Gemini credit card is one of the most well-grounded credit cards in the market today. Turning your credit card investments usually takes extra steps. But in the case of Gemini, it makes it much more manageable. It allows people to begin their cryptocurrency journey without getting much into the technicalities and jargon of this field. Even though people prefer Bitcoin, Gemini is available to host other cryptocurrencies, including Ethereum and some less-popular coins.
But what makes Gemini stand out from the rest of the credit cards is its reward-earning system in real-time. Simply put, the users shall get instant crypto rewards right after purchase. In the case of other cards, it gives cash back to the cardholders, which is converted into crypto coins at the end of the month. But in this process, you will be subjected to exchange rates for redeeming the rewards. So now, let us take a closer look at all other factors of the Gemini card.
What is Gemini Credit Card?
The Gemini MasterCard is created by one of the most reliable crypto exchanges in the crypto space. Gemini’s regulatory compliance is available in nearly 50 states of the US. The card is quite simple as compared to its competitors. It is a complete card that carries balances while making purchases. The cashback rewards offer 3% on dining, 2% on groceries, and 1% on everything else.
You can also earn Bitcoin as a reward along with any other asset listed on the Gemini exchange. There are 60 different crypto coins listed on the Gemini exchange. This makes it an excellent credit card for altcoins. If you are an Ethereum, Solana, and Cardano fan, you can also get rewards on these respective tokens. If you wish to avoid volatility, you can earn cash back on stablecoins like USDC and GUSD.
What Are The Features Of A Gemini Credit Card?
Let us take a deeper look at the features of the Gemini card, which will help you determine whether you should select this card or not.
Ease Of Use
The information on Gemini’s website shows that MasterCard is easy to use, and no learning process is involved. The crypto coin is deposited into the card holders’ account instantly after the purchase. It also gives exceptions on hotel bookings, dining, car rental agencies, and gas stations. Here the card holders do not have to pay trading fees either. However, they have to consider the market condition. Currently, the users have more than 60 options available.
Fees
Using a Gemini credit card means you do not have to pay annual fees. Also, there are no exchange fees to acquire crypto rewards, nor does it levies any fees on foreign transactions. However, you can get charged for selling or converting your crypto rewards.
Rewards
Most crypto-earning cards can make you wait for months to access your rewards. But in the case of the Gemini card, it gives you instant rewards as soon as you make a purchase. According to the official website of Gemini, you get the following:
- 2% back on groceries
- 3% back on dining and
- 1% on everything else
You can also hold the rewards, trade, or transfer them to Gemini Earn, which enables you to receive 8.05% APY on your crypto coins, including stablecoins. You can also change the crypto reward type whenever you want. Also, there is no limit on how many times you wish to change the cryptocurrency you wish to earn.
Security of Gemini Credit Card
Gemini claims to fame world-class security for its card holders. Here the cards are designed with a security-first approach by removing the card numbers. This further ensures that your card details do not land in incorrect hands. Some other security features include two-factor authentication and encryption. Further, cardholders can freeze their cards through the Gemini app in case of misplacement. Gemini’s first security ensures that cardholders protect against external threats, human error, or any insider access.
What Are The Pros And Cons Of A Gemini Credit Card?
Here is the list of pros and cons you must consider before selecting the Gemini MasterCard.
| PROS | CONS |
| Up to 3% cash back on purchases with no annual fees. | It is only available in the states of the US. |
| It is a real credit card and not a crypto debit card. | You get 3% cash back only on dining purchases. |
| You can manage or freeze you card in case of misplacement through a mobile app. | The base cash back rate is only 1%. |
| Get rewards in any cryptocurrency available on the Gemini exchange. | |
| Rewards are given in real-time right after you make the purchase. | |
| You can access the digital version of your card as soon as they are approved. | |
| Get earnings on your rewards deposited in Gemini exchange. |
How Does The Gemini Credit Card Stack Up?
The features of Gemini’s MasterCard are comparable to SoFi’s credit card. The latter also lets you earn cryptocurrency through cash back rewards. However, you do not earn crypto rewards in real time in the case of a SoFi card. Instead, you must convert the cashback reward points into crypto through SoFi’s mobile application.
This credit card has several other advantages, like a three-month free trial and cellphone insurance coverage of up to $1,000. Thus, it is a great credit card to take into consideration. In addition, you can enjoy a combination of crypto earnings with regular credit card benefits. This credit card is incredibly beneficial for the ones looking to earn crypto coins in real time.
How To Redeem Rewards Of A Gemini Credit Card?
Apart from offering a credit card, Gemini is a cryptocurrency exchange platform and a wallet. The members can purchase, sell, trade, and securely store crypto coins through the Gemini platform. When you earn cashback from your purchases on the Gemini MasterCard, your rewards shall directly get transferred to the digital assets account within the Gemini exchange. You will control your rewards and what you wish to do with them. You can also transfer your rewards to other wallets, trade the crypto coins or even withdraw them to your bank account.
What Are The Potential Gemini Credit Card Deal Breakers?
The main deal breaker of this credit card for users is its unavailability outside the United States. Bitcoin and other cryptocurrencies are global phenomena, and their introduction only in one country is a severe limitation. Another potential breaker is its inability to pay off the balances with crypto directly from the Gemini exchange. Again, this is because of regulatory issues.
Finally, you must note that the 3% cash back rewards are only available during your dining experience. The base cash back rate is only 1% which is less than the expected rate. In addition, you must know that various other debit cards offer higher cash back rewards. But these high rates are only available for people willing to stake their proprietary crypto token attached with a debit card.
Who Are The Best Gemini Card Users?
The Gemini MasterCard is idyllic for people who already know cryptocurrency or the ones who believe in the lucrativeness of crypto investments. However, anyone who wishes to earn cryptocurrency passively can also opt for the Gemini card. It is an attractive option for those more concerned with crypto coins and less with the additional bonuses and incentives.
Gemini Credit Card: At A Glance
| CARD TYPE | Credit card |
| COST | $0 |
| FUNDING METHODS | Same as the Gemini exchange |
| CRYPTOCURRENCIES SUPPORTED | Bitcoin, Ethereum, Zcash, USDC and 60 other crypto coins |
| REWARDS | 1-3% cash back rewards in cryptocurrency |
| CRYPTO BACK PERCENT | 3% on dining, 2% on groceries and 1% on all other purchases |
| PHYSICAL CARD | Yes |
| ADVANCE CASH RATE | $10 or 3% whichever is great |
Is Gemini Credit Card Best For You?
The debit and crypto credit card industry is at its peak because people get a wide range of options. In simple words, users have various options to select regarding the Bitcoin card niche. One of the most distinctive features of the Gemini card is that it is a credit card and not a debit. This itself is pretty rare in the crypto space.
The absence of an annual fee, 3% cash back on dining purchases, and a close connection with the Gemini exchange stand out this card from the rest of the credit cards. It is a desirable option as you will be able to earn rewards in any crypto coin listed on the Gemini exchange. The main three key features are good to pass up your requirements.
While selecting a credit card you need to make sure that the company is reliable and provides safe infrastructure to its users. Gemini is a big name in the world of crypto. So yeah its reliable. Still if you have second thoughts about it, consider Xbo’s effort in security, it employs military grade security and provides safe infrastructure for crypto trading. It’s an upcoming exchange, and as of now looking for a brand face. So, if you are an owner of Bored Ape NFT then enrol your Ape in the audition here and stand a chance to win $100,000.
The Bottom Line
Undoubtedly, Gemini credit card has managed to give its users an upper hand for the best use of credit cards. Along with this, it is also offering real-time crypto earning rewards. With world-class security and up to 3% cash back on dining experiences, the Gemini card indeed has an appeal.
