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The new card is another hybrid solution for would-be crypto enthusiasts

Spend in fiat, get the bonus in Bitcoin

03.Dec.20 10:34 AM
By Shawn Highstraw


The new card is another hybrid solution for would-be crypto enthusiasts
Visa comes in 2021 with a special credit card that does not save points or miles, but bitcoin serves as a rewarded for every purchase you make.

According to Bloomberg, the company has entered into a partnership with the crypto startup BlockFi, a company that specializes in saving, investing and borrowing in crypto mints. Together they will introduce the “Bitcoin Rewards Visa Credit Card " next year, which will cost about $ 200 a year.

Credit card users will receive 1.5 percent of their purchases back in the digital currency. They also receive a bonus in bitcoin worth $250 if they spend more than $ 3,000 in the first three months they are in possession of the card.

Both existing and new BlockFi account holders can register on the waiting list for the credit card. The current BlockFi users will first have access to the new credit card, then the new BlockFi members will be next. At the beginning of January, the waiting list will be opened for everyone.

The new card is intended for people who are not yet familiar with crypto, but want to start investing in bitcoin. According to BlockFi, "the credit card offers an easy entry point, because the user gets bitcoins through daily expenses and no major investments are needed.”

It's not the first time Visa issued a special Bitcoin card. In April, the credit card company started a partnership with the startup Fold, issuing a special debit card that also allows customers to save in bitcoins. At the beginning of this year, Visa and Coinbase also announced the Coinbase Card, a debit card with which you can actually pay with bitcoins.

The US payment company PayPal, was last October, well-known, the most important crypto mint as an official means of payment to accept. Bitcoin, partly because of all this news, has already increased its value by 166 percent this year. Last week, the bitcoin reached a record level of nearly $ 20,000.

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