BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products, today announced that the waitlist to apply for its Bitcoin Rewards Credit Card has opened.
In addition, the company has released a new set of exclusive rewards for BlockFi credit card holders. Above and beyond the base rewards package of unlimited 1.5% bitcoin rewards on all transactions and a $250 bonus after spending $3,000 or more in the first three months, BlockFi card owners will receive:
- Bitcoin Rewards Rate Boost — After three months of card ownership, the rewards rate of 1.5% back increases to 3.5% back in bitcoin on every purchase for the following three months, with an accrual payout of up to a maximum of $100 in bitcoin, paid out in the seventh month.
- Stablecoin Boost — Card owners that hold stablecoin assets such as GUSD, PAX, or USDC in a BlockFi Interest Account (BIA) will earn an extra 2% APY on top of BlockFi’s current stablecoin APY. The bonus earnings accrue over the first year of card ownership based on an account’s average daily stablecoin balance and will be paid in the first month after annual renewal as a bonus of up to $200 in bitcoin.
- Trading Bonus — Card owners who trade cryptocurrencies with BlockFi will earn 0.25% of their trading volume back in bitcoin, up to a maximum of $500 in bitcoin each month. Note: stablecoin to stablecoin trading is excluded from this bonus.
- Refer-a-Friend Bonus — Card owners will earn an additional $30 in bitcoin for eachsuccessful referral to BlockFi. Currently, BlockFi account holders receive $10 in bitcoin for their first four new client referrals and $20 in bitcoin for every referral after that. With this bonus, users can earn $40 in bitcoin for each of their first four referrals and up to $50 in bitcoin for each referral thereafter.
The BlockFi Bitcoin Rewards Credit Card is expected to begin shipping to consumers later in H1 2021. Partners enabling the BlockFi Bitcoin Rewards Credit Card include Visa, Deserve, and Evolve Bank & Trust.
“Demand among our client base for this credit card has been strong, and we believe that interest among crypto-curious consumers will be even stronger,” said Zac Prince, CEO and Founder of BlockFi. “The Bitcoin Rewards Visa Credit Card makes it simple for people to gain or increase exposure to a new asset class without changing their spending or investing habits. And by working with Visa, Deserve and Evolve, we have the infrastructure to put this card in millions of consumers’ wallets.”
If users want to take advantage of these added rewards but haven’t signed up for the BlockFi Rewards Credit Card waitlist yet, they can claim a spot on the list today.