It’s an exciting day for BlockFi and BlockFi Rewards Credit Card holders. Not only are we announcing our first-ever BlockFi Rewards Payday, but it’s the first time in history that Bitcoin is being paid out to cardholders. We’ve distributed over 12 Bitcoin in total rewards to our first cardholders for purchases that were made in July, almost exactly 12 years after Bitcoin was invented!
The BlockFi Rewards Visa® Signature Credit Card, which began shipping to waitlist clients in early July, has already been met with excitement and fanfare. We promised to work through the waitlist as quickly as possible and will have completed that goal this week. We’ve loved seeing all the unboxing videos, first-purchase photos, and hearing about the many places people are traveling to while earning more Bitcoin.
“Today is yet another huge milestone not only for BlockFi, but also our valued clients,” said Zac Prince, Founder and CEO of BlockFi. “Bitcoin will play a critical role in the future of money, so it always made sense to wed it to one of the world's most familiar financial products: credit cards. We thank all of our partners in making this day possible and are excited to pay out additional BTC rewards as more BlockFi clients receive their cards."
How do Bitcoin rewards work? As a cardholder, you will receive your Bitcoin rewards based on the amount of settled transactions each month. For example, if you have $5,000 worth of settled transactions in a month, you’ll receive 7,500 rewards points based on the unlimited 1.5% back you get with the BlockFi Rewards Credit Card. On rewards redemption day, those 7,500 points will be redeemed for an amount of Bitcoin. Each reward point equals approximately $0.01, which would be around $75 earned in Bitcoin that month. And just like that, you’ll have more Bitcoin simply for paying your bills, buying groceries, or that late night pizza delivery.
What are the benefits for the BlockFi Rewards Credit Card? First, this card has no annual fee and no foreign transaction fees. Card recipients will be able to earn unlimited 1.5% back in Bitcoin on every purchase they make. In addition, cardholders will receive a 3.5% Bitcoin rewards rate for the first 90 days. Cardholders can also earn unlimited 2% back in Bitcoin on every dollar spent over $50,000 annually. Plus, you can check to see if you’re pre-approved with no impact on your credit score.
How does the BlockFi Rewards Visa® Signature Credit Card compare to other crypto cards? For starters, our card is available to you now and actually earns you Bitcoin that is yours to keep, sell, trade, or transfer. That’s unlike other crypto rewards cards that claim to “give you Bitcoin rewards,” but only provide price exposure to Bitcoin that allows you to sell but not withdraw that Bitcoin. Once BlockFi rewards are redeemed, Bitcoin is transferred to your BlockFi account where it can be held, traded, sold, or moved to a wallet address of your choice.
Learn more about the BlockFi Rewards Visa® Signature Card here
If you want to take advantage of earning Bitcoin back on every purchase, create a BlockFi account and apply now
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