Visa's New Credit Card will Provide Rewards in BTC

by in DeFi News

Visa to provide BTC rewards

California-based financial entity Visa will bring out a new credit card that will provide BTC rewards to holders at the beginning of 2021.

This became possible due to cooperation with lending protocol BlockFi for "Bitcoin Rewards Visa Credit Card," which yearly fee is $200.

Shoppers will get 1.5% of their trades back through the digital asset. BlockFi reported that during the first 3 months of holding the card, users will also get a reward of $250 in BTC in the case of doing purchases for $3,000 at least. A public waiting list will be available in January, meanwhile, it is already allowable for present users as well as BlockFi newcomers. Present BlockFi clients will be the first ones having access as they can be listed, apply, and get the cards ahead of others.

The new card will be released by Evolve Bank & Trust. It will offer another way to add Bitcoin funds to investments.

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The creator and CEO of BlockFi Zac Prince mentioned that the card makes it simple and secure for customers to get or boost detection to a new asset category without the need to change their financial ways.

This is not the first time Visa has adopted Bitcoin. Previously the firm teamed up with Fold to allow Bitcoin bonuses. In winter, Visa and Coinbase issued the Coinbase Card, which empowers simple and fast spending the funds from cryptocurrency wallets in Coinbase account.