There have traditionally been two ways to earn cryptocurrencies like bitcoin. You can mine for it, or you can invest actual money in it. But now an exciting third way is on the horizon thanks to Mastercard and the Winklevoss Twins’ Gemini, as the two companies have partnered on the world’s first crypto rewards credit card.
The Gemini Credit Card offers rewards on qualifying purchases in bitcoin or one of more than 30 other cryptocurrencies. Dining earns you 3% back, groceries 2%, and all other purchases offer a 1% return. That’s a pretty solid rewards tier and it’s on par with some of the leading cash/points/airline miles rewards cards on the market. But unlike typical rewards credit cards, the Gemini Credit Card has no annual fee, meaning you can get a slice of the bitcoin pie without investing a penny beyond what you normally spend in a day. And since the card is also a Mastercard, it’s accepted everywhere a normal Mastercard is while offering typical Mastercard security. There’s also additional security from Gemini, as the physical card has no numbers — your card number is instead found on the Gemini app behind two-level authentication. The Gemini Credit Card’s waitlist is now open, and the card will be rolled out in all 50 states this summer.