Bitcoin Rewards Card 2021 upgrade – Forbes Advisor

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Issued in partnership with Cross River Bank, the Upgrade Bitcoin Reward Card * is the fraternal twin of the Upgrade Visa® card with Cash Rewards. The card is designed to incentivize responsible payment behavior by offering a 24- to 60-month installment plan to pay off purchases rather than the traditional credit card model of a revolving balance that accumulates daily finance charges based on the card interest rate. If you normally have a balance, this method could be a great way to control your budget.

However, it is likely that most people considering this card will be primarily interested in Bitcoin rewards cards. Cryptocurrency credit card rewards have a moment, with a handful of cards offering crypto as a reward option. But the Upgrade Bitcoin Rewards card is the first to exclusively offer crypto as a reward and actively accept apps.

With this card, you earn 1.5% of your Bitcoin purchase when you pay your bill. Your Bitcoin rewards are held by the NYDIG trading platform and you can either keep your earnings there or exchange them for statement credit. If you choose to sell your Bitcoin and take the credit option on the statement, you will have to wait a minimum of 90 days and you will be subject to a 1.5% transaction fee.

While these fees are in line with the fees charged by other crypto trading platforms, they dilute the value of your earnings. Even if you are looking to accumulate cryptocurrency, a card that earns 2% cash back is both easier and more rewarding, and the cash back can still be used to purchase cryptocurrency. The advantage of the Upgrade Bitcoin Card is simply the convenience of earning Bitcoin without any additional steps to purchase it.

If you are looking to get acquainted with crypto without much effort on your part, the Bitcoin Upgrade Card is one way to do it. But in general, making money will be more rewarding in the short term and you can still use that income to buy Bitcoin or any cryptocurrency you like.

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