Coinbase Launches Bitcoin-Backed Credit Card for U.S. Users, Rivals Gemini’s Crypto Rewards Cards

Coinbase has launched its Coinbase One Card, now available to U.S. customers subscribed to Coinbase One for $49.99 per year, offering up to 4% cashback in bitcoin on every purchase. Announced by Max Branzburg, head of consumer and business products, the card expands access nationwide and reinforces Coinbase’s push toward a bitcoin-first identity.

The Coinbase One Card comes with no foreign transaction fees and allows users to pay their balance from a linked bank account or directly with crypto held on Coinbase. While bitcoin rewards don’t appear on 1099 tax forms, users may owe taxes when selling those rewards. The physical card carries symbolic value too—its design features raw data from the Genesis Block, the first-ever block mined by Satoshi Nakamoto in 2009, underscoring Coinbase’s homage to Bitcoin’s origins.

This move positions Coinbase against competitors like Gemini, which offers multiple crypto rewards credit cards. Gemini’s original version provides up to 3% cashback in various digital assets such as bitcoin, ether, and stablecoins, while its newly launched Solana edition gives up to 4% back in SOL for gas, EV charging, and rideshare, plus 3% on dining, 2% on groceries, and 1% on other purchases. Gemini’s cards carry no annual or foreign transaction fees and even allow auto-staking of Solana rewards, with variable staking yields.

The key distinction lies in rewards structure: Coinbase’s card offers flat-rate bitcoin cashback for those who prefer a single-asset focus, while Gemini caters to users seeking diverse crypto rewards and category-based bonuses. Both aim to integrate crypto into everyday spending, but Coinbase appeals to bitcoin purists, and Gemini attracts those seeking flexibility and higher yield opportunities.