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Gemini launches credit card with Bitcoin rewards – TechCrunch

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Cryptocurrency exchange company Gemini acquires Blockrize and today announce a new product based on the work of Blockrizes. Later this year, the company is launching 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 also be able to earn other crypto assets. 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 own card back in december. The two companies have yet to launch their cards.

For comparison, BlockFi promises 1.5% rewards 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 of interest to people who want to slowly acquire cryptocurrencies without going through an exchange. Likewise, some crypto enthusiasts don’t want to use a debit card linked to a cryptocurrency wallet because they don’t want to spend their HODL crypto assets as they say.

You can think of these credit cards as an alternative to credit cards that give you cash back. Of course, you don’t get points that you can redeem for perks. But you get crypto assets without having to think about it.

Gemini customers can sign up for the waiting list today. Blockrize has been working on a credit card for some time. Although he is now part of Gemini, people who have already signed up to the Blockrizes waitlist are still on the waitlist.

Image credits: Gemini

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