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Gemini Unveils Plans For Credit Card With Crypto Rewards

Gemini, a crypto exchange and custodian, today announced that it will launch the Gemini Credit Card, a credit card with cryptocurrency rewards. This effort has been accelerated by the acquisition of Blockrize, a fintech startup that has been building a credit card with cryptocurrency rewards. In preparation for launch later this year, Gemini has opened the Gemini Credit Card waitlist — providing Gemini customers, and those already on the Blockrize waitlist, with early access.

By combining Gemini’s simple, reliable, and safe platform with Blockrize’s rewards program, card holders will be able to seamlessly earn up to 3 percent back in bitcoin, or other cryptos, on every purchase they make with the Gemini Credit Card.

“The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior, ” said Tyler Winklevoss, CEO of Gemini. “Rather than deciding how and when to buy crypto, customers can do so when making their everyday purchases. We’re excited to welcome the Blockrize team to Gemini and work together to continue to mainstream crypto.”

Those who join the waitlist, and the more than 10,000 people already on the Blockrize waitlist, will get early access. The Gemini Credit Card will work like a traditional credit card. It will be available to U.S. residents in every state and will be widely accepted wherever major cards are accepted. Rewards will be automatically deposited into a cardholder’s Gemini account.

For Gemini users or others interested in signing up to the waitlist, please visit: https://gemini.com/credit-card/waitlist. To sign up for a Gemini account visit: https://exchange.gemini.com/register.

This is Gemini’s second acquisition, following its acquisition of Nifty Gateway in November of 2019. Gemini continues to look for companies that align with its values and mission to empower the individual through crypto.

About Gemini

Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store more than 30 cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and Zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through crypto.

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Bitcoin News Cryptocurrency News Ethereum News Litecoin News

Cryptocurrency Market Cap Blows Through $1 Trillion

A wave of recent institutional buying has propelled the total market cap of all cryptocurrencies to exceed the $1 Trillion level for the first time ever.

The price of bitcoin hit another all-time high Wednesday. Bitcoin (BTC) was trading around $36,868 as of 7 p.m. ET, Gaining 6.5% over the previous 24 hours, and easily surpassing Jan. 2’s previous record high of $34,366.

According to the latest data, the $1 trillion cryptocurrency economy has gained significant value in the last 24 hours. The world’s largest cryptocurrency, Bitcoin, is topping the list with a market cap exceeding $680 billion.

Best Performing Cryptocurrency Assets

Ethereum is the best performing asset among major cryptocurrencies, the total market cap of Ethereum jumped nearly 60% in the last 7 days to reach a market cap of $137 billion. As of writing, the price of Ethereum is hovering around $1,211, within striking distance of its all time high.

The world’s top cryptocurrencies have gained the limelight in recent days due to a significant increase in market value, but other crypto-assets like Cardano and Stellar have actually performed better than Bitcoin and Ethereum in the last few weeks in terms of percentage gain. Stellar (XLM) has gained more than 60% in the last 24 hours, and 159% in the last 7 days as the total market cap of the cryptocurrency reached $7.4 billion. Further, XLM posted strong gains after an announcement by the Ukrainian Ministry of Digital Transformation to work with Stellar Development Foundation to introduce virtual assets in the country.

Furthermore, Litecoin, Polkadot, Chainlink and Bitcoin Cash posted strong gains in the last few days as all the mentioned cryptocurrency assets gained more than 30% in the last 7 days. Institutional adoption is pushing the cryptocurrency economy beyond the $1 trillion market cap much quicker than most observers had anticipated.

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Cryptocurrency News

Megaupload Founder Chooses Bitcoin Cash For Digital Tool Suite

Kim Dotcom, whose website Megaupload was once the 13th most popular site on the Internet and responsible for 4% of all Internet traffic, has launched a new digital too suite it describes as “The Ultimate Content Monetisation System”. The company aims to become the easiest and most secure way to generate revenue with digital content.

The company, K.IM states the ability to turn “digital files into file shops. Users can use our service to package a file that they want to sell into an encrypted container file and then they can place it anywhere on the Internet. Customers who want to access the content inside the encrypted container can make a payment using cryptocurrency like Bitcoin Cash.”

Asked why he was excited about K.IM and Bitcoin Cash in particular, Dotcom said that while Bitcoin (BTC) has been a great tool for asset storage, Bitcoin Cash is “great for payments” for services like K.IM and offers new financial opportunities for consumers, vendors and investors. Kim had the following to say about the crypto market:

“My opinion is that crypto use is on the rise and BCH is in a good position to accumulate market share. For me it’s simple: The more users you have the more value you have.”

“The winners in the crypto race will be decided by vendors and users. Focus on the fundamental question: What do vendors and users want? Low fees, fast transactions, high security and ease of use.”

He went on to say that Bitcoin Cash was currently “undervalued” and that the “upside potential for those who missed the BTC train” is enormous. Bitcoin.com Founder and friend of Dotcom, Roger Ver, said that Dotcom has “always been ahead of the rest of the market and that people should pay attention to his predictions.” He went on further to say:

“When you look at interest in BTC these days, a lot of it comes in trying to chase its historic investment gains. As long as the price keeps going up, there is going to be a lot of interest. But what happens when people want to start actually using it to pay for things? They will discover the limitations of Bitcoin and look for an asset that can be both an investment and a true peer-to-peer payment system like Bitcoin was originally meant to be. That’s what Bitcoin Cash is.”

Speaking further on Bitcoin Cash, Ver said the following:

“It has all the great qualities that helped BTC become a store of value but it’s not artificially rate limited. Entrepreneurs like Kim Dotcom can actually use it to build their business without relying on central parties to provide payment layers. It’s not surprising that he would be so bullish about Bitcoin Cash.”

Ver said that K.IM is one of the most exciting products he’s seen in years and has the potential to get millions of people using cryptocurrencies like Bitcoin Cash which can handle the massive volume Dotcom’s businesses have created in the past.

About K.IM

Providing advanced services and technologies to manage, protect and sell digital content, K.IM will revolutionize the monetization of digital content and create a fair market for content creators and consumers.