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Overview

CDP Wallet API v2 is available! As we transition to v2, we will eventually phase out USDC Rewards in Wallet API v1. We encourage you to check out Wallet API v2!

Eligible developers earn 4.1% rewards on their USDC simply by holding it in their API Wallets. Currently, rewards apply to US-based individuals that maintain an average daily balance of at least 500 USDC over the course of a month. Rewards are paid in USDC the following month to the developer’s Coinbase (Retail) account.

We are working to expand USDC Rewards to additional geographies, and to businesses. If you are interested in these features, please reach out to us #wallet-api channel of the CDP Discord.

To receive USDC Rewards, you need to have had some USDC balance in your Coinbase (Retail) account in the past.

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USDC rewards details

  • USDC Rewards is a loyalty program funded by Coinbase. It’s a reward for using Coinbase services to store USDC.
  • Onchain USDC rewards are available for balances held in API Wallets on Base, Ethereum, Arbitrum, and Polygon.
  • Coinbase has no right to use any USDC in your API Wallet.
  • We reserve the right to change or discontinue USDC Rewards at any time by reasonable means of notice.
  • USDC Rewards are intended for the developer, and may not be marketed toward or used to incentivize a developer’s end-users.

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Tax reporting considerations

Tax rules and reporting rules differ from country to country. Users outside of the US should consult their tax advisor for the most up to date information. U.S. customers that are subject to US tax reporting are required to report their earnings from USDC Rewards. US customers who earn more than $600 in USDC rewards will receive a 1099-MISC from Coinbase. You can learn more about the 1099-MISC on the IRS official website.

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Video: Watch and learn

Watch the video to learn how to earn USDC rewards, which covers:

After you hold a balance of at least 500 USDC in your wallet for one month, you will receive your rewards the following month in your Coinbase (Retail) account.