Visa will offer a credit card that rewards purchases in Bitcoin, rather than cash or airline miles, in early 2021. The report from Business Insider suggest a lot of further details. The card comes at an annual fee of $200. The users will receive 1.5% of their purchases back in Bitcoin and a bonus of $250 in the world’s most popular digital currency after spending $3,000 or more within the first three months. Cryptocurrency startup BlockFi, Visa’s card partner, said it “offers an easy entry point, enabling consumers to accrue bitcoin through everyday spending.”
VISA and BlockFi partner
Visa will be releasing this new credit card in early 2021. BlockFi will partner with VISA to offer users bitcoin and cryptocurrency reward for using the card. Crypto market is back up and the Highest market cap coin that is Bitcoin is seeing its all time high.
Waitlist registrations have already opened for both existing and new BlockFi account holders. But current BlockFi users will have first access as they can register, apply, and receive the new credit cards before everybody else. A public waitlist will open in early January.
Evolve Bank and Trust will issue the new card.
“We’re excited to add credit cards to our suite of products and expand bitcoin’s accessibility to a broader set of consumers,” Zac Prince, BlockFi’s CEO and founder, said in a statement. “This card makes it simple and risk-free for people to gain or increase exposure to a new asset class without changing their spending or investing habits.”
This is just the start as more and more companies and retail investors are jumping into the crypto market. Recently, PayPal has also entered into the crypto universe, PayPal offers users to hold, buy, and Sell Cryptocurrency.