Coinbase is opening up its bitcoin rewards card to the hundreds of thousands of Americans on its waitlist.
Offered to Coinbase One subscription members in the US, the American Express card is being rolled out through a partnership with fintech Cardless and issued by First Electronic Bank.
The more assets a cardholder holds on Coinbase, the more bitcoin they earn. Everyone starts at two per cent ad can earn up to four per cent back on every purchase.
Early users have made over $100 million in purchases since the waitlist opened, spending about $3000 per month on average. The firm says that users are engaging with Coinbase more deeply since signing up for a card, too, depositing over $200 million more assets on the platform.
In addition to earning bitcoin on purchases, users can secure benefits through the AmEx Network, including access to unique experiences, offers, and protections.