BlockFi, a New York-based crypto lending and savings startup, launched its Bitcoin (Bitcoin) Reward credit card today. The card can be used to select approved customers on the waiting list in the United States.
The card is officially called the BlockFi Rewards Visa Signature credit card, which was first released by Visa and BlockFi at the end of last year. The card can be used anywhere Visa is accepted, allowing its recipients to earn 1.5% rebates in Bitcoin instead of airline miles or other cash back rewards. The bitcoin rewards obtained will be transferred to the cardholder’s BlockFi interest account.
Preliminary report It is said that the annual fee for this card is $200. But BlockFi made a big turn to this decision in May, launching a card with no annual fee. Cardholders are eligible to earn 2% of Bitcoin when they spend more than $50,000 annually. For example, if a customer spends $60,000 in a year, they will receive 2% of the $10,000 BTC spend.
BlockFi’s credit cards also provide familiar benefits to the crypto ecosystem, such as transaction bonuses and referral programs. The card is issued by Evolve Bank & Trust.
Terry Angelos, Visa’s senior vice president and global head of financial technology, pointed out that the crypto reward program is a compelling way to welcome users to the crypto economy, and Visa is happy to see more examples of this.
related: Institutional exchange launches encrypted debit card
Flori Marquez, co-founder of BlockFi, stated that almost everyone knows the role of cryptocurrency in reshaping the financial sector, adding: “This card will make it easier than ever for people to earn Bitcoin while shopping daily. .”
Visa is a well-known cryptocurrency explorer, aiming to expand the universal adoption of digital currencies.As Cointelegraph detailed analysis, Visa publicly affirmed its positive stance on cryptocurrency payment services, reflecting its motivation to maintain its leading position in the global payment network.