GDAX Debit Card Review - Does it work like any other card?

The tremendous upsurge of Bitcoin served as a catalyst for the development of blockchain systems and the cryptocurrency market in its entirety. Since 2020, when Bitcoin experienced an unprecedented surge in value, the industry has undergone substantial growth and expansion. As a result, trading exchanges have augmented their capabilities, providing a wider range of services to their clientele.

However, due to the vast number of transactions and organizational processes, such as mergers, acquisitions, and opening of new branches, confusion around brand identity and digital products has arisen within the industry. Nevertheless, our team is equipped with the expertise to provide clarity and assistance in navigating this complex landscape.

Inexperienced users who have just entered the world of cryptocurrencies and investments confuse the two names and their products. Initially, the company was called GDAX (Global Digital Asset Exchange), and in 2018 it was renamed Coinbase Pro. It has the same functionality but with some improved features and options.  

GDAX Debit Card Features

A debit card is a straightforward plastic card that enables you to access and control your own funds. You cannot take out loans or make installment payments with a debit card, unlike a credit card, so you can only spend the money that is in your account.

Debit cards may be used for a variety of purposes, including board games and video poker as well as for in-person and online shopping. You can manage your money and make payments without carrying cash thanks to this practical and safe method.

List of debit card features:

• Binding to Apple Pay, Google Pay;
• Settlements in shops and shopping centers;
• Online shopping;
• Transfer of funds to cards;
• Payment for services;
• Payment for games and various online services;
• Buying cryptocurrencies.

The online component remains the most important for most users because most purchases and transactions occur online. Therefore, when choosing a debit card, users must pay attention to its capabilities and bonuses (if any) when paying online.

It is essential not to forget that a GDAX card is not just a bank card; it has its characteristics. And we will now look at them in more detail so that you understand whether the card suits you.

Features and Specifications of the GDAX Card

The card has performed well among the following user groups:

1. Those who want to receive rewards in the form of cryptocurrency.
2. Those users who keep their assets as cryptocurrency on a wallet from Coinbase and do not intend to leave.
3. For those who want to use something other than credit cards and credit funds.

The site's cashback possibilities are applicable to many well-known cryptocurrency kinds simultaneously. The user will get a specific proportion of each transaction made with this kind of cryptocurrency back into his account. This is a very lucrative choice for traders and holders that are active.

• Stellar Lumens (XLM) users receive 4% cashback.
• The Graph (GRT) users receive 4% cashback.
• Bitcoin (BTC) users receive 1% cashback.
• Ethereum (ETH) users receive 1% cashback. 
• Dogecoin (DOGE) users receive 1% cashback.
• Dai users receive 1% cashback (DAI).

Additional Features

Staking is a distinctive tool that GDAX provides that might assist consumers in boosting their revenue. Users who invest in the Coinbase system may take use of this method, which works similarly to making a bank deposit.

Users who take part in the staking system can profit passively from their investments and greatly advance the development and security of the network. This is an excellent approach to support the platform's general health while making your money work for you.

For depositing their assets in the form of cryptocurrency, the user receives a decent reward from the system.

The system's use is often resorted to by holders who choose long-term cryptocurrency investments. Why should funds stand idle, passively lying on your account, if you can always receive good dividends and become involved in the development of the system and its security?

If you decide to take such a step, the most profitable cryptocurrencies for staking will be ETH, and DAI. 

Advantages and Disadvantages of Using a Card From GDAX

Being a credit card specialist, I can tell you that the aforementioned card has a special set of advantages and disadvantages resulting from its usage conditions. What you need to know is as follows:

1. It offers an up to 4% cashback scheme on the selected coin. This is a key perk for users who want to boost their revenues.
2. The card allows for swift and instantaneous bitcoin transactions, making it a fantastic option for those who place a high importance on comfort and efficiency.
3. Users may pick the currency they want to spend with ease thanks to the card's straightforward appearance.
4. Customers have greater spending options since rewards are concurrently accessible in a variety of pre-selected coins.
5. The card, which is extensively used, has no issuance or maintenance fees.

It's crucial to be aware of one potential negative even if the card offers many wonderful advantages. There is a continuous conversion cost of 2.49% when converting Bitcoin to fiat money, regardless of the quantity. In my capacity as an expert, I would advise consumers to consider this cost in relation to the card's other benefits when determining if it is the best choice for their requirements. In the end, despite this price, the card has a lot of strong features that make it a desirable option for bitcoin users.

Summarize

The functions of the Coinbase Pro debit card are covered in the article which was previously called GDAX. The card includes purchasing bitcoins, doing online shopping, earning rewards, and staking. It also discusses the benefits and drawbacks of utilizing the card.

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