Coinbase has announced plans to launch the Coinbase One Card in fall 2025, marking another ambitious entry into the increasingly crowded crypto rewards credit card arena—a sector that experienced considerable turbulence during the 2022 crypto winter yet appears determined to resurrect itself with renewed vigor.
The card, issued by First Electronic Bank and powered by the American Express Network, represents Coinbase’s calculated bet that nearly one million existing Coinbase One subscribers will embrace yet another method of accumulating Bitcoin through mundane daily expenditures.
The rewards structure operates on a tiered system that would make airline loyalty programs blush with envy.
A tiered rewards system so elaborate it makes airline loyalty programs look refreshingly simple by comparison.
Base rewards start at 2% Bitcoin back on all purchases—already competitive in traditional cashback terms—but can escalate to an impressive 4% based on users’ Coinbase asset holdings, with intermediate tiers at 2.5% and 3%.
This gamification fundamentally transforms grocery runs and coffee purchases into Bitcoin accumulation strategies, though one might wonder if the psychological satisfaction of earning cryptocurrency justifies the mathematical complexity.
Access requires maintaining a Coinbase One subscription ($4.99 monthly or $49.99 annually), which includes zero trading fees up to $500 monthly and 4.5% APY on the first $10,000 held.
The subscription model creates an interesting dynamic: users must pay for the privilege of earning rewards, though the trading fee savings alone could justify the cost for active traders. While Coinbase offers traditional staking rewards through its platform, emerging networks like Kaanch are attracting attention with presale staking opportunities that promise significantly higher yields of up to 119 percent APY. The card operates with no annual fees, distinguishing it from many premium credit cards that charge hefty yearly costs for similar reward structures.
The card’s feature set appears deliberately extensive, offering acceptance at over 40 million merchants worldwide while eliminating foreign transaction fees—a practical consideration often overlooked by crypto-focused products. The card will feature a distinctive metal design engraved with Bitcoin’s genesis block story, adding a premium aesthetic element to the crypto rewards experience.
Perhaps most significantly, rewards carry no caps, theoretically allowing unlimited Bitcoin accumulation through spending, though practical limitations obviously apply given most people’s finite purchasing power.
Early access operates through a waitlist system exclusive to U.S. residents with existing Coinbase One memberships, creating artificial scarcity around what is fundamentally a financial product.
This approach leverages Coinbase’s existing ecosystem while positioning the card as both a customer retention tool and acquisition vehicle, demonstrating how crypto companies increasingly blur the lines between financial services, subscription models, and reward systems in their quest for sustainable revenue streams.
