The first Bitcoin rewards credit card
Annual Fee:
Regular APR:
Rewards Rate:

Later this year, BlockFi will launch it’s Bitcoin rewards credit card that targets blockchain finance focused customers looking to earn Bitcoin (and other cryptocurrencies) for their spending habits.

This announcement marks yet another milestone as blockchain and traditional financial services continue their inevitable merging paths.

This product enables the average customer to gain exposure to a new asset class without changing their spending or investing habits. Users make purchases with the BlockFi credit card as they would any other traditional credit card, earning rewards in Bitcoin instead of a cashback or redeemable point system structure.

Below, Blockfer previews what we believe to be the first of many Bitcoin and cryptocurrency rewards credit cards to enter the market.

Introducing The First Bitcoin Rewards Credit Card By BlockFi

"It’s denominated in dollars, you’re spending dollars, you don’t pay anything if you’re not carrying a balance every month.”

Zac Prince
BlockFi Founder & CEO
Source: Cheddar Interview

Everything we know about the BlockFi Bitcoin rewards credit card leads us to believe it will function almost identically to any standard credit card currently on the market.

Spending in dollars and other fiat currencies removes several of the inefficiencies involved with crypto debit cards - particularly the conversion fees.

"Instead of membership reward points or cashback, you received a Bitcoin cashback (reward) based on every purchase that you made on the card.”

Zac Prince
BlockFi Founder & CEO
Source: Cheddar Interview

The card will come with a competitive Bitcoin rewards rate when compared to cashback rates available on popular traditional cards such as the Chase Sapphire Preferred Card.

The exact rewards percentage has yet to be announced, and we are hoping it will fall within the 1.5%-3% range.

Key Benefits

  • Effortless Rewards - Users of the BlockFi credit card receive rewards on every purchase made. This is an excellent way to gain exposure to an emerging asset class without changing any current spending or investing habits.
  • Ease Of Use -If you can use a credit card, you can earn Bitcoin and other cryptocurrencies with this product. A common barrier to entry with Bitcoin and other cryptocurrencies in general is the purchase process. This will be handled entirely by BlockFi, ensuring a smooth customer experience.

Getting The Card

  • Application Process - Customers should expect to provide personal information and fill out a standard credit card application in order to receive their card.
  • Eligibility - BlockFi has not directly addressed geographic related eligibility, however it’s safe to assume that US citizens will have immediate access to the credit card.


  • APR Rates - BlockFi has announced that APR rates will fall in the “middle of the range” compared to other traditional credit cards (13%-19%). Customers won’t be charged if they pay off their balances every month.
  • Annual Fees - Based on current information available, it is reasonable to expect that the BlockFi credit card will not require any annual or monthly service fees.

Honest words on credit cards in general from BlockFi founder Zac Prince:

"Credit cards are not a great mechanism to carry debt, it's usually one of the higher cost forms of debt. Our card won’t be any different than those traditional credit card structures.”

Zac Prince
BlockFi Founder & CEO
Source: Cheddar Interview

The Impact Of Bitcoin & Cryptocurrency Reward Programs

It’s no secret that credit card companies, payment processors, banks, and traditional finance institutions in general have been paying serious attention to cryptocurrencies and their underlying blockchains.

Mastercard, VISA, and JPMorgan Chase to name a select few have already filed patents and hired blockchain focused personnel in a clear attempt to properly position themselves during the evolving stages of the blockchain finance market.

What This Means For Retail Customers:

  • More Bitcoin & cryptocurrency credit card reward products. This translates into companies competing amongst themselves in an attempt to win your business leading to better rewards and benefits.
  • Companies providing these services will need to purchase and store large amounts of Bitcoin in order to distribute rewards to their customers. This may create a larger demand for Bitcoin, therefore increasing the value of the asset.

Frequently Asked Questions

Can I build and improve my credit by using the BlockFi credit card responsibly?

Can I use the BlockFi credit card to spend my cryptocurrency?

When will the BlockFi credit card become available?

Can I earn rewards in cryptocurrencies other than Bitcoin with the BlockFi credit card?

Where can I use the BlockFi credit card?

2020 Announced Bitcoin & Cryptocurrency Rewards Credit Cards:

Company Announced Release Rewards Rate Rewards Paid In Learn More


Q3-Q4 2020


Bitcoin (BTC)

Most Anticipated




Fiat, Bitcoin (BTC), other top cryptos



Up To 3%

Bitcoin (BTC), other top cryptos

*Tomocredit offers a tiered referral system. Users that do not plan on referring others can expect to earn 1% cashback rewards.

Final Words

This is an exciting announcement from BlockFi and we are eager to see how the Bitcoin & cryptocurrency rewards credit card market develops. Customers can most assuredly expect further innovation, additional rewards options, benefits, and more over the next few years as the user acquisition competition matures.

See: You can still Earn interest on your crypto assets with BlockFi while waiting for the credit card to be released.

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Make Better Decisions With Your Crypto.
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