Share this article
Crypto lending firm BlockFi announced that it would launch a Bitcoin rewards credit card in January 2021.
BlockFi’s Bitcoin Visa Card
The credit card will allow users to earn back 1.5% on all card purchases in Bitcoin.
“For every transaction that you make on the card, 1.5% cash back will accrue and then automatically be converted to bitcoin and placed into your BlockFi account on a regular monthly cycle,” the firm said in the press release.
According to BlockFi, this is the very first credit card in the entire crypto ecosystem. Other cards like Fold, Crypto.com, BitPay, and several others offer a similar service. These alternatives are typically prepaid or debit, however.
The firm further stated that the card would help create more Bitcoin owners and bridge the gap between traditional finance and the crypto industry.
BlockFi has partnered with Visa, Evolve Bank, and Deserve to help in the card launch.
The card will have an annual fee of $200 and be made available initially to U.S.-based customers.
Disclosure: Crypto.com is a Crypto Briefing sponsor.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article