12/12/2023 0 Comments Apply for gemini credit card![]() As such, a BlockFi account gives you access to a variety of activities including support for buying, selling and trading and even taking out a loan in US dollars against your crypto assets. Choose your own crypto rewardsīlockFi started out as a cryptocurrency exchange in 2017. ![]() But this resets to 1.5% on your card anniversary every year. If you hit $30,000 in expenditure within the year, your earnings get boosted to 2% back in crypto for every dollar spent beyond that. If you’re a big spender, you’ll earn even more rewards. This is on top of the base 1.5% rewards rate, so you can earn up to 11.5% total on eligible purchases. BlockFi Offers, a program that recently launched in conjunction with the BlockFi credit card, offers up to 10% on popular brands - like Adidas, Shake Shack, H&M, Finish Line and Jared - automatically. You’ll earn an unlimited 1.5% in the crypto of your choice on every purchase you make with the BlockFi Rewards credit card, and there are ways to get even more. Previously, you were able to hold your credit card rewards in this interest account to earn even more crypto. As an example of the volatility in this industry, BlockFi is no longer offering BlockFi Interest Accounts after a ruling by the SEC in February, though they may be back on the table once BlockFi becomes compliant. Credit card rewards are typically not subject to income tax - but you should know that the government could eventually exact capital gains taxes on crypto rewards. One caveat: Cryptocurrency tax legislation remains a murky and evolving area, putting the BlockFi Rewards card into a slightly higher risk category than a run-of-the-mill rewards credit card. In short, if you are eligible - you’ll probably need good to excellent credit - and like the sound of earning cryptocurrency back on purchases, this could be the card for you. There’s also a referral bonus when you get friends and family to sign up. It has no annual fees or foreign transaction fees, and can be used anywhere that accepts Visa. Though it has the sheen of a crypto-native creature, the BlockFi Rewards credit card actually is a pretty conventional rewards credit card. If you’re unphased by the crypto market’s sudden downturn and the uncertainty brought on by the collapse of the luna cryptocurrency, the BlockFi Rewards card can earn you top crypto rewards rates. While it is now part of Gemini, people who previously signed up to Blockrize’s waitlist are still on the waitlist.The BlockFi Rewards Visa® Signature Card, one of the original crypto credit cards, offers rewards in your choice of over 10 cryptocurrencies - like bitcoin and ether - instead of the classic cash back, points and miles. ![]() Blockrize has been working on a credit card for some time. Gemini customers can sign up to the waitlist today. But you get crypto assets without having to think about it. Sure, you don’t get points that you can exchange for perks. You could consider those credit cards as an alternative to credit cards that give you cash back. 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. This new category of credit cards could be interesting for people who want to slowly acquire cryptocurrencies without going through an exchange. 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. Both companies have yet to launch their cards.Īs a comparison, BlockFi promises 1.5% rewards on purchases in fiat currencies. BlockFi already announced its own card back in December. This isn’t the first time a company is announcing a credit card with bitcoin rewards. Those rewards will be deposited on your Gemini account. You’ll be able to earn other crypto assets as well. Customers will earn up to 3% in bitcoin rewards (again, up to 3%). The credit card will work like any other credit card and will be available in the U.S. 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. Cryptocurrency exchange company Gemini is acquiring Blockrize and announcing a new product today based on Blockrize’s work.
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