Direct Deposit to Coinbase: Get Paid in Crypto

Coinbase Expands Services with New Feature Rollout

Coinbase, a leading cryptocurrency platform, is introducing several new functionalities. While widely recognized for its cryptocurrency exchange services – facilitating the conversion between USD and various digital currencies – Coinbase aims to broaden its consumer offerings. The goal is to establish the platform as a comprehensive financial services hub.

Direct Deposit Functionality

A key addition is the upcoming launch of direct deposit within the U.S. This will enable customers to allocate a portion of their salary directly into their Coinbase accounts. Users of the Coinbase application can locate their payroll provider or employer and adjust their paycheck distribution accordingly.

Some users may opt to deposit their entire paycheck into Coinbase. Once funds are received, users have control over how their dollars are utilized.

Managing Funds Within Coinbase

Account holders can choose to maintain their funds in USD or automatically convert them into a cryptocurrency of their choice. This feature is particularly beneficial for establishing automated, recurring purchases without manual intervention.

Users have access to all crypto assets listed on the platform for conversion.

Coinbase Debit Card and Transaction Options

Direct deposit is further enhanced by Coinbase’s debit card, powered by Marqeta. This Visa debit card is compatible with both Apple Pay and Google Pay, streamlining the process of moving funds into and out of Coinbase.

Within the Coinbase app, users can designate the source wallet for their card transactions. When making purchases, crypto assets are converted to USD, incurring a 2.49% transaction fee. However, transactions utilizing USDC are exempt from this fee.

Rewards Program for Card Transactions

Card transactions are eligible for rewards. Currently, users can earn 1% back in DAI, ETH, DOGE, or BTC. Higher rewards of 4% are available on purchases made with GRT, XLM, AMP, or RLY. This provides a partial offset to the transaction fees.

Spending USD Directly

Users now have the option to spend USD directly from their Coinbase account. This eliminates transaction fees associated with card purchases. The Coinbase Card has been undergoing testing and will be available to all users starting next month.

App Interface Updates

Coinbase is already a significant financial application for a large number of U.S. residents. Leveraging this established user base, the company is introducing new services to encourage increased platform usage.

The mobile app will also undergo a redesign, featuring four new tabs: “Assets”, “Trade”, “Pay”, and “For You”. This shift could potentially lead users to rely more on the Coinbase app and less on traditional banking applications.