Gemini is launching a credit card with bitcoin rewards – ProWellTech
Cryptocurrency exchange company Gemini acquires Blockrize and today announces a new product based on the work of Blockrize. By the end of the year, the company will launch a credit card that works like a regular credit card, but you earn bitcoin rewards based on your purchases.
The credit card will work on the Visa network and will be available in the U.S. Customers will earn up to 3% in bitcoin rewards (again, until 3%). You will be able to earn other crypto assets as well. These rewards will be deposited into your Gemini account.
This isn’t the first time a company has announced a credit card with bitcoin rewards. BlockFi has already announced its card in December. Both companies have yet to launch their cards.
By way of comparison, BlockFi promises premiums of 1.5% on fiat purchases. There is an annual fee of $ 200 but you get $ 250 back if you spend at least $ 3,000 with the card in the first three months.
This new category of credit cards could be interesting for people who want to slowly acquire cryptocurrencies without going through an exchange. Similarly, some cryptocurrency enthusiasts don’t want to use a debit card tied to a cryptocurrency wallet because they don’t want to spend their crypto assets – HODL, as they say.
You might consider those credit cards as an alternative to credit cards that give you a refund. Of course, you don’t get points that you can exchange for benefits. But you get crypto assets without having to think about it.
Gemini customers can join the waiting list today. Blockrize has been working on a credit card for some time. Even though it is now part of Gemini, people who previously signed up on the Blockrize waiting list are still on the waiting list.