Payment cards tied to crypto rewards can bring cryptocurrency into the mainstream. Gemini, the institutional exchange, is the latest company to offer such a payment card. Users across all 50 US states can earn their rewards starting this week.
The Gemini Credit Card Is Here
It is commendable to see cryptocurrency companies attempt to impact the payment landscape. Unfortunately, many people remain unaware or ignorant of cryptocurrencies, despite them generating many media headlines in recent years. Gemini, an institutional crypto trading platform, aims to change that narrative for the better.
The launch of the Gemini Credit Card has been highly anticipated. Although it was supposed to launch in the Summer of 2021, there are still over 500,000 interested users. It is a small pool compared to the number of people using traditional credit cards, but still an interesting development.
WebBank and Mastercard issue the Gemini Credit Card. Users earn up to 3% in crypto on dining, 2% on groceries, and 1% on all other purchases. Today over 60 cryptocurrencies are supported for rewards, including bitcoin, dogecoin, and ether. Rewards will be credited to one’s Gemini account automatically.
Gemini CTO Pravjit Tiwana comments:
“With the Gemini Credit Card, users also have access to a single trusted platform to buy, sell, store, and earn real interest in crypto, and we couldn’t be more excited to make it widely available across the United States.”