The card can be used anywhere Visa is accepted and returns 1.5% in Bitcoin to the cardholder with each purchase
Crypto asset manager BlockFi yesterday announced the launch of its long-awaited credit card with bonus program.
The BlockFi Rewards Visa Signature Credit Card was announced last year. Since December 2020, almost 400,000 people have put themselves on the waiting list. Those at the front of the queue will now be asked to apply for the card, which will be shared with selected approved customers in the US.
The card offers all the standard benefits of Visa Signature and can be used wherever Visa is accepted, i.e. in 44 million stores in more than 200 countries and regions.
Terry Angelos, Senior Vice President (SVP) and Global Head of Fintech at Visa, commented: “Crypto reward programs are great for getting consumers excited about the crypto economy. We are excited about programs like the BlockFi Rewards Visa Card that offer rewards relevant to the growing community of digital currency users.“
The BlockFi card provides customers with a way to earn Bitcoin. For every purchase with the card, you will receive 1.5% refund in Bitcoin, and from a purchase value of $ 50,000 in the current year even 2 %. In the first three months of using the card, you will receive a Bitcoin premium of 3.5 %. These rewards are sent to the customer’s BlockFi Interest Account (BIA) after they are redeemed, where they are enriched with crypto compound interest.
Other benefits for cardholders include a $ 30 reward in Bitcoin for each successful customer referral (in addition to the basic Refer-a-Friend program). There is also a trading bonus that allows customers to get back 0.25% of their trading volume of approved cryptocurrencies in Bitcoin up to a monthly maximum of $ 500. In addition, a Stablecoin bonus gives cardholders an additional 2% APR on their stablecoin holdings on a BIA. These bonuses are also paid out in Bitcoin.
Flori Marquez, co-founder and SVP of Operations at BlockFi, added: “The crypto industry has come a long way since the first Bitcoin transaction 11 years ago. Today, almost everyone knows about the important role crypto plays in reshaping finance, and our new credit card will be another game-changer. With this card, you can earn Bitcoin back by just doing your everyday purchases, so easier than ever.“