A guide to the Coinbase debit card

A guide to the Coinbase debit card

Forced savings plans are one of the best tools you can use to grow your wealth.

There are many ways to do this through different financial services but this article will show you one way you can turn 4% of your grocery shopping, or any transaction for that matter, into cryptocurrency.

It’s called the Coinbase debit card.

The Coinbase debit card allows you to spend crypto at nearly every business. Basically the card transforms your Coinbase account into something akin to a traditional checking account. This means you can spend any cryptocurrency in your account effortlessly as it is automatically converted into dollars when used for a purchase.

The Coinbase card offers up to 4% back in certain cryptocurrencies which is a generous rate that beats many other cards on the market which typically offer 1-2% back on general purchases. You can read our analysis on whether cashback is halal here

Your cashback rewards from your Coinbase card are automatically invested into the cryptos you choose.

Since it is a debit card, you are not borrowing money, so you do not risk going into riba-based debt.

There is no need for a credit check either. 

Keep in mind that since it is not a credit card you are unable to build credit and it lacks some of the consumer protection features that many credit cards have.


There are no annual fees or minimum balances but the biggest setback is the 2.49% liquidation fee per transaction on most cryptocurrencies.

Thankfully, this does not include USDC coin which is pegged to the value of the US Dollar.

There are no fees associated with purchasing or selling USDC on Coinbase’s platform. Meaning the card is completely free to use as long as you are making purchases with USDC.


Coinbase has two-factor authentication and the ability to lock the card up instantly from the app.

All transactions are encrypted with 256-bit encryption.


  • Near-instant transactions
  • Up to 4% back in crypto
  • Ability to seamlessly change currency being spent
  • No credit checks or borrowing required
  • No transaction fees if using USDC
  • Easy to use mobile interface
  • Available on both Apple Pay and Google pay

How to Use

Now that you have seen what the card is capable of, how do we use it?

First, you need a Coinbase account, If you don’t already have one, you can support PIF by using this affiliate link to sign up. If you use the link to sign up and buy $100 worth of bitcoin then you will receive an extra $10 free.   

Once you have your account set up and ready to go, head over to Coinbase/card, it should look like the image below. Just click “Join the waitlist” 

The approval process typically takes about two weeks, but once you are approved you can immediately spend with Apple or Google pay while you wait for the physical card to ship over to you. 

To get 4% cashback select XLM or any of the other currencies under the “Choose a crypto reward” section seen below. Keep in mind you should only select a currency that is halal to invest in

Once a transaction is approved you will receive your cashback in the currency you have chosen.

You can later convert it to any cryptocurrency you like.

You can also load some USDC into the account by clicking the “Add funds” button. Select “One-time transaction” or have it recur on a schedule.

Now your card is set up and ready to go.

Mabrook. You can now use your card anywhere that accepts Visa and get 4% cashback.

Since September 2021 I have been using this card for my day-to-day purchases and have earned over $125 in crypto rewards which I have reinvested in bitcoin and other projects. 

Subscribe to get our “Intro to Halal-Conscious Investing” and much more for FREE!

Enter your email address to subscribe:*