People Are Sharing How They’re Earning Bitcoin Rewards With Everyday Purchases Like Pizza And Phone Bills
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It’s important to always have eyes on the future.
As a consumer, I’m a big fan of Chase Ultimate Rewards cards like the Chase Sapphire Reserve credit card or the Chase Freedom card. Over a period of time, the points start to add up when used for everyday purchases like restaurants, hotels, DoorDash, Uber, gas stations, and grocery stores. Then points can be used to subsidize future travel costs – A weekend in Vegas, for example, or round-trip airfare to see friends or family in another city.
As long as you’re disciplined in paying the card balance and not completely stockpiling your cache of points as a hedge against devaluation, the benefits of accumulating travel rewards outweigh the hit to the wallet with associated fees.
But travel rewards are no longer the only game in town when it comes to perks from day-to-day purchases. In fact, the new BlockFi Rewards Visa® Signature Credit Card rewards consumers with Bitcoin for every purchase.
Backed by Visa, the BlockFi bitcoin rewards credit card allows cardholders to earn Bitcoin, deposited to your account on a monthly basis. It’s the first of its kind in the category, so it’s truly a revolutionary product for anyone interested in stackin’ stats with $BTC.
It’s a handsome card too:
— B (@snapchatbully) July 31, 2021
Think about it like a cashback card, except you’re earning Bitcoin and its associated marketplace value as a digital asset instead of a statement credit. In other words — think of it like bonus crypto when you swipe your credit card at the grocery store or shop online.
How it works
We’ve previously covered the Pros and Cons of the new card, as well as initial reviews from some of the first people to get it.
Here are the key details on how the Bitcoin rewards program works, according to BlockFi:
- No annual fees.
- No foreign transaction fees.
- Earn 3.5% rewards up to $100 in Bitcoin for first 90 days, 1.5% on all purchases after that
- Ability to earn an unlimited 1.5% back in Bitcoin on every purchase.
- Earn 2% back on purchases made after spending $50,000 on the card in a calendar year.
- Any cardholder who also holds a BlockFi trading account will earn up to $500 BTC per month based on their trading volume.
Announced in early July 2021, the BlockFi Bitcoin Rewards credit card recently started shipping to people on the waitlist – you can sign up to get yours here.
The current sign-up bonus for new cardmembers is worth consideration: 3.5% back in Bitcoin on your purchases up to $100 in Bitcoin for the first 90 days.
Meanwhile, you can see how new BlockFi Rewards cardholders are using the card to get Bitcoin with regular purchases. For example – pay phone bills or buy pizza, a symbolic nod to the very first Bitcoin commercial transaction in 2010.
Got my BlockFi rewards card and immediately took over as payment provider on the family phone plan. Using bills to mine sats.
— Creed (@chemical_scum) July 27, 2021
— willis nielson (@gwillis7) July 28, 2021
— Chelsea Crist ⚡️ (@crist_chelsea) July 31, 2021
— Keith (@keithkman) July 31, 2021
— Joe Stivrins (@Stryker_ODOTA) July 23, 2021
I went ahead and got a refund on my purchase and moved it over to my @BlockFi card. At least now I got 3.5%. That beats the hell out of 0.38%.
— Ike Wells (@Ikecro) July 30, 2021
— Tiger HODL (@TigerTTan) July 27, 2021
— §yoshiioko (@adrianisawank) July 28, 2021
If you’re still on the fence, here’s a pretty good overview of what the card is good for. If you’re interested in a no-frills way of building up your Bitcoin stash, it’s worth consideration.