Gemini is introducing the Crypto Rewards credit card following the launch announcement last year

Since launching, the Gemini credit card has seen over 500,000 signups on its waitlist.

Cryptocurrency platform Gemini has officially launched its crypto rewards credit card after a long wait. According to the announcement, the Gemini credit card is currently available in all 50 US states and is enjoying incredible adoption among users. Since launching, the Gemini credit card has seen over 500,000 signups on its waitlist. Thanks to the partnership with Mastercard, the Gemini card can be used anywhere Mastercard is accepted.

Sherri Haymond, Executive Vice President of Digital Partnerships at Mastercard, commented that both MasterCard and Gemini have a similar focus on providing access to the digital currency ecosystem through relevant and innovative crypto rewards.

“We are honored to work hand in hand with Gemini to offer this unique rewards offering and make it even easier for consumers to experience crypto,” he said.

Gemini currently supports more than 60 cryptocurrencies that users can choose for their rewards. These include Bitcoin, Dogecoin, Ethereum, etc. It is designed to automatically convert the USD value of the reward into the selected cryptocurrency every time the cardholder makes a purchase. This amount will then be credited to the Gemini account balance.

Additionally, cardholders are free to change their selected crypto rewards as often as they wish. Cardholders have the opportunity to earn up to 3% crypto back when dining out and 2% crypto back when shopping. Additionally, those who make all other types of purchases can earn up to 1% crypto back.

There is no annual fee for the Gemini credit card. In addition, customers can access the digital version of the credit card directly on the Internet and in the Gemini app.

Gemini CTO Pravjit Tiwana hinted that the target market has been informed by market activity over the last year.

“Last year saw a breakthrough in the crypto industry: 44% of crypto owners in the US said they bought crypto for the first time in the last year. Gemini is committed to driving greater education and providing innovations that remove barriers to entry for consumers seeking access to cryptocurrencies like Bitcoin,” he said.

Pravjit further explained that this innovation aims to increase crypto adoption by simplifying investment options for users without affecting their daily behavior.

“The Gemini Credit Card also gives users access to a single trusted platform to buy, sell, store, and earn real interest in crypto, and we couldn’t be more excited to make it generally available across the United States.” he said added.

Just like BlockFi and Venmo, the project was originally announced in 2021 to promote crypto in everyday transactions. BlockFi has already launched it as the cardholder buying spree last year was said to be the Bitcoin reward it introduced.

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