27/04/2021
New York-based cryptocurrency exchange Gemini today announced the upcoming release of the Gemini Credit Card, which allows cryptocurrency holders to spin and receive cash rewards in the form of bitcoin (BTC) or any other cryptocurrency available on the Gemini platform.
The credit card is issued jointly with Mastercard and is also issued by the online banking institution WebBank. It is expected to be released later this summer and has already received more than 140,000 registrations from customers who are waiting, according to a press release from the company.
Gemini joins major cryptocurrency exchanges like Binance and Coinbase in launching a cryptocurrency credit card, with holders looking for a way to use their coins in real-life situations. The Gemini card would offer users 3% cashback on restaurant purchases, 2% cashback on grocery store purchases and 1% cashback on other purchases. It seems that the reward is paid out to the user in real time, at the exact moment the transaction takes place.
Linda Kirkpatrick, president of Mastercard’s North American operations, said the financial services company was excited to offer customers more ways to make payments and rewards in cryptocurrencies.
Our work with Gemini builds on this position by connecting consumer needs with next-generation assets and delivering innovative experiences that redefine the future of card rewards and benefits, she added.
Tyler Winklevoss, co-founder of Gemini, said cryptocurrency cards are a great way to give users an entry into the cryptocurrency space without having to change their existing spending habits.
As more consumers look to enter the cryptocurrency ecosystem, the Gemini credit card offers them an easy entry point and a way to earn cryptocurrency rewards without changing their daily habits, Winklevoss said.
Mastercard is constantly evolving to meet the needs of the industry and consumers, and is engaging in the crypto space. We are excited to be working with them on our first real-time crypto currency rewards card to promote the mainstream of crypto currency, he added.
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frequently asked questions
Can I buy bitcoins on Gemini with a credit card?
Overview of crypto-currency exchanges
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Gemini Magazine
How does Gemini cryptography work?
The assistant to a novice trader…
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