Gemini Offering Cryptocurrency Reward Credit Card

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In Brief
  • Gemini has acquired Blockrize to offer a credit card with cryptocurrency-based 'cash back' rewards.

  • This will be the second crypto reward credit card after Blockfi announced its partnership with Visa.

  • The card will be available for users in every state of the USA.

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Gemini, one of the largest and most established cryptocurrency exchanges and custodians in America, has stated that it will soon be offering credit cards to its platform’s users. Users of the card will even be able to receive cryptocurrency rewards as a ‘cashback’ mechanism.

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This new offering has been made possible with the help of Gemini’s recent acquisition of Blockrize — its second addition after purchasing Nifty Gateways in 2019.

Blockrize is a start-up focused on creating credit cards with cryptocurrency-based rewards.

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Gemini Card Waitlist Is Open

Gemini has officially opened the waitlist for users to sign up for the new card, allowing those previously registered with Blockrize to apply for early access.

This card will allow users to earn cryptocurrency without having to explicitly buy it. This could be the perfect option for those who do not want to invest their excess capital into the volatile asset class.

This new collaboration powered by Blockrize will allow users to earn up to three percent in Bitcoin or other cryptocurrencies for every purchase they make with their Gemini card.

Gemini’s credit card offering comes on the heels of BlockFi announcing that it would be launching its own Visa credit card in the coming months.

A Simple and Safe Way to Earn Crypto

Tyler Winklevoss, Bitcoin billionaire and the CEO of Gemini commented on the newest offering,

“The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior. Rather than deciding how and when to buy crypto, customers can do so when making their everyday purchases. We’re excited to welcome the Blockrize team to Gemini and work together to continue to mainstream crypto.”

There are already over 10,000 users in line for the card that have been migrated from Blockrize’s previous waitlist.

This newest acquisition will allow a plethora of users to be able to easily earn Bitcoin, a factor that could more easily lead to mainstream adoption. There are many who are interested in Bitcoin but are still skeptical and do not want to allocate funds to invest in it.

This new method of earning cryptocurrencies is a safe and easy way for users to get involved with digital assets with no potential monetary downside. Since the cryptocurrency will be rewarded as a spending incentive, all users will have to do is register to Gemini and start earning.

The Gemini Credit Card will be available to citizens of all 50 states in the USA.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Harrison is an analyst, reporter, and lead specialist at BeInCrypto based out of Tel Aviv, Israel. Harrison has been involved in the cryptocurrency space since late 2016 and is passionate about decentralized ledger technology and its potential.

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