Splurging for guac: Coinbase teases millennials with 1% Bitcoin rewards
Coinbase announced Tuesday that its crypto debit card is now compatible with both Apple and Google Pay apps, and will soon offer Bitcoin rewards to certain customers.
The Delaware-headquartered crypto exchange said it will begin the crypto rebates this week to selected customers who join its waiting list, currently available across the US (except Hawaii).
In a press release, the top US crypto exchange noted Coinbase Card holders can earn up to 4% rewards on purchases made through Apple and Google Pay.
However, much like PayPal, Coinbase automatically converts any crypto spent to US dollars. This removes the need for merchants and ATMs to handle digital assets.
In any case, Coinbase opted to market its waiting list specifically to avocado-hungry millennials — perpetuating the meme beloved by boomers worldwide to belittle the plight of post-WW2 generations to own their own homes.
“Splurging for guacamole with your Coinbase Card is a no-brainer when you can earn 1% back in Bitcoin or 4% back in Stellar Lumens,” said Coinbase.
Crypto exchanges push Bitcoin rewards
As Protos previously reported, MacRumors first discovered evidence that the Coinbase Card — powered by Visa — would soon support Apple and Google Pay in the platform’s app code.
Coinbase had added an image asset named “CardGoogleApplePay.”
But Coinbase isn’t the only crypto exchange looking to offer Bitcoin rewards via a debit or credit card.
[Read more: Coinbase is hunting top editorial talent — for journalism or marketing?]
The Winklevoss twins’ Gemini is working with the other payments giant Mastercard on a card expected to pay 3% rewards in Bitcoin and other cryptocurrencies.
Also, New Jersey-based crypto lender BlockFi launched a waitlist for its Bitcoin credit card last December. It’s pegged to give a 1.5% Bitcoin rebate on every purchase after an introductory 3.5% rate runs out.
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