BlockFi, which claims to be different from other crypto asset service providers by pairing market-leading rates with institutional-quality benefits, has launched the first crypto rewards credit card in cooperation with Visa.
As BlockFi stated in the announcement, the plan to distribute credit cards with cryptocurrency rewards was announced already last year when the company began to find out how much interest there was among clients.
Today, nearly everyone knows about the important role crypto plays in reshaping the financial space, and our new credit card is set to be another game-changer. This card will make it easier than ever for people to earn Bitcoin back while making day-to-day purchases. said Flori Marquez, Co-Founder and SVP of Operations at BlockFi
In practice, from now on, every BlockFi's Rewards Visa Card holder can earn 1.5% on every Bitcoin purchase, and these rewards can be as high as 2% if the client exceeds $ 50,000 per year. To attract attention and raise awareness about this card, BlockFi comes with a 3.5% reward incentive for the first 90 days, which lasts until the client reaches a $100 worth of Bitcoin.
Terry Angelos, Global Head of Fintech at Visa, claims that this is the best way to attract more consumers to the crypto economy when he said “Crypto rewards programs are a compelling way to engage consumers in the crypto economy,”.
According to published data, more than 400,000 clients are currently waiting for this BlockFi's Rewards Visa Card, to whom it should be distributed around the end of this month.