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Save Cash | Earn Bitcoin With The BlockFi Bitcoin Rewards Card

Visa Inc., a leading financial services company, has teamed up with BlockFi, a New York-based crypto startup, to launch a credit card that rewards users with bitcoin (BTC).

1. Factsheet

About the Card

· The card comes with an annual fee of £149.7 (according to the report)
· The card will be issued by Evolve Bank & Trust.
· The card will initially be available early 2021 only in the US and outside at a later stage.
· Users of the new card will get 1.5% of all their purchases back in BTC (the highest bitcoin rewards rate available for any card product in the market)
· Bonus in bitcoin included after spending $3,000 on the card in your first three months.

About BlockFi 

BlockFi is a crypto lending and borrowing platform launched in August 2017.

As one of the pioneers in crypto banks, BlockFi currently offers three products such as BlockFi Interest Account (BIA), Crypto backed loans and Trading.

2. How to make cash

How do YOU make cash

The way the card works is simple.

After applying and being approved, you’ll receive a credit limit (in USD).

You can spend this limit each month, and if you pay your statement balance on time you won’t be charged any interest on the balance.

For every transaction that you make on the card, 1.5% cash back will accrue and then automatically be converted to bitcoin and placed into your BlockFi account on a regular monthly cycle.

3. Admission process

The BlockFi Bitcoin Rewards Card is for individuals, not businesses.

However, if you are a business client and wish to join the waitlist, you and your employees can open a personal account to participate.

1. Sign up for a BlockFi Interest Account

2. Complete your User Profile within your Account Settings

3. Once approved, make your first deposit

4. Sign up for the Bitcoin Rewards Credit Card waitlist

The waiting list for the BlockFi Bitcoin Rewards Credit Card is officially available to clients with funded BlockFi accounts in the BlockFi app.

Note: Joining the waitlist to apply for the BlockFi Bitcoin Rewards Credit Card (“Card”) does not guarantee that you will be eligible to receive the card. Geographic, regulatory, and underwriting restrictions will apply. Fees and terms are subject to change, and additional terms of service will apply to the Card.

4. Expected income

1.5% cash back for every transaction that you make on the card will be accrued and then automatically converted to bitcoin and placed into your BlockFi account.

5. Feedback

It’s the first credit card in the crypto ecosystem and the first time the bitcoin logo has been featured prominently on a physical card.

6. Site preview

Mat

Mat is the founder of cashtipsandtricks and has been working in the financial sector in Luxembourg for the past 10 years and brings his insights as an investor and entrepreneur.

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