Bitcoin (BTC) exchange Gemini is coming out with a credit card this year that gives users up to 3% cashback in bitcoin. „The world is changing, people don’t get excited about hotel points or air miles anymore,“ said Gemini COO Noah Perlman.
In response to these changes, Gemini is now launching its own credit card Bitcoin Future that allows you to receive bitcoin when you pay with it. To make this happen, the company acquired Blockrize. The Blockrize team is now working to launch the credit card in all 50 states in America this year.
Cashback great way to learn about bitcoin
Bitcoin is the best performing asset of the last decade and more and more people are looking for ways to invest in bitcoin. Cashback with Gemini’s credit card is another step to make that process easier.
How cool is it that you will soon be able to shop and invest a small part of your wealth at the same time. For example, if you get 3% back on a purchase and bitcoin continues to rise, those purchases may prove to be very cheap in the future.
The special thing about cashback in bitcoin compared to air miles or hotel points is that the asset will only increase in value over time. Once people have had that feeling they probably won’t want anything else. As a customer, you will be rewarded for choosing, in this case, Gemini’s card.
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Bitcoin ETF with Gemini as custodian
Beyond the bitcoin cashback news, Gemini has plenty of other cool projects going on. The Winklevoss twins‘ company is also currently involved in the possible launch of a bitcoin ETF.
Gemini Trust is set to take on the role of administrator for a Canadian bitcoin ETF. The documents for the Arxnovum Bitcoin ETF, as the product will be called, have been filed with the Canadian Securities Commission.
The ETF is to become tradable on the Toronto Stock Exchange (TSX) under the ticker BIT.U.