Selected customers who are already on the waitlist will be invited to start using the service while earning crypto rebates, providing new opportunities for the use of their crypto holding in everyday situations.
The rebate feature will provide users with up to 4% back in crypto rewards when paying using their Coinbase card with Apple pay or Google Pay, a reward that will surely incentivize users to join the 29% of users who are using mobile phone payments in the United States.
The announcement also states that users “can earn 1% back in Bitcoin or 4% back in Stellar Lumens”, which is the latest feature added to the card by Coinbase since its launch in 2020.
Multiple crypto platforms like Binance, Crypto.com, and BlockFi have been stepping up their efforts to promote their own crypto cards as the industry pushes the use of cryptocurrency on retail transactions, boosting the mass adoption of crypto as more than an investment opportunity
Coinbase Pro Lists Dogecoin After Teasing Users
Coinbase Pro announced on June 1st that users are now able to transfer their Dogecoin (DOGE) holdings to their Coinbase Pro accounts ahead of the start of the Trading on June 3rd at 9 AM pacific time.
According to the announcement, the DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT, order books will be launched once there is a sufficient supply of DOGE in the platform, with the process taking place in three phases: post-only, limit-only, and full trading.
Coinbase CEO, Brian Armstrong, had already teased users back on May 15th by saying that the exchange planned to list DOGE in the next six to eight weeks.
Dogecoin has been one of the most popular cryptocurrencies over the past months as big personalities and the internet community have railed behind the coin, which started as a joke, causing its value to increase by 13533.0% over the past year according to CoinGecko data.
The value of the cryptocurrency reacted to the news by raising by about 13%, allowing the cryptocurrency to occupy 6th place by market capitalization with a $47 billion market cap.
Coinbase Plans to Also Act as a Media Company
Armstrong recently shared via an official blog post his belief that “every tech company should go directly to their audience, and become a media company”, a belief that will signify a change in the way the company approaches its users from an educational standpoint.
The blog post announced the launch of a blog section called “Fact Check” in which the company will focus on combating “misinformation and mischaracterizations about Coinbase or crypto being shared in the world.”
While the articles posted by the company so far are reactive in nature, Armstrong stated that the company will be transitioning to a more proactive approach as time goes on in an attempt to educate users on the different elements of the cryptoeconomy.
The company is also planning to move beyond fact-checking by creating original content that highlights the latest events in the world of crypto through the use of podcasts, YouTube, blogs, Twitter, and other channels that make use of blockchain technology such as Bitclout.
While cryptocurrency has been getting a major place in traditional news outlets as it gains popularity, the information provided by these outlets can be biassed due to financial interests and lack of knowledge when it comes to the industry and underlying technologies.
Make no mistake – despite lower prices, cryptos are hitting it at all levels. Look out for the next bull.
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