Visa began card issue with a cashback in bitcoins

At the beginning of December, 2020 Visa announced cooperation with a cryptocurrency startup of BlockFi and provided the new credit card with a cashback in bitcoins. Users of the credit card Bitcoin Rewards will be able to receive 1.5% of the purchases back in the form of the most valuable digital asset in the world and also lump sum payment in $250 in a cryptoasset if they spend more than $3000 in the first three months, BlockFi reports.

Use of the credit card will cost clients $200 in a year. BlockFi opened on the website the waiting list for persons interested to receive the card, but only those at whom is recharged in BlockFi can register in it so far. In January the list will become available to all, and will begin to send cards 2021 in the spring.

Visa together with BlockFi began card issue with a cashback in bitcoins

It is reported that the cashback will collect, then to be converted automatically into bitcoins and to be credited to the account in BlockFi. The card has a credit limit which should be filled every month so if to place money in time, percent will not be levied. The card will be not plastic, but metal. The startup of BlockFi claims that it is the first credit card in the world of cryptocurrencies therefore the bitcoin logo will be applied on each card. So far the card will be available only in the USA, but BlockFi urges to register in the waiting list and people from other countries because so they in the future will be able to receive the notification on a startup entry into the new markets.

Approach of Visa to cryptocurrency constantly changes and evolves together with the market. In 2018 the company conducted public fight against the Coinbase cryptoexchange concerning use of credit cards, and in February, 2020 Coinbase and Visa announced the Coinbase card which allows users to spend bitcoins using the debit card Visa.^[1]

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