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Quick setting: With the growing influence of cryptocurrency, many credit card companies have started to capitalize on the popularity of decentralized finance. The Gemini credit card differs from other cards of this type in two ways: there is no annual fee, and cardholders can earn crypto directly. However, the lower earning rates of Gemini credit cards can limit its consumers, attracting only people who genuinely believe in the futuristic potential of cryptocurrency.
- Ease of use
How did we calculate this?
- No annual fees
- Earn cryptocurrencies, such as Bitcoin, in real time
- Feature-rich app to freeze and manage your card
- More than 40 assets supported
- Mastercard benefits, such as zero liability protection and price protection
- Earn up to 2% on groceries, 1% on regular purchases and 3% on meals
- No welcome bonus
- Bonus categories only available in crypto or cash back rewards
- Limited information on cash back offers
Overview of the Gemini credit card
Regardless of the interest in cryptocurrency, it cannot be denied that the crypto market is booming. A crypto-based card like the Gemini Credit Card can allow many people to begin their crypto journey without learning much about the technical details and lingo in the field.
Gemini credit card allows you to earn crypto in real time. While most users prefer Bitcoin, Gemini also offers a host of other cryptocurrencies, including Ethereum and some smaller and lesser-known coins.
What sets Gemini credit card apart from other crypto revenue cards is the ability to earn real-time rewards. Simply put, this means that cardholders will get the crypto shortly after completing their purchase.
Other cards primarily offer cash back rewards to cardholders, which are then converted to cryptocurrency at the end of the month. The major downside to this method is that you will be subject to the exchange rate on the day you redeem your rewards.
The Gemini credit card, on the other hand, frees you from worrying about exchange rates.
Ease of use
Judging by the information on the Gemini website, the card is easy to use and requires no learning curve. Crypto is deposited into the cardholder’s account immediately after any purchase.
Cardholders don’t have to pay transaction fees or consider market conditions. Gemini also allows cardholders to choose their preferred cryptocurrency. Currently, over 40 options are available.
You do not have to pay an annual fee to use the Gemini card. Additionally, there are no exchange fees for acquiring crypto rewards, nor fees on foreign transactions. However, you may be charged a fee if you convert or sell your crypto rewards.
While most other crypto revenue cards make you wait a month to access your rewards, Gemini gives you instant rewards as soon as you swipe. According to their website, you get:
- 3% discount on meals
- 2% discount on groceries
- 1% discount on other purchases
You can keep your rewards, redeem them, or transfer them to Gemini Earn, which allows you to receive up to 8.05% APY on your crypto, including stablecoins. Gemini also allows you to change the type of crypto reward whenever you want.
Additionally, there is no limit to the number of times you can change the cryptocurrency you wish to earn into cashback.
Gemini claims to offer world class security to its cardholders. Credit cards are available in three colors: rose gold, silver, and black. However, the aesthetic appeal of metallic cards is not the only thing to mention.
Gemini designed these cards with a security-focused approach, removing card numbers from the card to ensure your account details don’t fall into the wrong hands. Other security features include encryption and two-factor authentication.
Cardholders can also freeze their cards through the Gemini app in the event of theft or misplacement.
Gemini’s security mindset aims to protect cardholders against external threats, the misuse of insider access and human error.
How does the Gemini credit card stack up?
The features of the Gemini credit card are comparable to those of the SoFi credit card since the latter also allows you to earn cryptocurrency through cashback rewards. However, you don’t earn real-time crypto with SoFi.
Instead, the cash back reward points must be converted to crypto through the SoFi app. The credit card also offers other benefits, such as a free three-month trial for Doordash’s DashPass and cellular coverage of up to $ 1,000.
Thus, this is a great card to consider if you prefer the freedom to combine crypto income with the usual benefits of credit cards. Meanwhile, Gemini credit card is ideal for people who like to earn real-time crypto.
How to register
Currently, there is a waiting list for early access to the Gemini credit card. You can join the waitlist to determine if you pre-qualify. It will not impact your credit.
All you need to do is submit your email address on the Gemini homepage and follow the onscreen instructions.
Who is it best for?
The Gemini card is ideal for people who already have some cryptocurrency know-how or believe in the profitability of crypto investments. In addition, anyone who wants to earn crypto passively can also benefit from the card.
It’s an attractive option for anyone who is more concerned with crypto and less with extra incentives and bonuses.
Sure enough, Gemini has succeeded in giving the upper hand to their card with the real-time crypto reward earning.
The effectiveness of Gemini’s crypto cashback will only truly be revealed once the cards are actively used.
With the benefits of Mastercard, world-class security, high cashback potential, and integration with other features, like Gemini Earn, the Gemini credit card definitely has an appeal. But in the future, Gemini credit card reviews of actual users will be needed to determine whether this cashback crypto-earning model is a success or a failure.
Good to know
Although Gemini allows you to earn real-time crypto rewards, some other crypto cards have higher redemption rates. They also offer up to 2% unlimited cash back on most purchases, allowing you to earn a lot more cash than with Gemini.
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