Credit card

Gemini’s New Credit Card Offers Cryptocurrency Rewards

Gemini’s new credit card offers cryptocurrency rewards for dining, grocery shopping, and shopping. The cashback dollar amounts of any transaction are converted back into one of the cryptocurrencies supported by the platform. That’s great because if someone keeps saving their rewards, that could become something substantial in this booming digital economy as well. Let’s also take a look at some other essential credit card details.

Gemini’s New Credit Card That Offers Cryptocurrency Rewards

Gemini has partnered with WebBank to issue the card and operates on the MasterCard network. The user must link their Gemini account to the card, after which the cashback is deposited directly to the Gemini exchange. The demand for the card is also out of the ordinary. Gemini reported that more than 500,000 people have already signed up and are on the waiting list. And it makes sense why.

If you’re able to save 3% on dining out, 2% on groceries, and 1% on shopping, using Gemini’s credit card and investing cashback at the same time hassle-free, why are you not right? You can also choose the cryptocurrency option, in which you want the rewards to be converted, explains Gemini. And if you often change your mind about crypto rewards, you can easily select anything else on their platform.

Speaking about the new credit card, Mastercard’s executive vice president of digital partnerships said they share the same belief as Gemini. Bringing crypto reward experiences to users will unlock their access to the digital ecosystem. The VP also said he was excited to work with Gemini to deliver unique user experiences and rewards.

About Gemini

Gemini is a cryptocurrency exchange and depository where consumers can buy, trade and store digital assets. Cameron and Tyler Winklevoss established it in 2014 as a New York trust company governed by the New York State Department of Financial Services (NYDFS).

Gemini launched the world’s first approved ether exchange in June 2016 and was revealed as the world’s first licensed Zcash exchange in May 2018. It is now active in the US, Canada, UK, South Korea, Hong Kong and Singapore. The exchange also faces competition from Coinbase, Binance, Bitstamp, and Kraken.

What do you think of Gemini’s new credit card offering cryptocurrency rewards? And do you think this type of CC will take off? Let us know in the comments below. Also, if you found our content informative, like it and share it with your friends.

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