In a digital world, information only matters if it's timely, relevant, and credible. We do not transact in the business of insurance in any manner, and we are not attempting to sell insurance or asking or urging you to apply for a particular kind of insurance from a particular company. CNET is not an insurance agency or broker. Our content may include summaries of insurance providers, or their products or services. However, all CNET editorial content is independently researched and developed without regard to our corporate relationship to LLC or its advertiser relationships. And LLC may receive compensation from third parties if you choose to visit and transact on their website. Our insurance content may include references to or advertisements by our corporate affiliate LLC, a licensed insurance producer (NPN: 8781838). The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. CNET’s compensation is never tied to whether you purchase an insurance product. For example, some advertisers pay us to display ads, others pay us when you click on certain links, and others pay us when you submit your information to request a quote or other offer details. To support our work, we are paid in different ways for providing advertising services. Any opinions, analyses, reviews, or recommendations expressed in editorial content are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser. Our advertisers do not direct our editorial content. According to BlockFi, a crypto lending startup, Bitcoin rewards were responsible for some of the purchasing frenzy for cards last year, with cardholders together receiving more than 124 BTC in rewards just three months after the cashback program launched.We are an independent publisher. According to Tiwana, the crypto sector reached a tipping point in 2021, with 44 percent of crypto owners in the United States reporting making their first crypto purchases the previous year.Īs previously reported, the concept of crypto cashback cards has recently gained traction, with firms such as BlockFi and Venmo launching crypto reward cards last year. The new credit card, according to Gemini’s chief technology officer Pravjit Tiwana, underscores the company’s commitment to lowering barriers to entry for consumers interested in cryptocurrencies like Bitcoin. Sherri Haymond, executive vice president of digital partnerships at Mastercard, agreed with Gemini that providing meaningful crypto rewards experiences will “not only empower consumers but also unlock access to the digital currencies ecosystem.” Customers can change their crypto reward as often as they want, allowing them to earn more than one cryptocurrency. When a cardholder makes a transaction, Gemini immediately transforms the reward’s US dollar value into the digital asset of the cardholder’s choice and puts it in the cardholder’s Gemini account. Cardholders can get up to 3% cryptocurrency back on dining, 2% back on grocery, and 1% back on everything else. More than 500,000 people have signed up for the Gemini Credit Card waitlist since it was launched last year, according to the company.īitcoin (BTC), Ether (ETH), Dogecoin (DOGE), and other cryptocurrencies are supported by the Gemini Credit Card as rewards. The card’s launch comes more than a year after the company first announced the idea in 2021, with the goal of incentivizing consumers to use cryptocurrency for regular transactions.
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