Many people all around the world rely on having a trustworthy bank card on hand. Not only does it help me personally get the most out of my finances, but it also helps me to maximize the benefits that come with my card.
If you’re like me and want to take advantage of a variety of perks, a BlockFi Bitcoin Rewards Credit Card is worth considering. It includes lifestyle advantages, travel, incentives, and service, as well as security and safety.
In this post, I’ll discuss the BlockFi Bitcoin Credit Card, what it has to offer, and how to get your hands on it. Learn more about the benefits of this card and how it fits into various lifestyles.
- About the BlockFi Bitcoin Rewards Credit Card
- Features and Benefits
- How to Apply for the BlockFi Bitcoin Rewards Credit Card
- Maximize the Benefits
- Frequently Asked Questions
About the BlockFi Bitcoin Rewards Credit Card
The BlockFi Bitcoin Rewards credit card is a ground-breaking credit that earns cryptocurrency instead of rebates or travel rewards on each currency or dollar-denominated transaction made every day. Each qualifying transaction earns me 1.5% in bitcoin, with no limits on how much I can make.
The Bitcoin Rewards credit card is one of Visa’s Fintech Fast Track initiatives, an amazing infrastructure that enables the card’s unique bitcoin bonus system. It’s provided by Evolve Bank & Trust, facilitated by Deserve, and is supported by BlockFi, a prominent bitcoin wallet service.
For the first 90 days of your card’s use, earn 3.5% back in bitcoin, up to $100 in bitcoin, or roughly $5,000 spent using the card.
Every month, my bitcoin incentives are sent to my BlockFi Interest Account (BIA) and they begin earning income right away. If I spend $3,333 in January and earn $50 in bitcoin, my BTC will earn 6% APY in the interest account right away, giving me an additional $3 if I keep it for the entire year.
How it Works
How the card works are pretty straightforward. Take this as an example, I’ll be given a credit limit when issued the card. I can spend up to this monthly amount, and I won’t be fined extra if I pay my bill credit promptly.
Each activity I make on the credit earns me a 1.5% rebate, which is immediately converted to bitcoin and sent into my BlockFi account monthly.
The Bitcoin Rewards Rate Bonus is an actual spending best option by BlockFi. Over the following three months, I’ll get a 2% rise in my bitcoin incentives, from 1.5% to 3.5%, for example. By the end of the sixth month, the bonus will have reached a maximum of $100 in bitcoin.
Features and Benefits
As of this writing, there are a number of significant perks. To begin with, the 1.5% reward benefits associated with this credit card are priced in bitcoin.
As a cardholder, this implies that anytime I use the card for everyday transactions, I will be able to rack up bitcoin for free. It is also linked to BlockFi’s complete complement of crypto online banking.
Reward incentives, for example, are automatically put into BlockFi interest accounts, allowing me to earn interest on their freshly obtained bitcoin.
I only need to establish a funded BlockFi account to get a spot on the waitlist and be one of the first to get this card. If I invest $20,000 or more, I may be eligible for a supplementary automatic payment bonus of up to $250 BTC.
Other Highlights of BlockFi Bitcoin Rewards Credit Card
The BlockFi Bitcoin Rewards card is also unique in that it is the first credit card in the cryptocurrency community. It is the first time that the bitcoin symbol has been clearly marked on a card.
Trading on BlockFi became much more profitable as a result of this. As an account holder who uses the system to trade cryptocurrencies, I will receive 0.25% of their market cap back in Bitcoin, subject to a limit of $500 each month.
Using credit cards over debit cards has various advantages, such as financial security, higher reward percentages, and chances to build credit.
How to Apply for the BlockFi Bitcoin Rewards Credit Card
BlockFi has yet to introduce their Bitcoin Rewards credit card as of this writing, however, you can join the waitlist. Given that the card’s benefits need an interest account, I think it’s worth creating one now to have a better understanding of the industry.
So, because there isn’t an amount of data on the Bitcoin Rewards registration form procedure yet, I’ll show you how to establish an Interest account, which is necessary before you sign up for the credit card waitlist.
To begin, go to BlockFi’s page and click the Sign-Up button on the Home page. To set up an account, I’ll need to give my email address and establish a secure password. The next step is to confirm my account using the code that was provided in my email.
To prove my identification, I must make my first deposit after logging in. Finally, I must submit legitimate identification, such as a passport or driver’s license.
Eligibility Requirements
As previously stated, BlockFi has yet to give complete information on how to apply for their Bitcoin Rewards credit card, as well as who is eligible to apply. But, for the time being, let’s suppose that, because one of the prerequisites is an Interest Account, one must be a citizen of the United States.
it is likely that a credit score of 690 or above will greatly improve your chances of having an approved application.
Furthermore, an initial deposit into my Interest Account to verify my identity is required.
Maximize the Benefits
Over the course of three months, the usual 1.5% return on bitcoin will reward me roughly $45 for the $3,000 spent. Once I have spent $3,000 I will receive a $250 sign-up incentive and $45 in 1.5% bitcoin incentives.
The Bitcoin incentive increase also gives me an extra 3.5% bitcoin on every deal for a total bonus raise of $100 by the 7th month. To earn this reward, I’ll have to spend approximately $5,000 over the next three months. The flat 1.5% bitcoin reward will also earn me $75.
In addition to the data mentioned above, BlockFi provides a “Refer-a-Friend” bonus. As a cardholder, I may receive an additional $30 BTC for each successful recommendation to BlockFi.
This incentive is in addition to BlockFi’s basic offer. I can make $40 in Bitcoin for every one of my first four recommendations and up to $50 for each friend after that. Even better, there is no cap on the number of recommendations I can send or the amount of bitcoin referral incentives I can receive.
BlockFi Bitcoin Rewards Credit Card Fees
When applying for a credit card, it is important to consider the fees and interest charged. Below is a list of fees that come with the BlockFi Bitcoin Rewards Credit Card.
This list is not comprehensive and reflects only the current information available.
- Annual fee – $0
- Foreign Transaction Fees – $0
Frequently Asked Questions
Although the BlockFi Bitcoin Rewards credit card has not yet been released, it has certainly piqued the curiosity of many individuals, particularly crypto aficionados. So, because this card piques my interest, I decided to address a series of questions that may arise.
The first is the BlockFi sign-up incentive. The sign-up incentive will be credited once I’ve applied for the BlockFi Visa card.
Then there’s the question of BlockFi’s trustworthiness and whether or not it’s a bank. Although BlockFi isn’t really a bank, there are some parallels. BlockFi, for example, offers the same borrowing and lending options as my regular banking institutions.
Another issue that many fans may have is whether or not BTC can be purchased on the BlockFi platform. Yes, it can. I can buy stocks and other crypto assets if I open an account with BlockFi.
BlockFi Contact Information
To find out more about the BlockFi Bitcoin Rewards credit card, it is advisable to contact the bank directly.
You can visit their office at 86 Chambers Street Suite 205 New York, NY 10007 United States. Or send them an email at [email protected].
The Bottom Line
Although the BlockFi Bitcoin Rewards credit card has not yet been released, all available information suggests that it will be a solid credit card. This is ideal for cryptocurrency fans who want to expand their access to Bitcoin with every dollar invested.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.