Cryptocurrency keeps evolving and experiencing a wide range of acceptance. With more novelties coming into place, one of the newest on the block is the “cashback to crypto,” which allows credit cardholders to spend their rewards to buy Litecoin and other crypto assets.
This novel reward has appealed to a wide range of people so far, especially crypto enthusiasts who gleefully take advantage of the offer to buy Litecoin and other cryptocurrency assets as the prices of crypto continue to experience a steady rise.
The transfers are conducted by the world’s leading payment processing networks: Visa or Mastercard, just like almost all the credit cards in circulation. If Visa issues your cashback to a crypto rewards card, it will be accepted wherever Visa credit cards are accepted. To be clear, cashback to crypto rewards are similar to most traditional credit card cashback rewards, even though they could appear confusing or unattractive.
Cashback to crypto credit cards can also be eligible for Visa or Mastercard privileges and card protections, depending on their processing network. You should note that a cashback to a crypto credit card can be used to make purchases just like any other credit card. You will be able to redeem your rewards to buy Litecoin or other cryptocurrencies every time you use your credit card. While some credit cards offer airline miles or cash back, cashback to crypto cards allows you to use your rewards to buy Litecoin or other types of cryptocurrencies.
The Rise of “Cash Back To Crypto”
Over the years, credit card users have enjoyed receiving cashback on their purchases made with their cards. However, this has changed recently as several organizations and businesses have switched to offering cashback to crypto rewards for card credit card holders, enabling them to spend their rewards to buy Litecoin or other crypto assets.
While many businesses began to embrace the idea of cashback to crypto, many of them still retained the option of the traditional rewards system. Below are some of the credit cards that offer cashback to crypto that allow you to spend your rewards to buy Litecoin.
Gemini Credit Card
Gemini credit card offers cashback to crypto that allows users to earn up to 3% back in Bitcoin or more than 50 other cryptocurrencies for every dollar spent. Users’ rewards are also put into their accounts right away. There is no yearly charge. This card has a waiting list to be opened.
Upgrade Bitcoin Rewards Visa
Upgrade Bitcoin Rewards Visa has a few card products that cross between a credit card and a personal loan. Purchases are charged to a line of credit (which can range from $500 to $25,000), but the debt is paid off in predetermined monthly payments. As an Upgrade Bitcoin Rewards Visa credit cardholder, you can earn an infinite 1.5 percent back on purchases. There are no hidden costs or extra charges.
Venmo Credit Card
Venmo’s rewards credit card just included the possibility for cardholders to purchase Bitcoin, Ethereum, Litecoin, and Bitcoin Cash with no transaction cost using their rewards points. This service allows you to pay for things with your phone. Users select their chosen cryptocurrency ahead of time, and Venmo uses the cashback gained to purchase that cryptocurrency at the end of each month. Earn 3% cashback on your most expensive category, 2% cashback on your next most expensive category, and 1% cashback on everything else.
The Brex cards now enable redemptions for Bitcoin (BTC) and Ethereum (ETH) and other alternatives such as miles, gift cards, cash, and travel, making it the first business card to include cryptocurrency as a redemption option.
Brex has two different types of business cards, each aimed at a different type of business. The Brex card paid monthly allows well-funded businesses to access money swiftly. In contrast, the Brex Card, paid daily, has no minimum balance requirement and allows businesses to charge up to 80% of their credit limit. Earnings can be exchanged for Bitcoin or Ethereum on both cards in the same way that they can be redeemed for miles, gift cards, cash, or travel.
Tomo Credit Card
Customers who have accumulated at least $10 in rewards on the Tomo Card can redeem their earnings for any of the three major cryptocurrencies: Bitcoin, Ethereum, or Litecoin, with more options to come down later. As a Tomo credit cardholder, you have twenty-eight days after the previous month’s statement has been paid in full to redeem your earnings in crypto.