TL;DR
- You can buy Coinbase gift cards through well-known online platforms like G2A, CoinsBee, and Eneba. There is also the option of purchasing these gift cards through Physical Retailers.
- Each Coinbase gift card has a designated value of $25 – $250. Once a user redeems it, they gain the flexibility of exchanging it for any cryptocurrency on the Coinbase platform
The U.S. gift card market was valued at $162 billion in 2022. With one in ten Americans gifting crypto during the holidays, it’s clear that Crypto gift cards are a growing trend.
This article provides a complete guide on how to buy Coinbase gift cards, covering their benefits, limitations, and how to redeem them.
What is A Coinbase Gift Card?
A Coinbase gift card serves as a pre-paid digital voucher for various cryptocurrencies on the Coinbase exchange.
It enables buyers to invest in cryptocurrencies without the hassle of managing private keys or setting up a wallet. They receive the card with preloaded funds, ready to be used for purchasing cryptocurrencies.
These funds become accessible once the user has redeemed them through Coinbase. This service is currently only available to U.S.-based customers.
Where To Buy Coinbase Gift Cards?
Here are some of the main online marketplaces to buy gift cards from Coinbase:
1. G2A
G2A is a well-known online marketplace where you can purchase a range of digital products, including gift cards, software keys, and video games.
Coinbase gift cards purchased on the platform start for a total value of $25 up to $250.
What makes the platform unique is that there is a range of payment methods for buyers, including Skrill, and Google Pay, as well as digital currencies such as Bitcoin.
2. CoinsBee
CoinsBee specializes in buying gift cards utilizing cryptocurrencies such as Bitcoin and Ethereum. Additionally, users can purchase Coinbase gift cards beyond the major cryptocurrencies such as Litecoin, Solana, and Dogecoin as a secondary payment method.
They are focused on integrating crypto into the everyday consumer experience, facilitating the purchase of common gift cards from Amazon, iTunes, and PlayStation.
3. Eneba
Eneba is an online marketplace where customers can buy gift cards, top-up their mobile, and game keys. The platform is highly focused on gaming, which is why they have 12 genres of games alone.
The platform currently offers Coinbase gift cards worth $25, $50 and $100. Furthermore, users can use a credit/debit card and PayPal to purchase them.
For users who want to buy a Binance gift card instead, Eneba offers many options. For example, a Binance gift card with a $100 gift card value currently costs $106 on the platform.
Alternative Way To Buy Gift Cards
It is also possible to take the gift card service through physical retailers. They can be found in department stores, electronic stores, as well as convenience stores.
One advantage to buying a Coinbase gift card from a physical retailer is that the gift might have a tangible feeling by packaging it when given to your loved ones rather than sending it to them digitally.
How To Redeem Your Coinbase Gift Card
After you have received the Coinbase gift card, follow the steps below:
- Go to the Coinbase app or website and click the [Create Free Account] button
2. Fill in all the Sign up details
3. Go to your profile icon and select the Settings tab on the top left
4. Click the Settings tab
5. Click [Add a new payment method], then [Gift card]
6. Enter the gift card number and PIN received to redeem the Coinbase gift card
Voila! There you have it.
Benefits Of Coinbase Gift Cards
Though there are different crypto gift cards available in the market, the one from Coinbase stand out because of the following benefits:
- Convenience: Those who redeem the gift cards don’t need to go through the technicalities, making it very user-friendly for beginners to start their crypto journey.
- Unique Gifting Opportunities: The high potential for profit and growth of the asset offers a lot of excitement to those who receive it as a gift.
- Security: With over 100 million users, Coinbase is one of the most trustable cryptocurrency exchanges. They have also set strict rules to handle stolen gift card codes and transparency on their data collection practices, which can be viewed in the Coinbase privacy policy.
Cons Of Coinbase Gift Cards
Though there are clear benefits to Coinbase gift cards, there are some downsides too:
- Paying a Premium: Customers need to pay a premium beyond the actual value of the gift card. For instance, a $25 Coinbase gift card can cost up to $28.5.
- Limited to Coinbase Ecosystem: It is limited to the Coinbase platform and its ecosystem only without the option of transferring these to another wallet.
- Non-Refundable: Once these gift cards are purchased, and the unique code is redeemed, the card is non-refundable.
What’s An Alternative To Coinbase Gift Cards?
It’s possible to use the Coinbase website to send crypto gifts directly, as Coinbase has a “Send a Gift” option on its website.
It’s important to note that the recipient will have to create a Coinbase account and go through the verification process to receive these digital assets.
Currently, Coinbase doesn’t offer physical gift cards with a focus on digital gift cards with a unique code.
Sadly, there isn’t a clear procedure to recover a misplaced Coinbase gift card code if the recipient loses their code.
G2A and CoinsBee offer the feature of buying them from cryptocurrency.
It’s possible to print the unique code and package it into an envelope with a personal message.
They are only available to U.S. based users except in Hawaii.
