Ethena PayEthena Pay
89
Side-by-side card comparison
Ethena Pay vs Coinbase One
Ethena Pay Card has the higher Overall Score by 33 points (89 vs 56). Ethena Pay Card also looks stronger for Cashback, Travel, Funds control, Lowest fees, and Transfers. The details below show where Coinbase One Card may still be the better personal fit.
Latest check Oct 17, 202636 official sources reviewed
Ethena Pay Card
Best fit
- USDe users combining card spending with eligible Daily Boost balances.
- Funding through USD, EUR or GBP bank transfers, or USDe, USDT and USDC.
- Standard's 4% cashback on the first $2,500 of qualifying monthly spend.
Before you choose
- Cashback is paid in AVAX, with Standard falling to 1% and then 0%.
- Daily Boost is variable and requires at least one qualifying purchase each month.
- The card uses linked collateral that can be liquidated after a shortfall.
Coinbase One Card
Best fit
- Existing Coinbase One members who already pay for an eligible plan.
- Everyday credit-card spending with 2% back in BTC on eligible purchases.
- Booking through Coinbase One Card Travel for 5% back in BTC.
Before you choose
- Eligible membership starts at $49.99/year; Basic monthly does not qualify.
- 4% needs $200,000 on Coinbase; boosted rates cover $10,000/month of spend.
- U.S. residents only, excluding territories; credit approval is required.
Fees & features
Compare the details
Best markers compare published, comparable values. Unknown values never win a row.
Best known Not disclosed
CardsEthena Pay CardOverall89Coinbase One CardOverall56
Ethena Pay CardOverall89Coinbase One CardOverall56Scores
- Overall Score
- Ethena Pay Card89Coinbase One Card56
- Cashback score
- Ethena Pay Card89Coinbase One Card40
- Travel score
- Ethena Pay Card69Coinbase One Card60
- Funds control score
- Ethena Pay Card91Coinbase One Card36
- Lowest fees score
- Ethena Pay Card87Coinbase One Card40
- Transfers score
- Ethena Pay Card98Coinbase One Card24
Costs
- Plan cost
- Ethena Pay Card$0Coinbase One Card$49.99/year
- FX fee
- Ethena Pay Card0–1%Coinbase One Card0% foreign transaction fee; Amex conversion rates remain separate
- Top-up fee
- Ethena Pay CardProvider collateral-funding fee unknown; external network gas is separateCoinbase One CardLinked U.S. bank or accepted Coinbase wallet repayment; crypto spread varies
- Card spending fee
- Ethena Pay Card0%Coinbase One CardNot disclosed
- ATM fee
- Ethena Pay Card$1 + 0.65% where ATM access is available; separate operator surcharge may applyCoinbase One CardCash advance: greater of $10 or 5%, plus variable interest from posting and possible ATM-operator fees
- Virtual card
- Ethena Pay CardUSD 0Coinbase One CardNot disclosed
- Physical card
- Ethena Pay CardNot disclosedCoinbase One CardNot disclosed
Plans
- Available plans
- Ethena Pay Card3 plans: Standard, Pro, VIPCoinbase One Card4 plans: AOC tier 1: 2%, AOC tier 2: 2.5%, AOC tier 3: 3%, AOC tier 4: 4%
- Top cashback plan
- Ethena Pay CardVIP: 5%Coinbase One CardAOC tier 4: 4%: 4%
Everyday use
- Network
- Ethena Pay CardVisaCoinbase One CardAmerican Express
- Card formats
- Ethena Pay CardVirtualCoinbase One CardVirtual, Physical
- ATM withdrawals
- Ethena Pay CardNot disclosedCoinbase One CardNot disclosed
- Mobile wallets
- Ethena Pay CardApple PayCoinbase One CardApple Pay, Google Pay
- Apps
- Ethena Pay CardiOS, WebCoinbase One CardiOS, Android, Web
- Daily spending limit
- Ethena Pay CardDynamic, based on collateral market valueCoinbase One CardPersonalized credit limit; no reusable daily spend ceiling
- Monthly spending limit
- Ethena Pay CardDynamic, based on collateral market valueCoinbase One CardPersonalized credit limit; no reusable monthly spend ceiling
- ATM limit
- Ethena Pay CardNot availableCoinbase One CardCash access and its sublimit are determined by the issuer
Funding & transfers
- Networks
- Ethena Pay CardEthereum, Polygon, Optimism, ArbitrumCoinbase One CardNot disclosed
- Crypto deposits
- Ethena Pay CardStablecoins: USDe, USDT, USDCCoinbase One CardNot disclosed
- Fiat deposits
- Ethena Pay CardBank transferCoinbase One CardNot disclosed
- Transfers
- Ethena Pay CardStablecoin transfers; Ethena Pay user transfer; Bank withdrawal, Bank transfer fundingCoinbase One CardNot disclosed
- Payout currencies
- Ethena Pay CardUSD, EUR, GBPCoinbase One CardNot disclosed
Rewards
- Base cashback
- Ethena Pay Card4%Coinbase One Card2%
- Max cashback
- Ethena Pay Card5%Coinbase One Card4%
- Reward currency
- Ethena Pay CardAVAXCoinbase One CardBitcoin
Earn
- Advertised APY
- Ethena Pay CardUp to 6% APYCoinbase One CardNot disclosed
- How it works
- Ethena Pay CardEarn on spending balanceCoinbase One CardBorrow against collateral
- Separate deposit
- Ethena Pay CardNoCoinbase One CardNo
- Use balance for spending
- Ethena Pay CardYesCoinbase One CardNo
- Lock-up
- Ethena Pay CardNoCoinbase One CardYes
Trust & availability
- Custody
- Ethena Pay CardHybrid custodyCoinbase One CardCustodial
- Control until payment
- Ethena Pay CardYou keep controlCoinbase One CardProvider controls funds
- Card issuer
- Ethena Pay CardThird NationalCoinbase One CardFirst Electronic Bank
- Card processing
- Ethena Pay CardSignify Holdings, Inc. d/b/a RainCoinbase One CardNot disclosed
- Custody / key management
- Ethena Pay CardNot disclosedCoinbase One CardCoinbase, Inc.
- Identity verification
- Ethena Pay CardSumsubCoinbase One CardNot disclosed
Sources
- Official sources
- Ethena Pay Card13Coinbase One Card23
- Last reviewed
- Ethena Pay CardOct 17, 2026Coinbase One CardOct 11, 2026
Choosing between these cards
When to choose Ethena Pay or Coinbase One
Keeping control of your funds
Ethena Pay suits spending while retaining control of your funds until payment. With Coinbase One, control passes to the provider before the purchase.
How you receive rewards
Choose by the reward asset you want to receive: Ethena Pay lists AVAX; Coinbase One lists Bitcoin. For Ethena Pay: Cashback is paid in AVAX, with Standard falling to 1% and then 0%.
Keeping recurring costs down
Ethena Pay's base plan is $0, compared with $49.99/year for Coinbase One. This favours Ethena Pay for occasional use; card issuance and transaction fees are separate.
Common questions
Ethena Pay vs Coinbase One FAQ
Is Ethena Pay or Coinbase One better overall?
Ethena Pay Card has the higher Overall Score (89 vs 56). That does not make it better for everyone: your preferred fees, rewards, way of holding funds and country availability can change the practical choice.
Which has lower fees, Ethena Pay or Coinbase One?
Ethena Pay Card has the lower starting plan cost ($0 vs $49.99/year). Compare plan, FX, card-spend, top-up and ATM charges separately because one fee does not represent the full cost.
Which has better cashback, Ethena Pay or Coinbase One?
Ethena Pay Card has the higher published base cashback rate (4% vs 2%). Maximum rates may depend on tiers, caps, categories or other conditions, so the entry rate and reward asset matter too.
How do Ethena Pay and Coinbase One differ on custody?
Ethena Pay Card uses a hybrid custody setup, while Coinbase One Card uses a custodial balance setup. Neither approach is always better, so choose the level of control you are comfortable with.
How current is this Ethena Pay vs Coinbase One comparison?
The latest information check for these two cards was October 17, 2026, using 36 official sources in total. Each full card review lists its own check date, sources and anything the provider has not clearly disclosed.