BlockFi Updates Its Bitcoin Credit Card, Announces Launch
It was initially called the Bitcoin Rewards Visa Credit Card. Despite still having a waitlist, it has started to take applications from the people at the top of this list.
Crypto exchange BlockFi has made several noteworthy changes to make the credit card more attractive to crypto enthusiasts. Thanks to these changes, the credit card is also expected to be more competitive in the new world of crypto rewards credit cards. Not long after the announcement by BlockFi, many other companies had also announced their crypto-based credit cards. The initial set a date for the launch of this credit card was early 2021, but the crypto exchange BlockFi decided to make some significant changes and thus postponed its launch. Feedback received by interested consumers has been partly influential in these changes.
Below we go through the details of the brand new BlockFi Rewards Visa Signature Credit Card:
- The bitcoin card offers 1.5% back on each purchase the cardholder makes. Its introductory offer is 3.5% back on each purchase during the first 90 days of the cardholder.
- You will earn 2% back for each dollar you spent when your annual expenditure exceeds $50,000.
- BlockFi was planning to have a yearly fee of $200; however, this would be a significant disadvantage given that the other crypto rewards credit cards had no annual fee. Thus another significant change has been axing the yearly fee.
- It is possible to pay the bills with stablecoin assets as well as US dollars.
- A cardholder can receive ¼ of their trading volume back in the form of cryptocurrency rewards. It will be possible to obtain the tips for the cryptocurrency type that you choose. It aims to expand redemption preferences beyond bitcoin.
- A cardholder can add several authorized users to their accounts.
Once you get the approval, you will receive both a digital card and a physical card delivered to your address. You can add the digital card to your digital wallet and start using it right away. Each time you refer friends and they apply, you will receive a bonus of $40. After the first four referrals, the bonus increases to $50 per friend.
In this post, we shared the latest news about the BlockFi Rewards Visa Signature Credit Card features. With its remarkable changes, it is now much more attractive than its initial version. Given the risks in the world of cryptocurrency, the opportunity to earn bitcoin via everyday spending seems like a safe way to engage in cryptocurrency.
In any case, remember that the world of digital currencies is volatile and thus full of risks. Therefore, make sure that you are comfortable enough with how this virtual world works. Then, visit our blog for further advice and the latest news on cryptocurrency!