A startup is proposing the perfect offer to those who want to get into the crypocurrency industry minus the unpredictability and the exchange fees: a credit card that gives you Bitcoin instead of other more common rewards.
The idea of credit card companies offering incentives to encourage their prospective clients to use their cards is no longer new to us. It can be in the form of discounts for purchases, air miles, or other forms of reward points which they can earn over time. One new company is trying to innovate this idea and combine it with the growing cryptoccurency industry.
Blockrize, headed by Thomas Harrison, is aiming to reward their potential customers directly in Ethereum or in Bitcoin. The project is still under work but Harrison already promises strong interest in the idea from the masses. He recently told MarketWatch that there is currently a list of 2,000 customers willing and eager to receive one of the first cards from Blockrize. This feat is fairly remarkable considering that the company still has no card issuer.
The idea behind it is ingenious and pretty simple. If the card is used for purchases either in-store or online, the card holder will receive 1% of the total value spent in crypto. They will then decide whether they want it in Bitcoin or in Ethereum, or it could also be a split between the two.
The company is currently on the process of finding the perfect banking partner and proceeding to launch by the end of the year.