Gemini’s crypto credit card has arrived! Gemini announces Thursday that its credit card is available in the United States and will offer cashback rewards in over 60 different cryptocurrencies. (Reporting via coindanslecoin)
) and others. Cardholders are able to earn up to 3% crypto back on dining, 2% on groceries and 1% on all other purchases.
When a cardholder makes a purchase, Gemini automatically converts the United States dollar-denominated value of the reward into the selected digital asset and deposits it into the cardholder’s Gemini account. Cardholders can change their selected crypto reward as often as they wish, which enables customers to earn not just one cryptocurrency.
Mastercard’s executive vice president of digital partnerships Sherri Haymond noted that the payment company shares Gemini’s belief that providing relevant crypto rewards experiences will “not only empower consumers but also unlock access to the digital currencies ecosystem.” Gemini chief technology officer Pravjit Tiwana said that the new credit card reaffirms the company’s commitment to removing barriers of entry for consumers who want to get into cryptocurrencies like Bitcoin. Tiwana mentioned that the crypto industry had a breakout moment in 2021, with 44% of crypto owners in the U.S.
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