By - PAlove
The Coinbase card kind of died for me when it went to 2%. Mind as well just use a regular cash back card at that point.
Although, a bear market is the best time you can use it. More crypto required to attain the 2% cashback rate, and then that crypto should increase in value during the bull.
Valid point. I guess it's just getting over the idea of how much you are getting back at first and more what it could be worth in the future. I'm not really comfortable with AMP though in a bear market
Here’s an example: stack btc cash back now at 1.5% (~20k per coin), it goes up to 60k again, that’s 3x your 1.5% which is 4.5% cash back. Now if it goes to 100k, that would be 7.5% cash back in btc. Not bad.
I too stopped using my Coinbase card. Whenever my 4% XLM rewards expired and I was forced to go to a 2% option, I havent used it since. I have credit cards that offer 3% cashback so... buh-bye Coinbase.
Me too. I stopped using mine as soon as they announced that annoying rotating rewards selection thing and haven't gone back. I was doing almost all of my spending through it before that. Bad move, Coinbase.
The only benefit I think now is using it as a cash back for certain items that won’t accept credit card. Like some utilities, rent, credit card payments, ect.
It died for me after tax season hit and every card swipe was recorded in my tax software that charges me based on how many transactions I have
Shakepay in Canada! Let’s you shake your phone once a day, earning sats. Starts a streak at 100 sats, getting to a max of 1000 sats per day by day 200
They have a prepaid Visa card that earns 2% Bitcoin cash back, chance to get #shakepaid for your entire purchase! Also just came out with ShakeSquads, where you can have a squad of 4 people where whenever someone uses the card, everyone in the squad gets 42 sats just for being in the squad.
It’s fun I love it!
Can't forget the swag they send you when you reach the 1 year streak for shaking. Although, you have to contact them to receive it.
There's also weekly contest on Reddit, Twitter, and Discord. I've gotten the Reddit one 3 or 4 times now and that's between $40-50 each time.
Man I’ve been waiting on my swag for a few months now!
Had no luck in the Reddit contests though 😩
Sam's Club credit card gives me 5% back on gas
That's pretty rock solid with these gas prices 👀
And prices are probably only going higher.
**Gemini credit card.** Instant crypto-back rewards at 3% for restaurants, 2% for groceries (includes Target and Walmart). Their app is really good. You can see the transaction info and how much you earned in minutes. They're almost certainly not making money on this; it's to attract more customers.
I hate debit cards (Coinbase, CDC) since each transaction is a taxable event, which is painful when doing taxes.
I top up my CDC card once every other month so it's only 6 taxable events a year. Not really too bad. Having it auto withdraw on every transaction would be a nightmare.
That may be the case for CDC since it converts to fiat at the time you top it up. But for Coinbase that holds the crypto until you spend it it definitely hoses you for taxes.
How would that even work? Taxes on what?
Well you hold it in the form of USDC and they sell it for every purchase so it’s technically a taxable event every time you make a purchase with it. It isn’t like CDC where you have to preload it in fiat.
But what taxes do you owe on that? There's no gain.
You earn a small yield on usdc held on Coinbase so it isn’t always 0 taxable.
Why hold it in USDC? I just load up in fiat and pay in fiat. No tax to worry about.
You can’t do that with the Coinbase card which is what I am talking about.
I strictly add USD and spend USD with CB card
I do that all the time with Coinbase card. That is why I said it.
Yep I just checked and I must be an idiot. Sorry for wasting everyone’s time.
How does it work with Target and Walmart? How can they tell if you are buying groceries or a TV? Curious because all of the other rewards cards I've had always exclude Target and Walmart from groceries category.
The whole store purchase gets 2% CB.
I've also noticed that my HSA card allows the whole purchase too. I called my insurance provider, and they said they don't care.
Thanks, that's good info. Another plus for Gemini card since I do 99% of my shopping at Walmart and Target
Brave browser rewards \[BATs\].
I can see great potential in taking a piece of a Google ads pie.
I use the Gemini credit card. Up to 3% BTC back and looks amazing 😍
3%?! I was using Coinbase for XLM 4% but now that is gone I switched to 1% BTC. I may have to jump on this Gemini card
NSA card would be ideal - but I like the tiered options too.
Of course, sustainability needs to be real as well.
I do wish CDC kept their no stake required Midnight blue card, offering atleast 0.5% CRO back to users - its an entry point into crypto rewards with no risk.
Something that would be exciting as well would be card holders being eligible for airdrops from the exchange, whether its $1 worth of new tokens getting listed, or cheap NFT worth a few cents that says "Happy Birthday" or "2 year Cryptoversary".
No strings attached cash back. Keeps it simple for me. I find the more creative the issuer gets with rewards, the less actual fiat-value there are in the rewards
Using a regular cash back cards then converting the cash over to crypto. I have had more luck with these than crypto back
Bank of America Cash+ for 5.25% on dining (starts at 3%). USB Cash card for 5% on streaming and utilities, Discover and chase have 5% with rotating categories... no annual fees
I have my 6 figure profit i made from this bull run (havent cashed out because i don't need it rn, and dont want to pay taxes on realized gains) and just collecting interest by lending @ ftx
I know, "aint your keys, aint your money" but I trust FTX and SBF, seems like a waste just sitting in my ledger collecting dust.
its giving me \~2% per year at the very least, sometimes 10% when crypto is bullish. It's quite significant. And I'm withdrawing to my coinbase card (less than $1k a month, being conservative so it doesn't get flagged for Anti-money laundering) to treat myself from time to time.
I use Gemini. It's a regular credit card that pays rewards in crypto. 3% dining, 2% groceries and 1% on everything else and you get a metal credit card. The only downside is they don't allow you to add anyone to your account. With other credit cards I have my wife added so she gets a card with her name but it's on the same account but Gemini would require he to open her own separate account to get a card which defeats the purpose for me since I pay all the bills.
cant find a way to top up coinbase card with out paying fees, useless. CDC is the best option by far
Usa or overseas? For me, I pay zero in fees for
Topping up the card
im from UK, how do you top up the card?
I use Netcoins Card here in Canada to purchase things like coffee or pizza and then 3% back of BTC. Mostly I use this every day because I am working from home now, so It's useful.
If you're in Canada, netcoins has an awesome and simple Visa with cashback paid in BTC.
No minimums and you don't even need to buy Crypto, just spend with their (prepaid) visa.
The only good crypto card would be a pre-paid one with 0 KYC, anything else is just a scheme to let banks and payment processors slobber on your tokens.
Fuck a cashback unless it's on FIAT already.
I'm into being able to even spend at first :')
Although Coinbase is only giving 2% now, I still enjoy the cash back because it’s simple
0% APR credit card with sign on bonus + cash back.
1.5 year interest free loan with what amounts to anywhere from 4-7% back (compared to credit limit, factoring initial bonus).
Make minimum payments. Take the fiat you have and invest in something safe (like TIPS), cash out and pay off loan before the promo runs out ... even more cash back (effectively).
Easily 10% ROI, 15% if you get good bonus/categories/investment vs. inflation, more if you want to get a little risky and go crypto with a stable/X LP.
Rinse & repeat. FAR superior to any "crypto back" debit card.
Takes discipline though ... something a lot of folks (especially in crypto) struggle with.
Of course the big ballers here will disagree, but been doing this for 15+ years now and can't stop won't stop.
Possibly stupid question but can UK residents use binance cards yet?
My standard credit card gives me points I can use to buy products on discount. Bit like airmiles. So i am not so excited by a 2% (max) crypto card
One that doesn’t betray you
I'm all about getting the best base cashback rate, as I don't want to hold a big bag of tokens that might lose value to get a better cashback. I'm using Plutus, as it's got a 3% base reward rate, which makes it the best option available in the EU.
If anyone wants to compare their options, you could use [this comparison table](https://extracrypto.cc/crypto-cards/all-crypto-cards/) to compare 13 different cards that give a crypto cashback.
The CDC clowns can go fook themselves, as far as I'm concerned.
I have no desire to get a crypto debit card. My taxes are already complicated enough.
OP: “As the market recovers that % cash back will begin to multiply. 1% could now become 5% down the line”
Ummm no. You just made that up 😂
I buy a product for $100. I get 1% BTC cashback, so $1 in BTC is deposited into my account. Bitcoin rallies 100% in the future. That $1 is now worth $2. The cashback on the original purchase now turned out to be 2% if I realize profits.
Netcoins Visa card. You can earn 1% cash back on all purchases. This cashback is paid in CAD and is converted to bitcoin on a set date each month.
For the first 3 months of card ownership, you will earn 3% cashback.
Netcoins pay, for the first 3 months you can get 3% BTC cashback