Coinbase One Card is available to users in the United States, offering Bitcoin rewards

According to ChainCatcher news reported by Decrypt, Coinbase is canceling the waitlist for its Coinbase One Card, opening applications to hundreds of thousands of Americans who had previously registered interest in the card.

The Coinbase One Card is launched in partnership with American Express and offers users up to 4% Bitcoin rewards based on the amount of cryptocurrency they hold on the exchange. All cardholders initially receive 2% Bitcoin cashback, but by depositing more cryptocurrency on the platform, the cashback rate can be increased to a maximum of 4%.

The company stated that early cardholders have deposited over $200 million on the platform to increase their rewards. So far, cardholders have spent over $100 million, with an average monthly spending of $3,000.