Gemini Is Launching a Credit Card With Bitcoin Rewards

Later this year, cryptocurrency exchange company Gemini is planning to launch a credit card that earns bitcoin rewards based on your purchases. It's based on the work done by Blockrize, a fintech startup which Gemini has acquired for an undisclosed sum. TechCrunch reports: The credit card will work like any other credit card and will be available in the U.S. Customers will earn up to 3% in bitcoin rewards (again, up to 3%). You'll be able to earn other crypto assets as well. Those rewards will be deposited on your Gemini account. This isn't the first time a company is announcing a credit card with bitcoin rewards. BlockFi already announced its own card back in December. Both companies have yet to launch their cards.

As a comparison, BlockFi promises 1.5% rewards on fiat purchases. There's a $200 annual fee, but you get $250 back if you spend at least $3,000 with the card in the first three months. [...] Gemini customers can sign up to the waitlist today. Blockrize has been working on a credit card for some time. While it is now part of Gemini, people who previously signed up to Blockrize's waitlist are still on the waitlist.

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[Anonymous Coward]

The real use case is when the merchants refuse to be paid with 'bad money'. This is already the case with Bitcoin miner hardware companies, they want to be paid in BTC. This will happen with the application 'strike', the customers pay in USD, and the merchants could be paid in BTC. Bitcoin is censorship resistant and borderless, these are very useful new properties. And the USD is heavily debased...

This won't end well

[bazmail]

How long before Bitcoin becomes "too big to fail" i.e. becomes an economic contagion when it finally goes POP!

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[invictusvoyd]

How long before Bitcoin becomes "too big to fail" i.e. becomes an economic contagion when it finally goes POP! Flag as Inappropriate

I don't think it "needs" to be too big to fail

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[gweihir]

BTC is a small pyramid scheme / pump&dump scam that will not have larger economic impact. I anybody tries to sell large amounts, the price will immediately crash, because there are not enough morons that want to buy. The "valuations" and "coin prices" published are part opf the scam and primarily serve to draw in more fools in order to separate them from their (real) money.

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[MrL0G1C]

BTC is a small pyramid scheme / pump&dump scam that will not have larger economic impact

Except for the fact it pushes energy prices, wafer prices / GPU prices, console prices etc up. GPUs again are becoming unavailable and that's now in part due to cryptocurrency prices rising again.

Otherwise yes, cryptocurrencies are a pyramid scheme and if you buy into them then you're worsening global warning and helping money laundering.

You Assume....

[Joviex]

Otherwise yes, cryptocurrencies are a pyramid scheme and if you buy into them then you're worsening global warning and helping money laundering.

...that you are not in a money laundering scheme already with world banks. lel.

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[tlhIngan]

How long before Bitcoin becomes "too big to fail" i.e. becomes an economic contagion when it finally goes POP!

Probably never.

BitCoin has a limited transaction rate because only so many transactions can be had per block, and you need to have to wait several cycles to ensure your transaction gets locked in.

This inherently limits how much use Bitcoin can be used - and as the queue of pending transactions get longer, the price per transaction goes up.

Instead, the transaction takes place off-ledger so it just ma

Btc slashdot

[real_nickname]

Funny, I litteraly bought btc because I heard about it on this site. Best buy ever. But back then no tulips were involved, it was more about tech.

Gemini is Launching

[necro81]

I thought the Gemini project had its final launch in 1966 [wikipedia.org]. Wait till Jim Lovell and Buzz Aldrin hear about this!

So do THEY hold the wallet and say you own it...

[Glasswire]

.. or do they periodically let you transfer your coin to yours?