Credit cards are seen as an easy and convenient way to shop. It also gets special reward points for certain purchases. Along with these credit cards of banks, Crypto Currency and its Credit Cards have also been introduced for some time now.
In traditional credit cards we deal in Indian Rupees. Similarly, a crypto credit card is based entirely on cryptocurrency. Reward points are also available in cryptocurrency. The company offers you a crypto card, through which you can spend and then pay.
Transactions in Crypto and Payments in Crypto
There is no difference between the way ordinary credit cards and crypto credit cards work. The only difference is that the whole transaction takes place in cryptocurrency. This means that you also have to make credit card payments in cryptocurrency.
Such rewards the company pays
Credit card companies issue these credit cards. Rewards are offered in different ways on credit cards of different companies. Gemini credit cards, for example, offer three percent payback on Bitcoin. This payback is credited to the user’s Gemini account immediately after purchase.
BlockFi credit card users pay 1.5 percent cashback. What is special about this is that you can get this cashback in 10 types of cryptocurrencies like Bitcoin and Ethereum. Sofai, Venmo credit cards are offering similar rewards.
The user needs to pay special attention to these matters
One thing to keep in mind here is that crypto credit cards, like traditional credit cards, have to pay extra interest in case of late payment. Also the price of expensive crypto can put big scissors in your pocket.