It's about to get a lot easier to earn bitcoin thanks to a first-of-its-kind credit card: the BlockFi Rewards Visa® Signature Credit Card. While there are debit cards by Coinbase and Fold that offer bitcoin rewards, this is the first credit card that rewards you with the cryptocurrency, instead of points or miles.
Visa and cryptocurrency financial tech company BlockFi have partnered to release the BlockFi Rewards Visa Signature Credit Card to U.S. residents in all states except for New York (due to regulatory restrictions) in spring 2021. The card will be issued by Evolve Bank & Trust, and Deserve will be a technology and program management partner for the card.
Cardholders will earn 1.5% cash back on all purchases that will automatically be converted to bitcoin and placed into a BlockFi account every month. If you spend more than $50,000 in a 12-month period, you can earn 2% cash back after that. New cardholders can earn 3.5% cash back in their first three month of card membership, capped at $100.
Since bitcoin earned from card transactions is deposited into a BlockFi account, it's regarded as standard crypto funding, and it can be withdrawn, earn interest, be traded or used as collateral toward a crypto-backed loan.
There are no foreign transaction fees.
You can join the waitlist now.
