Credit Card To Offer Crypto As Cash Reward
Credit cards have been known to offer all kinds of rewards to users, be it money off on certain kinds of purchases, donations to charities, air miles or cashback. But now crypto is getting in on the act.
The firm, which is owned by Paypal and launched the card last year, has been offering three per cent payback, but until now this would just be in standard currency.
Now, it is offering the chance for this to be converted into one of four currencies: Bitcoin, Ethereum, Litecoin or Bitcoin Cash.
This is not the first time Venmo has got involved with the crypto world. In April this year its app allowed people to buy these four currencies. Fr this reason, it can be seen that the latest initiative is a logical next step.
By bridging the worlds of consumer credit ad crypto, Venmo may be opening up a new avenue to make the use of such currency a mainstream thing.
However, one thing Venmo - and other credit providers - are by definition not offering is the chance to buy physical crypto coins. That’s why you should contact us to get such novelties.
Writing about the wide range of possible future for cryptocurrencies, Fintechzoom suggested this week: “We’ve only just begun understanding how cryptocurrency will shape our future. But one certain thing is that innovation never stops.” It added that these currencies will continue to “grow into something more than what was initially imagined”.
So it seems with the Venmo initiative. But at the same time the article also notes that while many have become rich trading cryptocurrency, others “are still trying to figure out what this new form of currency really is”.
At least with some novelty crypto coins, you will know what is right in front of you.