Last updated on March 9th, 2021
BlockFi has announced new features for its upcoming BlockFi Bitcoin Rewards Credit Card from Visa. Here is the latest on this exciting fintech credit card:
New BlockFi Card Features Announced
BlockFi, the fintech company seeking to make Bitcoin rewards with a credit card a reality, has unveiled more features of its upcoming BlockFi Bitcoin Rewards Credit Card. The card is part of Visa’s Fintech Fast-Track program, which seeks to speed up integrating new technologies into the credit card space.
The newly announced features of the card include:
- 5% Bitcoin rewards on all purchases from month four through six of card membership. This perk applies to up to $100 in Bitcoin.
- An additional 2% APY on the cardholder’s average daily Stablecoin balance, up to $200.
- 25% Bitcoin rewards on eligible BlockFi trades, up to a maximum of $500 in Bitcoin per month.
These new perks are in addition to previously announced features of the BlockFi Bitcoin Rewards Credit Card. Those features include:
- 5% Bitcoin rewards on all purchases.
- $250 in Bitcoin after making $3,000 in purchases with the card within the first three months of opening an account.
- $30 in Bitcoin for every client referral.
The BlockFi Bitcoin Rewards Card will be issued through Evolve Bank & Trust and will carry a $200 annual fee that is not waived for the first year. There is no date for the card’s launch, though most experts anticipate the card’s debut at some point in 2021.
Cryptocurrency and Credit Cards
More and more fintech firms are seeking to add cryptocurrency as a reward form for credit and debit cards. For example, Portland startup, Bumped, seeks to transform credit card rewards into Bitcoin through its brokerage system. The Fold Card, also from Visa, has a similar goal to BlockFi, offering Bitcoin and crypto rewards with every purchase.
BlockFi Lending is a financial services company. It specializes in providing credit services to markets with limited access to simple products like a savings account. The company offers a variety of services, including cryptocurrency trading. BlockFi features market-leading rates with institutional-quality benefits not found with other startups.
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