Been using the Coinbase Cashback Visa card for about a month now, and I’ve got to say it’s pretty awesome. 4% cashback is pretty hard to find anywhere, even for credit cards, which I'm not a fan of anyway. But it works as advertised, 4% cashback on every purchase with an easy-to-fund pre-loaded cash card.
I’ve been trying to make a lot of regular weekly purchases with the card, and then just HODL the cashback in my portfolio.
Here’s a few gotchas to watch out for:
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Make sure you’re paying with USDC, if you’re paying in any other crypto you’ll get charged a 2.5% conversion fee.
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Make sure your cashback is set to XLM so you receive the full 4%. If you’re not bullish on XLM, just swap for something else after getting the cashback.
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Don’t buy your USDC with PayPal or a debit card, use an ACH bank transfer, otherwise you’ll be hit with a 3% fee.
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Lastly, double check you have the funds in your bank account to transfer. I made an accident where I didn’t, but they credited the account anyway and later delayed all my transfers 6 days because of it. Just double check you have the funds before transferring and you’ll be fine.
If you follow those steps, you can buy your USDC without any fees and earn a full 4% back in XLM to do what you want with, which is a great way to make some extra crypto while doing your regular spending.
Cheers 🍻
