As the cryptocurrency is using as a payment way, the crypto debit cards are rapidly launching. The crypto debit card works like a normal banking card and can be used for purchasing things. The crypto asset converts into fiat currency at the time of payment transactions.
The companies behind these crypto-backed cards are also giving very handsome rewards in making transactions. The purpose behind the incentives is to inspire users to use crypto debit cards for daily transactions thus making cryptocurrency a mainstream payment medium.
Rewards for both Active and New Users
The blockchain company Ternio, the company behind the crypto debit card BlockCard, announces to increase the rewards up to 6.38% for the users. This outstanding incentive offer will be actively open for users from 14th April onward both for new and active customers.
Ian Kane, the co-founder and COO of the BlockCard, said:
‘’Starting April 14th, all BlockCard users (existing and new) will be entitled to earn 6.38% back in cryptocurrency rewards on all BlockCard purchases – with no ceiling on the amount they can earn.’’
‘’You can spend $100 or $100,000 and earn 6.38% on all merchant purchases,’’ Kane said while talking to Cointelegraph.
Will Launch for Europeans in Q2
According to Ternio’s founder, BlockCard is currently available only to US customers. However, they have a plan to rolls out the crypto debit card to Europe in Q2. Kane said,’’ In Q2 we will be launching in 31 European countries and the rewards program will be available to those residents as well.’’
It is the first card that is compatible with Google and Apple Pay. And this card also works like a normal debit card having rewards up to 6.38%.
‘’The new BlockCard rewards program is another iteration in that journey. This rewards program will surely raise some eyebrows inside the crypto community and is another step towards driving mass adoption of cryptocurrency to people on the sidelines.’’
The cryptocurrency exchange Binance rolled out its debit card at the end of March while Coinbase also reported working with Visa in February 2020.