Gemini launching credit card bitcoin

It works with Apple Pay and Google Pay. Like other Upgrade credit cards, there are no monthly fees, late fees or returned payment fees.

Image Credits: Upgrade

Essentially, this new card works pretty much like Upgrade’s existing credit card. But instead of getting 1.5% cash back on all purchases, you get 1.5% back in bitcoin — there’s no specific category, no partner retailer, no point system. It’s a straightforward, uncapped cash back program.

While you get rates that range between 8.99% and 29.99%, Upgrade encourages you to combine monthly charges into installment plans that you can pay back over 24 to 60 months. Once you’ve done that, you pay equal monthly payments at a fixed rate.

“Upgrade Card is already delivering over $3 billion in annualized credit to consumers,” co-founder and CEO Renaud Laplanche said in a statement.

“Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits,” she said.

Gemini co-founder Tyler Winklevoss said crypto credit cards were a good way to give users a point of entry to the cryptocurrency space without them having to alter their existing spending habits.

“As more consumers look to enter the crypto ecosystem, the Gemini Credit Card gives them an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spending habits,” said Winklevoss.

“Mastercard continues to evolve and meet both industry and consumer demands and commit to the crypto space.

We’re honored to work hand in hand with Gemini to deliver this one-of-a-kind rewards offering and make it even easier for consumers to experience crypto.”

The move comes on the heels of a Wednesday announcement about “the world’s first crypto-backed payment card” from Mastercard and Nexo, a cryptocurrency lending company in Europe.

The “Nexo card” is currently only available in some European countries, but works like a normal credit card: users can pay for traditional goods and services, with the advantage of using cryptocurrency as collateral. Users can also link the card to their Apple Pay or Google Pay accounts. The cards will be accepted at 92 million merchants worldwide that take Mastercard, according to the company.

“The card requires no minimum repayments, monthly, or inactivity fees.

Gemini launching credit card bitcoiner

First credit card to provide real-time crypto rewards, up to 3% in crypto on purchases

Gemini, a cryptocurrency platform, today announced details of its first-of-a-kind cryptocurrency rewards credit card, including a partnership with Mastercard and WebBank, a leader in digital lending and the bank issuing the credit card. Since it was first introduced in early 2021, the Gemini Credit Card has amassed more than 140,000 people on its waitlist. Gemini has teamed up with Mastercard as the exclusive card network to offer a number of innovative features for this upcoming offering:

  • Crypto rewards on purchases: Cardholders will earn up to 3% back on qualifying purchases in bitcoin or any of the more than 30 cryptocurrencies available on Gemini.

Gemini launching credit card bitcoins

Cryptocurrency exchange company Gemini is acquiring Blockrize and announcing a new product today based on Blockrize’s work. 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 like any other credit card and will be available in the U.S. Customers will earn up to 3% in bitcoin rewards (again, up to 3%).
You’ll be able to earn other crypto assets as well. Those rewards will be deposited on your Gemini account.

This isn’t the first time a company is announcing a credit card with bitcoin rewards. BlockFi already announced its own card back in December. Both companies have yet to launch their cards.

As a comparison, BlockFi promises 1.5% rewards on purchases in fiat currencies.

Gemini launching credit card bitcointalk

The US crypto exchange Gemini has partnered with Mastercard and WeBank to launch a credit card that will give its users rewards in cryptocurrency.

The card generates 3% in Bitcoin or whichever cryptocurrency the user chooses that is available on Gemini’s platform and crypto rewards will be automatically deposited into the cardholders’ Gemini account.

Mastercard’s press release said that “Unlike most cards, which pay rewards out monthly, Gemini cardholders will receive their crypto rewards as the transaction occurs for most of their purchases. This gives cardholders full control over their rewards and allows them to benefit from any appreciation in the price of their rewards from the moment the transaction occurs.”

The card will have a metal design, will not have an annual fee and will be available in black, silver or rose gold.

There’s a $200 annual fee, 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 crypto enthusiasts don’t want to use a debit card tied to a cryptocurrency wallet as they don’t want to spend their crypto assets — HODL, as they say.

You could consider those credit cards as an alternative to credit cards that give you cash back. Sure, you don’t get points that you can exchange for perks.
But you get crypto assets without having to think about it.

Gemini customers can sign up to the waitlist today. Blockrize has been working on a credit card for some time.

We’re excited by all the vibrance in the crypto ecosystem and are using our expertise in payment tech to add important elements such as consumer protections and regulatory compliance.

Who’s the audience for this card?

Perlman: It can be, really, for everyone. For current crypto investors, it’s a way to earn rewards in these assets through everyday purchases, and for people new to crypto or those who are crypto curious, it’s an easy way to dip a toe into the market. We believe this card will be appealing to the crypto curious who want to learn more about it without having to change their daily habits.

Turner: We’ve been seeing an increased appetite from consumers for different kinds of digital payments.

Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits.”

The Gemini Credit Card will offer real-time crypto rewards available in all 50 U.S. States and will be accepted wherever Mastercard is accepted. The Gemini Credit Card is expected to launch this summer and those who are on the waitlist will receive first access to apply.

For Gemini users or others interested in signing up to the waitlist, please visit: https://gemini.com/credit-card/waitlist.

To sign up for a Gemini account visit: https://exchange.gemini.com/register.

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.”

Those who join the waitlist, and the more than 10,000 people already on the Blockrize waitlist, will get early access. The Gemini Credit Card will work like a traditional credit card.
It will be available to U.S. residents in every state and will be widely accepted wherever major cards are accepted. Rewards will be automatically deposited into a cardholder’s Gemini account.

For Gemini users or others interested in signing up to the waitlist, please visit: https://gemini.com/credit-card/waitlist.

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