Coinbase brings rotating rewards with their crypto card, giving a maximum of up to 4% cashback. The rewards will change every month, and this time it is either 1% ETH, 2% BTC, 2% ATOM, 4% GRT, or 4% XLM. Now, the funny story here is that Coinbase might have thought that people would choose 1% ETH over 2% BTC or 4% XLM. However, the crypto community is smart enough to know that they can swap 4% XLM for ETH and get higher rewards.
Users aren’t happy
A lot of investors started using Coinbase’s card with the goal of accumulating AMP as a reward. I am saying this because many Redditors have been complaining about the platform after the new reward cycle announcement. Some are not happy with the fact that they are going to be changing their rewards every month. So, we will have to wait and see if the rotating rewards system actually remains good for investors. Probably not!
Easy solution
If you have the coinbase crypto card and are not happy with the rewards selection, there is a simple option for you. The crypto exchange offers swapping services for free, and you can easily convert whatever rewards you choose to the cryptocurrency you like. Yes, there might be a hidden fee in the swap, but it’s not very high and is a small tradeoff you gotta deal with. Even if we consider that the hidden charges are near 1-2%, you still get high rewards based on the option you choose.
About Coinbase
Coinbase Global, Inc., also known as Coinbase, is an American corporation that runs a bitcoin trading platform. Coinbase is a dispersed corporation; all staff works remotely, and the company does not have a physical headquarters. By trading volume, it is the largest cryptocurrency exchange in the United States. Brian Armstrong and Fred Ehrsam launched the firm in 2012.
The exchange went public in 2021 with an IPO price of over $350, but it has lost more than 60% of its value in the last year. At present, the share price is at $137.32 after a 6.67% fall in the last 24 hours.
What are your thoughts as Coinbase brings rotating rewards with up to 4% cash back? And do you think this will be beneficial for the users? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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