Mastercard’s executive vice president of digital partnerships Sherri Haymond noted that the payment company shares Gemini’s belief that providing relevant crypto rewards experiences will “not only empower consumers but also unlock access to the digital currencies ecosystem.” Cardholders can change their selected crypto reward as often as they wish, which enables customers to earn not just one cryptocurrency. When a cardholder makes a purchase, Gemini automatically converts the United States dollar-denominated value of the reward into the selected digital asset and deposits it into the cardholder’s Gemini account. Cardholders are able to earn up to 3% crypto back on dining, 2% on groceries and 1% on all other purchases. The Gemini Credit Card supports more than 60 cryptocurrencies for rewards, including Bitcoin ( BTC), Ether ( ETH), Dogecoin ( DOGE) and others. Since launching the Gemini Credit Card waitlist last year, more than 500,000 users have signed up for the product, the firm said. The card’s rollout comes more than a year after Gemini initially announced the project in 2021, aiming to reward users for using crypto for everyday transactions. The new card is issued by the state-chartered industrial bank WebBank and features Mastercard as the exclusive card network.
The company officially announced Thursday that its Gemini Credit Card is available in the United States across all 50 states. It is only intended to provide education about the financial industry.Gemini, a major cryptocurrency exchange founded by the Winklevoss twins, has launched its crypto credit card. The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. The sweepstakes is open only to legal residents of the United States, who are at least 18 years of age on the date of entry and satisfy the Gemini Credit Card eligibility requirements. Fifty winners will be randomly selected on October 15, 2021. The card design will be revealed at a later date.Įligibility. The sweepstakes starts today and will end right before midnight ET on Thursday, May 20, 2021. If you are already on the waitlist, you will automatically be entered. You must join the Gemini Credit Card waitlist to enter the sweepstakes and be approved for a Gemini Credit Card to have a chance to win one of the 50 Beeple x Gemini Credit Cards.
Gemini announced last month that they would be partnering with Mastercard to release a credit card that allows you to earn up to 3% back in bitcoin or other crypto currencies on dollars spent. Additionally, learning that we can get 3% back deposited directly into crypto is pretty cool. If I were in market for a Gemini style Credit Card, winning a limited edition beeple would be exciting. After additional reflection, the type of customer Gemini is pursuing with their Credit Card offerings are inherently Crypto Natives who understand the value of crypto-currencies and likely also share an affinity for NFT’s and the excitement around Beeple as an artist. Our initial impression of this announcement was hesitation. Gemini has partnered with Beeple to create a limited edition Beeple x Gemini Credit Card that they will be giving away to 50 lucky individuals!
Don’t leave home without it? Or, have NFTs reached peak of inflated expectations?
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