Visa Bitcoin Backed Card Collects 124 Btc in Rewards, Over Three Months

Read the orignal article by: Erhan Kahraman Here

Visa Bitcoin backed rewards cards have been out for three months, Blockfi is now reporting that consumers with the card are now on track to spend $30,000 on average by the end of the year. This is about six times the average of the $5,111 for regular citizens in the United States.

“The fact that cardholders are pacing towards over 2 billion dollars in annualized spend reinforces BlockFi’s mission to provide clients with broader access to financial products and services that allow them to invest in cryptocurrency more easily,” BlockFi Co-founder and CEO Zac Prince told Cointelegraph.

The card enables holders to receive rewards in bitcoin, as opposed to the regular point system, associated with these cards. The card has now amassed over 50,000 holders, across all 49 states, with New York being the obvious exception.

The program has collected 124 btc in rewards for consumers, with Costco, Amazon, and Home Depot being the top retailers. This program is only the beginning for crypto related banking solutions, and can easily be seen doubling or tripling in customers as crypto continues to penetrate the public mind.