Cryptocurrencies have been around for over a decade now, but one of the biggest hurdles has been finding ways to actually use them for day-to-day transactions.
Enter Coinbase Card, a Visa debit card that allows you to spend your crypto or US dollars anywhere Visa is accepted.
Here's how it works.
First things first, in order to be eligible for the Coinbase Card, you must live in the US (excluding Hawaii) and have completed identity verification with Coinbase and their bank partner during the credit card application process.
There is no application fee or credit check to receive the card, but you must have a valid Coinbase account and have completed all identity verification steps.
If you meet the eligibility requirements, you can sign up for Coinbase Card through Coinbase.com or the Coinbase mobile app.
Simply go to your Pay tab, select Apply now under Coinbase Card, and follow the prompts to sign up.
Once you've been approved for the Coinbase Card, you can begin using the card immediately for online purchases by accessing the card number found on your Coinbase account.
The number will match your physical card once you receive it in the mail, which should take 7-10 business days.
One of the unique features of Coinbase Card is that you can spend not only US dollars but also any of the cryptocurrencies you own, including USDC.
Simply select the cryptocurrency wallet you want to spend from within the Coinbase app and your transaction will be processed in real-time at the current exchange rate with no additional fees.
For US users, there's an added incentive to using the Coinbase Card.
You have the ability to earn rewards when spending with your card.
The more you use your Coinbase Card, the more rewards you earn which can accumulate over time. This feature is currently only available for US users and excludes Hawaii.
In the unfortunate event that your Coinbase Card is lost or stolen, you can have a new card sent to you at no cost.
Simply sign in to your account, select Coinbase Card, and then select Manage card in the top right corner.
From there, select Support and report your card as lost or stolen. Follow the prompts and you should receive your new card in the mail within 7-10 business days.
This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.