Hi there! This is my first post on Publish0x. I got involved in Crypto back in February 2021, when everyone else was FOMOing in as well. I watched my portfolio explode to nearly double in about a month, then come crashing down to -50%!  I learned a lot from that experience. Even right after the big "correction," I asked myself, "Do I believe that was the highest value crypto will ever have?" The answer was an easy "no," so I learned to HODL and DCA to bring down my average price. Finally, I'm back in the green!

After "buying the dip" as much as my bank account would allow, I looked for new ways to earn crypto while waiting for the inevitable resurgence.  One way was through faucets.  The other was through debit cards with crypto-back rewards.  I started using both the Coinbase Visa and the offering from Crypto.com.  Both have their strong points.  In this post, I will focus on the versatile, easy-to-use Conbase Visa debit card. I am a United States resident, so I’ll be writing from that perspective (the card is currently only available in the US).

Application

I got my introduction to crypto through Coinbase. Their site is easy to navigate and user friendly. Applying for the card is just as easy.  A couple of clicks on the homepage and you’re done. Wait times can reportedly be long, but I got mine in about a month.

To be eligible, you must live in the US, excluding Hawaii and complete identity verification.

How it Works

Coinbase offers many options, but clearly directs you towards a preferred way of doing things. Once you have your card, you select what crypto to use to fund it.  Remember that this is a prepaid debit card, not a charge account. You can use any crypto supported by Coinbase to fuel your card, but using anything other than USDC incurs a 2.49% transaction fee. Coinbase explains that every time you make a purchase, crypto is sold for USD, then applied to the sale. The fee is for the sale of the crypto.  However, buying and selling USDC does not carry any fee on Coinbase, so that’s easily the best way to go.

For me, buying USDC with money from my bank account is free and near-instant.  I’ve been sitting in a restaurant, got my check, added USDC to my Coinbase account right there at the table through my phone, and paid the check with my card. It’s that easy!

Rewards

Again, Coinbase offers many options. As of this writing, you can earn 4% of your total purchase dollar amount back in Stellar Lumens (XLM) or The Graph (GRT). You also could choose to receive 1% back in Bitcoin, ETH, or DOGE.  You can change your reward easily on the Coinbase site and as often as you want.  I always choose one of the 4% options because I can’t justify refusing the larger reward. If you must have BTC, why not get 4% in XLM then trade it for BTC? 

What’s the Catch?

Well, there really isn’t one.  There is no application or activation fee and no annual fee.  It’s a bit of a pain having to preload the card, but the rewards make it worth it to me.  There is a spending limit: $2,500 per day, so you can’t use the card for larger purchases. It also won't work with Venmo or other person-to-person apps.

Also, there are some restrictions on where you can use the card: 

• Security Brokers/Dealers
• Dating/Escort Services
• Massage Parlors
• Betting/Casino Gambling
• Non-FI, Money Orders
• Wires, Money Orders
• Government Owned Lotteries
• Government Licensed Online Casinos (Online Gambling)
• Government Licensed Horse/Dog Racing
• Internet gambling
• Money Services businesses
• Cryptocurrency businesses
• Firearm-related businesses (manufacturing and selling)
• Marijuana-related businesses

Is it Worth It?

In my first month, I used my card at restaurants, supermarkets and convenience stores. I also paid my exterminator and cell phone bills with the card. I even attached it to my Apple Pay! In all, I made over $50 in rewards in my first month, so I’d say Yes, it’s worth the minor hassles. 

Want to join Coinbase and try their Visa card?  Use my link and we’ll both earn $10 in BTC: Click Here!