As of 2021, there is an estimated 2.8% global Cryptocurrency ownership rate with 200 million crypto users worldwide. Cryptocurrency has been gaining popularity since the late 2010’s and does not seem to be slowing down anytime soon. Not currently part of that 2.8% but looking for a way to join? Crypto Credit Cards are the next big thing.
BlockFi is offering a Visa® Signature Credit Card where you can earn 1.5% back in Bitcoin (BTC) on all purchases. It’s credit, not debit. You’ll get a credit limit in USD and receive an instant 1.5% cash back in Bitcoin on every transaction. The BlockFi Visa® Signature Credit Card is the first card to offer this. You can also earn interest on your bitcoin rewards. The rewards will be transferred to your BlockFi Interest Account monthly and start accruing interest immediately. They use “Your miles can’t do that” as a tag line for this offer. Finally, you can use your BlockFi card anywhere that Visa® is accepted either in-person or online. Oh, and they are offering a cool metal Visa® card. This seems to be the new “It” factor for credit cards.
Next, we have Coinbase, which is offering a Visa® Debit card that lets you spend any asset in your Coinbase portfolio and earn rewards for each purchase. You will earn up to 4% back in rewards whenever you make a purchase and there are no annual fees or sign-up fees. You can spend crypto everywhere Visa® Debit cards are accepted.
Gemini is partnering with Mastercard® and is offering up to 3% real time rewards available in Bitcoin or other cryptocurrencies. You will get 3% on dining, 2% on groceries, and 1% on all other purchases. There are no exchange fees to acquire your crypto rewards. It is going to be available in three different colors (black, silver and rose gold) and available to all U.S. residents and you can spend worldwide anywhere Mastercard® is accepted.
Crypto.com is offering a Visa® prepaid card with no annual fees and up to 8% back on all spending. Crypto.com will be offering 5 different options for the cards all with different rewards and cardholder benefits. Obsidian card holders will enjoy 100% reimbursement for Spotify, Netflix, and Amazon Prime Memberships.
Nexo is allegedly the only credit card out there that lets you spend the value of your digital assets without having to sell them. Using the Nexo Card is like using any other card, all you have to do is swipe your card and the payment amount is deducted from the available balance of your credit line. You get 2% cashback with all purchases and you can choose whether you want to receive your rewards in NEXO Tokens, Bitcoin, or toggle between the two right before making a transaction. All your cashback is automatically placed in your Nexo Account so the only thing you need to worry about is making purchases with your card.
While each of these cards have their perks, you will have plenty of time to do some more research as you’ll have to get added to their waitlist with plans for the cards to launch “soon.”
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