The platform launched its long-awaited Mastercard, which gives holders cryptocurrency rewards. It is available in the US.
The United States-based cryptocurrency exchange, Geminiyou are launching your anticipated credit card master card that offers rewards in digital currencies.
the company of brothers Winklevoss announced Thursday that Gemini Credit Card is now available to users in all 50 US states based on a Press releasecard holders can earn up to 3% cash back on their purchases. The reward will be deposited in cryptocurrencies into your platform accounts.
Headlines can use your credit card Gemini to pay at any merchant that accepts master card and they will have the possibility to choose between more than 60 digital assets, such as Bitcoin, Ether Y Dogecoin, for the reward. As such, users will be able to get back 3% of their restaurant spending, 2% on grocery payments, and 1% on all other purchases.
1/3 The wait is OVER. #GeminiCreditCard is now live in all 50 US states????
The Gemini Credit Card is the first credit card to deliver instantly #crypto rewards, and offers our cardholders the ability to automatically earn crypto on every swipe! Terms Apply https://t.co/cTI6xYOe8s pic.twitter.com/C4ZJdUKM53
— Gemini (@Gemini) April 14, 2022
The new card, which is issued by the industrial bank web bank and has the support of master cardintends to remove barriers to entry for new users seeking access to coins such as Bitcoinsaid Pravjit Tiwana, CTO of Gemini. Tiwana added in the statement:
In partnership with Mastercard and WebBank, we developed the Gemini credit card to offer a simplified way to invest in cryptocurrencies without asking consumers to change their daily behavior.
What does the new Gemini Credit Card?
In addition to the crypto rewards, the card Gemini it also offers other benefits. Among them, it promises to be free of charge annual fees and foreign transaction fees. It also offers a zero exchange fee to receive cryptocurrency rewards, as well as access to exclusive promotions and offers from partner merchants.
The product works by automatically converting the US dollar denominated value of the rebate for each purchase into the cryptocurrency selected by the user. Then deposit it into the account Gemini of the holder. Holders will be able to exchange their cryptocurrency reward from within the platform and as often as they wish.
Executive Vice President of Digital Associations of mastercard, Sherri Haymond, assured that the new card will make it easier for consumers “experience cryptocurrencies“. She highlighted in the statement:
Mastercard and Gemini share the belief that delivering relevant and innovative crypto rewards experiences will not only empower consumers, but also unlock access to the digital currency ecosystem..
The offer of cryptocurrency cards grows
The startup comes more than a year after the exchange first announced the project. as reported DailyBitcoin, Gemini announced its intention to launch a card in early 2021, and then, in April, presented the product in partnership with master cardhighlighting its objective was to provide rewards for daily payments.
Although the launch was initially expected for summer 2021, the plans seem to have been delayed by a few months. However, the enthusiasm of the community does not seem to have diminished. According to the company, more than 500,000 people have signed up for the waiting list of the card since registration opened last year.
The launch converts to Gemini the last in the crypto industry to offer a product of its kind. Cryptocurrency cards have become very popular in recent times, and companies like BlockFi Y we sell They launched their offers last year.
this very week, Nexusa digital asset platform that offers cryptocurrency loans, launched his own card in alliance with master card Y DiPocket. The product, which differs from other cryptocurrency cards available on the market, offers backing in digital assets by promising customers to spend without selling their holdings. It is initially available in Europe.
Article by Hannah Estefanía Pérez / DailyBitcoin
Unsplash image (does not correspond to the product mentioned in this article)
WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.