Really. Like, too much. And for a long time, I barely understood any of it. DeFi? Blockchains? Staking? Hashing? As someone who is definitively ‘not a math guy’, I let it all wash over me.
However, I recently decided I had to learn a bit about this sector which was becoming a big part of my everyday world. So I started doing some due diligence and tuned into the space with a bit more intention. Eventually, figuring I would learn more with some skin in the game, I opened up a Coinbase account.
Here is where I found the Coinbase Card.
In my humble opinion, the Coinbase Card is the single best rewards card you can get in 2021 (for those in the USA). If the terms don’t change, I think it will be one of the best rewards cards in 2022, too. Let me explain:
The Coinbase Card is a no-fee debit card (not a credit card), which currently pays you 4% back on every purchase you make. These rewards are deposited instantly into your Coinbase account in the form of selected cryptocurrencies.
The Coinbase Card:
- Requires no credit check and no minimum balance
- No annual fees, ATM fees, or foreign transaction fees
- Unlimited 4% back on EVERYTHING — no categories are restricted
- Your USDC (cash) balance earns 0.15% APY interest
For comparison, some of the best rewards credit cards you can get might pay 2% cash back on everything, and maybe 5% for certain stores or categories. Often, these rewards come in the form of ‘miles’ and need to be redeemed using arcane rewards websites. Or rewards are capped at a certain level. As far as I know, no credit cards currently pay unlimited 4% flat cash back (please let me know if I’m wrong).
Additionally, many of the best rewards credit cards require a high credit score or a yearly membership fee. And if we want to get a little more abstract, the entire business model is based on encouraging you to overspend so the credit card company can collect interest and late fees.