BlockFi Announces Launch of the BlockFi Rewards Credit Card to US Waitlist Clients
JERSEY CITY, N.J., July 6, 2021 (Newswire.com) - BlockFi is pleased to announce that the highly anticipated BlockFi Rewards Visa® Signature Credit Card is currently available to select approved US waitlist clients.
Since launching the waitlist in December 2020, the BlockFi Rewards Visa® Signature Card waitlist has amassed nearly 400,000 people. Following successful beta testing, BlockFi and its partners have begun offering those first in line on the credit card waitlist to apply and releasing the card to select clients.
Card recipients will be able to earn 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 2% back in Bitcoin on every dollar spent over $50,000 annually. For every transaction cardholders make they can earn Bitcoin rewards. Once redeemed, Bitcoin rewards are transferred to a cardholder's BlockFi Interest Account (BIA) where rewards can earn crypto interest, meaning even more Bitcoin.
The BlockFi Rewards Visa® Card can be used anywhere Visa® is accepted, along with a wide range of additional bonuses from Visa® including travel opportunities, fine wine and food, sporting events, shopping, and more. Some of the special offers include upgrades at more than 900 of the world's most prestigious properties with the Visa Signature Luxury Hotel Collection (terms and conditions apply). Plus, cardholders can save on premium ground transportation with Silvercar's all-Audi fleet of rental cars.
"Crypto rewards programs are a compelling way to engage consumers in the crypto economy," said Terry Angelos, SVP and Global Head of Fintech at Visa. "We're excited to see programs like the BlockFi Rewards Visa® Card, which offer rewards that are relevant to the growing community of digital currency adopters."
"The crypto industry has come a long way since the first Bitcoin payment transaction 11 years ago," said Flori Marquez, Co-Founder and SVP of Operations at BlockFi. "Today, nearly everyone knows about the important role crypto plays in reshaping the financial space, and our new credit card is set to be another game-changer. This card will make it easier than ever for people to earn Bitcoin back while making day-to-day purchases."
BlockFi also provides cardholders a wide range of additional bonuses and opportunities to earn, including:
- Stablecoin Bonus — Cardholders with stablecoin assets such as GUSD, PAX, or USDC in a BlockFi Interest Account (BIA) can earn up to an extra 2% APY on top of the prevailing stablecoin APY. Over the first year of card membership, the stablecoin bonus will accrue based on cardholders' average daily stablecoin balance, paid in bitcoin, up to $200.
Trading Bonus — The BlockFi credit card makes trading on BlockFi even more rewarding. Cardholders who trade eligible cryptocurrencies on the platform will earn 0.25% of their trading volume back in Bitcoin, up to a maximum of $500 in BTC every single month. Trade more, earn more bonus bitcoin—it's that simple.
Note: stablecoin to stablecoin trading is excluded from this bonus.
- Refer-a-Friend Bonus — Cardholders who make successful referrals to BlockFi earn an extra $30 in Bitcoin for each friend they refer, on top of the base Refer-a-Friend program. With this bonus, clients can earn $40 in Bitcoin for each of their first four referrals and up to $50 in Bitcoin for each referral thereafter. Best of all, there's no limit to how many referrals clients can make and how much in bitcoin referral bonuses they can earn.
The BlockFi Rewards Visa® Card has no annual fee. Applicants can see if they're pre-approved without impacting their credit score before they apply*. The card features a sleek metallic design, along with a prominent Bitcoin logo. This innovative product was developed through partnerships with Visa®, Evolve Bank & Trust, and Deserve, and it comes with all the standard Visa Signature Benefits cardholders expect.
If you haven't joined the waitlist yet, there's no time to waste. Sign up today, you wouldn't want to be the last person without one.
Media Contact for BlockFi:
Ryan Dicovitsky/Ellie Johnson
Dukas Linden Public Relations
*A soft credit pull happens before you've accepted the credit card offer. A hard credit pull occurs when you've accepted your credit card offer, which can have an impact on your credit score.
Disclaimer: Joining the waitlist to apply for the BlockFi Bitcoin Rewards Credit Card ("Card") does not guarantee that you will be eligible to receive the card. Geographic, regulatory, and underwriting restrictions will apply. Fees and terms are subject to change, and additional terms of service will apply to the Card. Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections.
Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person's citizenship, residence or otherwise.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Learn more at BlockFi.com.
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