Mastercard and Gemini to launch crypto rewards credit card

The Gemini Credit Card has gained over 140,000 people on its waitlist

Mastercard Gemini

Mastercard and Gemini to launch crypto rewards credit card. Source: pexels.com

Mastercard and Gemini, a cryptocurrency platform have announced details of their cryptocurrency rewards credit card.

According to the press release, cardholders will earn up to 3% back on qualifying purchases in bitcoin or any of the over 30 cryptocurrencies available on Gemini. Crypto rewards will automatically be deposited into the cardholders’ Gemini account.

Besides, Gemini is building a crypto rewards platform to deliver crypto rewards in real-time. Gemini cardholders will receive their crypto rewards as the transaction occurs for most of their purchases. This gives cardholders full control over their rewards and allows them to benefit from any appreciation in the price of their rewards from the moment the transaction occurs.

What is more important, the card will have no annual fee so cardholders can receive the full value of their rewards.

The metal card — available in black, silver, or rose gold — is contactless and was built with security in mind. Only the cardholder’s name appears on the card, removing other sensitive information, like the 16-digit card number, which can be easily accessed via the Gemini web or mobile app and requires two-factor authentication.

Upon approval, cardholders can instantly access the Gemini Credit Card and begin making purchases online, in-app, and at the point of sale by directly adding it to their mobile wallet from the Gemini mobile app.

Cardholders can also manage their payment credentials digitally, including access to transaction history and balance information, alerts, and access to card benefits.

In addition, cardholders can access exclusive offers with select merchants such as DoorDash, HelloFresh, Lyft and ShopRunner. The Gemini Credit Card will also include advanced security features including Mastercard ID Theft Protection, Zero Liability and Price Protection, and cardholders will also have access to Priceless Experiences, offering activities both digitally and in the cities where they are.

We’ve reported that Revolut now offers 11 new cryptocurrencies.

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