Coinbase Eliminates Waitlist for Coinbase One Card
In a significant move, Coinbase has eliminated the waitlist for its Coinbase One Card, thereby granting access to a vast number of individuals across the United States who had previously expressed interest in the card. Developed in collaboration with American Express, the Coinbase One Card offers holders Bitcoin rewards that can reach as much as 4%, contingent on the volume of cryptocurrency they maintain on the Coinbase platform.
Reward Structure
Initially, users earn a 2% return in Bitcoin, with the potential to increase this reward to 4% by depositing a greater quantity of digital currency. According to Coinbase, early adopters have collectively contributed over $200 million to bolster their rewards through the platform.
Unique Features of the Coinbase One Card
This card distinguishes itself from other credit cards by offering Bitcoin rewards on every purchase, regardless of the category. For instance, those who earn 2% back in Bitcoin will enjoy these rewards on everyday expenses, from filling up their gas tanks to dining out. The company’s statistics reveal that cardholders have collectively spent in excess of $100 million, averaging around $3,000 monthly.
“As we look at data from sources like NerdWallet, it shows that users of conventional credit cards spend an average of nearly $9,000 each year,” stated Ben Shen, Senior Director of Product at Coinbase, in an interview with Decrypt. “We’re encouraged by the spending patterns we’re observing, which suggest that early users consider the card as a primary payment method.”
Access and Subscription Options
The Coinbase One Card can be exclusively accessed by subscribers to Coinbase One, the exchange’s premium service that entails zero trading fees and various account protections for a monthly fee of $29.99. However, a more economical option, called Coinbase One Basic, is now available, offering limited benefits for just $5 monthly or $49.99 annually.
Impact on Subscription Revenue
This initiative, launched in June, marks a new avenue for Coinbase to enhance its subscription revenue, which amounted to over $655 million for subscription and services in the second quarter of 2025—a roughly 9.5% increase compared to the previous year’s figures.
“The introduction of the card fits within our expanding ecosystem of services at Coinbase,” Shen added. “Our aim is to offer functionality that allows users not just to earn and spend their crypto but also to save, invest, borrow, and lend, meeting the needs of both seasoned cryptocurrency users and those just beginning to explore the space.”
