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Coinbase One Card vs Ethena Pay

Ethena Pay scores higher on the G2M score: 83/100 against 62/100 (#1 and #14 of 26 cards). Pick Coinbase One Card for a lower FX fee; pick Ethena Pay for cashback, a lower annual fee, more countries and control of your funds.

Coinbase One Card62

#14 of 26 · 2% to 4% back · annual fee $49.99

Get CoinbaseRead the review
Ethena Pay83

#1 of 26 · 4% to 5% back · annual fee none

Get EthenaRead the review

The short answer

  • Ethena Pay scores higher on the G2M score: 83/100 against 62/100 (#1 and #14 of 26 cards).
  • Ethena Pay pays more cashback on its entry tier: 4% against 2%. Higher tiers go up to 4% on Coinbase One Card and 5% on Ethena Pay.
  • Ethena Pay has no annual fee; Coinbase One Card costs $49.99 a year.
  • Coinbase One Card charges less on foreign currency: a 0% FX fee against 1%.
  • Ethena Pay is confirmed in more countries: 48 against 1. Of the markets we check for every card, only Coinbase One Card is confirmed in United States, and only Ethena Pay is confirmed in UAE.
  • Coinbase One Card is custodial; Ethena Pay is self-custodial.

Want the answer for your own spending, or the next tier up of each? See what each keeps you a year or pick tiers and add a third card.

Side by side

Detail
Coinbase One Card
Ethena Pay
G2M score
62
83 (better)
Base cashback
2%
4% (better)
Max cashback
4%
5% (better)
Paid in
Not published
AVAX, daily
Annual fee
$49.99
Free (better)
FX fee
0% (better)
1%
Top-up fee
0%
0%
Per-purchase fee
None listed
None listed
ATM
Cash advance: the greater of $10 or 5%
$1 + 0.65% per withdrawal
Network
Amex
Visa
Card type
Credit
Spend
Custody
Custodial
Self-custodial
Formats
virtual, physical
virtual
Apple / Google Pay
Yes / Yes
Yes / Yes
India
No
No
UAE
No
Yes
United States
Yes
No
United Kingdom
No
No
EU / EEA
No
No
Countries
1
48
Bank account (IBAN or account number)
No
In your name
Send money to a bank account
Not confirmed
Not confirmed
Buy and sell crypto with fiat
Buy and sell
Buy and sell
Spend against crypto without selling
No
No
Yield on your balance
Not confirmed
Yes
Tiers
Coinbase One Card
Standard · Pro · VIP
Perks
—
Works on Arbitrum, Ethereum, Optimism and Polygon · 5% a year on your balance, up to $5,000, paid daily in USDe · 6% a year on your balance, up to $100,000, paid daily in USDe · 6% a year on your balance, up to $1,000,000, paid daily in USDe

Highlighted values are the better of the two. “Not published” means the issuer does not state it. Card data last checked 25 Oct 2026; see each card's review for its sources.

Questions

Which is better, Coinbase One Card or Ethena Pay?

Ethena Pay scores higher on the G2M score: 83/100 against 62/100 (#1 and #14 of 26 cards). Pick Coinbase One Card for a lower FX fee; pick Ethena Pay for cashback, a lower annual fee, more countries and control of your funds. The better card for you depends on where you live and how you spend; the G2M calculator works it out for your own spending.

Which has lower fees, Coinbase One Card or Ethena Pay?

Ethena Pay has no annual fee; Coinbase One Card costs $49.99 a year. Coinbase One Card charges less on foreign currency: a 0% FX fee against 1%.

Which pays more cashback, Coinbase One Card or Ethena Pay?

Ethena Pay pays more cashback on its entry tier: 4% against 2%. Higher tiers go up to 4% on Coinbase One Card and 5% on Ethena Pay.

Which works in more countries, Coinbase One Card or Ethena Pay?

Ethena Pay is confirmed in more countries: 48 against 1. Of the markets we check for every card, only Coinbase One Card is confirmed in United States, and only Ethena Pay is confirmed in UAE.

Who holds my funds with Coinbase One Card and Ethena Pay?

Coinbase One Card is custodial; Ethena Pay is self-custodial.

More comparisons

Scores use the same rules for every card (how the score works). Referral links never change a score or rank. Not financial advice.