Coinbase debit card coded as a debit card on Plastiq which meant you were only getting charged 1% fee. Since Coinbase card pays 4% cashback in the form of crypto, this meant an effective 3% profit on Plastiq payment.
Use this link to get $10 in Bitcoin (BTC) when you buy or sell $100 or more in crypto
You can even buy/sell stable coin, like USDC, which are supposed to be 1:1 with USD.
This play was very subtly shown in a screenshot I shared in my “Coinbase 4% Debit Card is a must have” post. But realizing the play required reading the post very carefully. And then you still had to get waitlisted to get the card. This also has been a point of discussion for quite in while on TiP crypto chatroom.
I know some people are still going to hit this heavy for ~1% profit but you may get shutdown by Coinbase.
Closing Thoughts
How am I so sure that this play is dead? Well, another crypto debit card (don’t ask which one) used to code as a debit card as well, but it doesn’t code as debit anymore. Plus, debit card from big banks with physical location (I tried Chase) continue to be hit with only 1% fee.
Hat Tip: MJ
