Gemini Unveils New Crypto Rewards Credit Card
Categories: Crypto News US
Individuals who use the credit card for purchases will earn cash back in crypto. Known as the Gemini Credit Card, the item gives three percent cash back in bitcoin or other forms of crypto to customers using it for dining purposes. They can also get two percent when they use their cards for groceries, and one percent back for all other item or service buys.The credit card is being issued by a firm known as WebBank, a division of the Mastercard company. All rewards are placed into Gemini accounts held by customers. These rewards can be hodled, traded, or used for future purchases depending on the wishes and preferences of the users. Gemini said that unveiling the credit card has been quite a spectacle. There was a waiting list of roughly half a million people that allegedly wanted early access to the card. Given that the product will be used to make everyday purchases, there are more than 60 cryptocurrencies consumers can earn rewards in. They set up their preferences prior to receiving the card and they can be changed anytime by simply logging into their Gemini accounts and making the alterations. The Space Is Becoming More Popular The crypto space is getting much bigger according to Tiwana, who stated that 2021 was a breakout year for the industry. As many as 44 percent of Americans purchased some form of crypto for the first time that year.Gemini is arguably one of the largest and most popular digital currency exchanges in America at the time of writing. The company was founded in the Big Apple by the Winklevoss Twins of “The Social Network” fame. Prior to stepping into the crypto arena, the Twins were involved in a lawsuit against Facebook leader Mark Zuckerberg.