Coinbase Card review
- Card cost
- £4.95
Review
The Coinbase Card is a Visa debit card you can order from Coinbase UK for customers in the UK and EU. With it you can use ATMs and make payments anywhere Visa cards are accepted.
If you have an account at the Coinbase cryptocurrency exchange, the Coinbase Card lets you spend funds in your Coinbase account, meaning you can spend the cryptocurrency in your Coinbase account like you spend your other money.
You'll need to download the Coinbase Card app for iOS or Android to use your card.
Coinbase is authorised as an e-money firm by the UK regulator, the Financial Conduct Authority (FCA). But its crypto exchange isn't operated from the UK and isn't on the FCA's register of crypto firms which have passed its anti-money laundering checks.
Pros
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Link the card to your Coinbase account and activate it, then you’re good to go.
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The card is accepted anywhere a standard Visa debit card is.
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It’s just like a standard debit card, except for crypto. You can even tap and go with it.
Cons
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High fees, ranging from 2.49–5.29% per transfer.
Details
Card overview
| Name | Coinbase Card |
| Card cost | £4.95 |
| International Fee | 0.2-3% |
| Loading Fee | None |
| Maintenance Fee | None |
| App available? | Yes |
| Physical Card? | Yes |
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
What’s it like to use the Coinbase Card?
1. Getting started
You can download the Coinbase Card app on iOS or Android.
2. Using the physical card
Use your physical Coinbase Card at ATMs and where Visa cards are accepted.
Which currencies does the Coinbase Card support?
You can spend the cryptocurrencies loaded on your Coinbase account’s wallet.
Fiat currencies and cryptocurrencies Coinbase supports
- Supported fiat currencies: USD, EUR, GBP
- Supported cryptocurrencies: Approximately 256 cryptocurrencies
How can I fund my Coinbase Card?
You can deposit funds onto your Coinbase account. Coinbase accepts the following payment methods:
- Bank transfer (ACH)
- Credit card
- Debit card
- PayPal
- Wire transfer
Coinbase Card fees and limits
There’s no card issuing fee for your physcial Coinbase card and there are no transaction fees when spending your default cash currency, USDC or any supported cryptocurrencies.
However, Coinbase does include a spread in the price to buy or sell cryptocurrencies, and this can be quite costly.
Coinbase Card ATM fees
A 1.5% fee applies to ATM transactions. You may also find that you’re charged fees by the ATM operator.
Frequently asked questions
Coinbase Card troubleshooting
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