Coinbase One Card
First Electronic Bank · Amex
The clear second choice, and it works the same way: an American Express credit line issued by a real bank (First Electronic Bank), paying 2% to 4% back in Bitcoin with no proprietary token to lock up. No crypto is sold at the till, so there is no hidden conversion spread.
About Coinbase One
The Coinbase One Card works the same way as the category leader and finishes just behind it: an American Express credit line issued by First Electronic Bank, paying 2% to 4% back in Bitcoin with no token to stake and no lock-up. It is bundled with a Coinbase One subscription, which is where the arithmetic differs from Gemini's — the reward rate has to be weighed against a monthly fee you are paying whether you use the card heavily or not. For someone already subscribed for the trading benefits, the card is close to free upside; for someone subscribing because of the card, do the maths on your actual spending first.
Our verdict
The clear second choice, and it works the same way: an American Express credit line issued by a real bank (First Electronic Bank), paying 2% to 4% back in Bitcoin with no proprietary token to lock up. No crypto is sold at the till, so there is no hidden conversion spread.
The 4% tier scales with your "assets on Coinbase" — so while there is no captive card-token to buy, Coinbase does want you holding crypto with them, which is a real (if self-chosen) market and custody exposure. And it requires an active Coinbase One membership, from $49.99 a year, which you net against the rewards: still positive, +$430 to +$910 depending on tier and spend.
Strengths & trade-offs
What works
The clear second choice, and it works the same way: an American Express credit line issued by a real bank (First Electronic Bank), paying 2% to 4% back in Bitcoin with no proprietary token to lock up. No crypto is sold at the till, so there is no hidden conversion spread.
Where it loses points
The 4% tier scales with your "assets on Coinbase" — so while there is no captive card-token to buy, Coinbase does want you holding crypto with them, which is a real (if self-chosen) market and custody exposure. And it requires an active Coinbase One membership, from $49.99 a year, which you net against the rewards: still positive, +$430 to +$910 depending on tier and spend.
Evidence
- net on $24k/yr
- ≈ +$430 to +$910 COMPUTED
Coinbase One Card FAQ
Is the Coinbase One Card worth the subscription?
+
It depends on your spending. The rewards are genuine and there is no token staking, but they arrive on top of a monthly subscription — so the effective rate is the cashback minus the fee spread across what you actually spend. If you already subscribe for the trading benefits, the card is close to free upside. If you would subscribe for the card alone, calculate it against your real monthly spend.
Anyone who does not already keep assets at Coinbase, since the top rate is gated on that balance.
The rest of the crypto cards ranking
Same criteria, same weights, same measurement run — this is what Coinbase One Card is being compared against.