Home Earn Bitcoin BlockFi Bitcoin Rewards Credit Card Review – GOBankingRates

BlockFi Bitcoin Rewards Credit Card Review – GOBankingRates

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Our take: The BlockFi Rewards Visa Signature Credit score Card is a cryptocurrency rewards card that earns 1.5% in bitcoin for each buy. Nevertheless, you may’t convert your rewards into cryptocurrency instantly. BlockFi will convert your rewards to bitcoin month-to-month. When you’re into cryptocurrency — significantly Bitcoin — this card could be a good selection.

  • Rewards

  • Charges

  • Options

  • Cryptocurrencies Supported

How did we calculate this?

Professionals

  • No annual payment
  • No international transaction charges
  • Welcome supply of three.5% again in bitcoin rewards within the first 90 days
  • Further 2% APY on stablecoin holdings in a BlockFi Curiosity Account

Cons

  • Unstable rewards

BlockFi Rewards Visa Signature Credit score Card Overview

The BlockFi Bitcoin Rewards bank card is without doubt one of the first cryptocurrency credit cards available on the market. The cardboard helps you to earn Bitcoin rewards, relatively than money again or miles, on each buy. Purchases made with the BlockFi bank card earn 1.5% again in bitcoin, deposited to your BlockFi account month-to-month.

The cardboard presents an introductory bonus of three.5% again on all purchases within the first 90 days of possession. Nevertheless, the rewards are capped at $100 in bitcoin. The cardboard additionally presents 2% again for each greenback over $50,000 spent per yr. Plus, cardholders with stablecoins in a BlockFi Curiosity Account can earn an extra 2% annual percentage yield on their eligible stablecoin stability.

With the BlockFi bank card, you’ll additionally earn 0.25% again on all eligible cryptocurrency trades with BlockFi, which might go as much as $500 in bitcoin monthly. What’s extra, there’s a refer-a-friend bonus of $30 in bitcoin for each particular person you discuss with BlockFi.

Rewards and Options

BlockFi Rewards

The BlockFi Bitcoin Rewards bank card presents a number of rewards, together with the next:

  • Signal-up bonus: The cardboard presently presents a 3.5% sign-up bonus for all purchases within the first 90 days of card membership, capped at $100 in bitcoin.
  • Earn bitcoin on all purchases: After the primary three months of card possession, you’ll earn 1.5% in bitcoin again on all purchases.
  • Earn again on trades: For all eligible trades with BlockFi, you’ll earn 0.25% again, as much as $500 in bitcoin every month.
  • Spend bonus: For each greenback you spend over $50,000 per yr, earn 2% again in bitcoin.
  • Refer-a-friend bonus: Earn $30 in bitcoin for each shopper you discuss with BlockFi.
  • Further curiosity: Earn an additional 2% APY in your stablecoin holdings in a BlockFi Curiosity Account, for as much as $200 in bitcoin.

Rewards accrue in your BlockFi account and are robotically transformed to bitcoin every month.

Visa Card Advantages

Along with BlockFi rewards, there are a number of different Visa card advantages, together with entry to the next kinds of perks:

  • Luxurious lodges
  • Visa Signature Concierge Service
  • Nice meals and wine occasions
  • Premium automotive rental service
  • Buying

Charges

  • No annual payment
  • No international transaction charges

Curiosity Charges

  • 14.99% to 24.99% annual percentage rate
  • Further 2% APY on eligible stablecoin stability in a BlockFi Curiosity Account

Opponents

BlockFi Bitcoin Rewards Credit score Card vs. SoFi Credit score Card

The SoFi Credit score Card is one other no annual payment card it’s possible you’ll wish to take into account. It presents 2% money again on eligible purchases which you could redeem towards saving, investing or paying down a mortgage with SoFi.

Though the SoFi bank card doesn’t have a sign-up bonus, you’ll be higher off with the two% limitless money again. Plus, the cardboard comes with Mastercard advantages, together with free annual ShopRunner membership, a three-month free trial of DoorDash DashPass and a $5 Lyft credit score for each three rides, as soon as monthly.

BlockFi Bitcoin Rewards Credit score Card vs. Improve Bitcoin Rewards

Just like the BlockFi bank card, Improve Bitcoin Rewards has no annual payment and allows you to earn a vast 1.5% in bitcoin for each buy made. Nevertheless, this card doesn’t have a welcome supply — however you may redeem your rewards for an announcement credit score. With this card, you’re additionally restricted to Bitcoin as the one accessible cryptocurrency.

BlockFi Bitcoin Rewards Credit score Card vs. Gemini Credit score Card

Together with no annual payment and no international transaction charges, the Gemini Credit score Card presents extra advantages than the BlockFi Bitcoin Rewards bank card. With the Gemini card, you may convert your rewards in actual time and also you’re not solely restricted to Bitcoin — you may convert your rewards to over 40 cryptos. You’ll additionally earn 3% again on eating, 2% again on groceries and 1% again on all different purchases.

Is the BlockFi Bitcoin Rewards Credit score Card Proper for You?

The query of whether or not the BlockFi Bitcoin Rewards bank card is best for you totally will depend on your wants. When you’re in search of a rewards bank card that earns you bitcoin, this card could be an amazing selection. However if you wish to earn rewards that you can convert to other cryptocurrencies, it’s possible you’ll wish to take a look at different options.

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Concerning the Creator

Lydia Kibet has been writing professionally since 2017. Her ardour for serving to manufacturers in all facets of content material advertising flows via within the skilled trade protection she offers — private finance, investing and healthcare. Her work has been featured in The Motley Idiot, Investor Junkie, Inexperienced Market Report, and Medical Information Right this moment. When she’s not writing, she’s both studying, enjoying guitar or catching up with nature. Observe her on Twitter.

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