An incredibly novel idea. A credit card with cryptocurrency rewards.
Blockrize (https://www.blockrize.com) is developing a credit card that will give cardholders 1% crypto back on every purchase.
Very interesting. Instead of the normal cash-back, points, or miles rewards, users can earn crypto coins of their choosing. The benefit is really around the potential value growth of those coins as compared to cash.
For example, the site estimates if a customer spends $1000 a month with their credit card, they would have earned $120 last year with traditional 1% cash back cards. But, if that were instead converted to 1% Bitcoin last year, the rewards would have amounted to $825 and a staggering $1975 for Ethereum.
So there could be some great advantages if crypto goes up during the year. Conversely, if it goes down, the returns could be well below what 1% cash could offer.
Overall, I like it.
For those who are interested, head over to blockrize and join the waitlist. About 4000 people already have. https://www.blockrize.com/
That's an awesome idea. For it to be successful they'll either need one of the big credit card names involved or they'll have to get a major company like Amazon or Walmart to accept the new card as payment. You might be able to target some kind of a niche audience and go for a smaller market but the card wouldn't go near as big.
I'd love to see something like this happen but I think they have some major hurdles to clear to make it work. If it does happen I'd get one though.
Optimally, it would be best if they could get approved by VISA or MasterCard.
Absolutely, I'd be on it in a heartbeat.
That idea is incredible and we hope that this credit card will be developed as soon as possible
Agreed. I have already signed-up on the wait list.
Great write-up! Thanks.
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