<p><img src="https://static2.businessinsider.com/image/5ffc9c3cbde805001980c337-2400/Crypto application.jpg" border="0" alt="Crypto application." data-mce-source="Nipitpon Singad/EyeEm/Getty images" data-link="https://www.gettyimages.com/detail/photo/close-up-of-hand-using-mobile-phone-with-bitcoin-royalty-free-image/925840444'adppopup=true"></p><p></p><bi-shortcode id="disclaimer" class="mceNonEditable" data-type="pfi"> </bi-shortcode><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Another day means <a href="https://www.businessinsider.com/tesla-bitcoin-profit-101-million-cryptocurrency-investment-elon-musk-2021-4" target="_blank" rel="noopener">another headline about cryptocurrency</a>. Gemini, a cryptocurrency exchange run by the famous <a href="https://markets.businessinsider.com/currencies/news/crypto-platform-gemini-winklevoss-twins-bitcoin-ethereum-assets-custody-2021-4-1030327448" target="_blank" rel="noopener">Winklevoss twins</a>, unveiled the details of the new <a href="https://support.gemini.com/hc/en-us/articles/360055401011-How-do-I-join-the-waitlist-for-the-Gemini-Credit-Card-" target="_blank" rel="noopener">Gemini Credit Card</a> recently, and it's a simple way to rack up rewards in something other than traditional cash back, miles, or points.</p><p>The <a href="https://www.gemini.com/credit-card/waitlist" target="_blank" rel="noopener">waitlist for the Gemini credit card</a> is now open, with the card is slated to launch this summer. You don't need to be an existing customer to sign up, but when you apply, a Gemini Exchange account will be created for you.</p><p>Gemini's main competition in the space right now is <a href="https://www.businessinsider.com/crypto-unicorn-blockfi-records-350-million-dollar-raise-2021-3" target="_blank" rel="noopener">BlockFi</a>, which launched its card earlier this year. Both Gemini and BlockFi offer the usual protections of credit cards, although they have different payment network logos emblazoned on them. Gemini comes with the standard World Mastercard liability protections and a few other perks at certain merchants, and BlockFi comes with the <a href="https://www.businessinsider.com/personal-finance/visa-signature-credit-cards-benefits-perks" target="_blank" rel="noopener">Visa Signature</a> benefits. </p><p>Which one is better' I'm going to ask the same questions about Gemini's card that I considered when weighing <a href="https://www.businessinsider.com/personal-finance/blockfi-bitcoin-credit-card-waitlist-open-should-you-apply-2021-3" target="_blank" rel="noopener">the BlockFi offering</a>.</p><aside class="quick-tip headline-regular"><bi-shortcode id="disclaimer" class="mceNonEditable" data-type="pfifinancialresponsibility"> </bi-shortcode></aside><h2>Does the Gemini Credit Card have an annual fee'</h2><p>Nopeand this is one of the big points of differentiation from BlockFi. While BlockFi charges a $200 annual fee, Gemini has no yearly fixed price. With BlockFi, the $200 fee feels like a real drag on the potential for earning.</p><bi-shortcode id="related-article-module" class="mceNonEditable" data-type="5b55fa61730ff22f008b45b4" data-title="The best no-annual-fee credit cards of May 2021" data-url="https://www.businessinsider.com/personal-finance/best-no-fee-credit-card" data-thumbnail="https://i.insider.com/5e4ff905fee23d1e0879aa7b">Related Article Module: The best no-annual-fee credit cards of May 2021</bi-shortcode><p>Sure, you can score a sign-up bonus in the first year that offsets the fee, but for every year after that, you'll have to cough up $200. If you really want to <a href="https://www.businessinsider.com/personal-finance/best-bitcoin-wallet" target="_blank" rel="noopener">hold some bitcoin</a>, it seems easier to put that $200 directly toward your investment. So, the score here: Gemini 1, BlockFi 0.</p><h2>Are there credits or perks that apply to your everyday spending'</h2><p>As we've all been sitting at home and not traveling, many <a href="https://www.businessinsider.com/personal-finance/multiple-credit-cards-how-i-decide-which-to-keep-2021-3" target="_blank" rel="noopener">cardholders are reexamining their rewards opportunities</a> to determine what matters on a regular basisnot just when you book that vacation. The Gemini Credit Card has a straightforward bonus structure designed to work with your stomach:</p><ul><li>3% back on dining</li><li>2% back on groceries</li><li>1% back on all other purchases</li></ul><p>The dining and grocery payouts can make this card especially appealing if you're regularly <a href="https://www.businessinsider.com/personal-finance/best-credit-cards-for-dining-restaurants-food" target="_blank" rel="noopener">trying new restaurants</a> or have fairly sizable <a href="https://www.businessinsider.com/personal-finance/the-best-credit-cards-for-buying-groceries" target="_blank" rel="noopener">weekly grocery bills</a>. The 1% back on everything else, though, falls short of BlockFi's 1.5% back. We'll call it a tie, and give them both points: Gemini 2, BlockFi 1.</p><aside class="quick-tip headline-regular"><p>If you spend a lot on groceries and dining and want to maximize rewards, check out the <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="name" data-customtext="" data-shouldlink="true" data-pid="5e78ea42671de024d00cf6b6">American Express Gold Card</bi-inline-shortcode>it earns 4 points per dollar at restaurants worldwide, and 4x points at US supermarkets (on up to $25,000 in spending per year, then 1x). </p></aside><h2>What's your relationship with cryptonot just bitcoin'</h2><p><a href="https://www.businessinsider.com/what-is-bitcoin" target="_blank" rel="noopener">Bitcoin</a> is the biggest name in the world of digital finance, but there are a <em>lot </em>of <a href="https://www.businessinsider.com/personal-finance/best-crypto-bitcoin-exchanges" target="_blank" rel="noopener">other coins/currencies</a> that hold the potential for growth. While BlockFi's card currently pays rewards in bitcoin, Gemini's card offers the ability to diversify your earnings.</p><bi-shortcode id="related-article-module" class="mceNonEditable" data-type="5feb92e1edadde0d0905fb82" data-title="Bitcoin is about to change the definition of card rewards, and it's good news if you're 'crypto-curious' but afraid of risking your own money" data-url="https://www.businessinsider.com/personal-finance/bitcoin-credit-and-debit-cards-change-earning-rewards-2020-12" data-thumbnail="https://i.insider.com/5feb95dfb7ab82001943e7c9">Related Article Module: Bitcoin is about to change the definition of card rewards, and it's good news if you're 'crypto-curious' but afraid of risking your own money</bi-shortcode><p>Rather than restrict your rewards solely to bitcoin, you can choose from more than 30 different <a href="https://www.businessinsider.com/what-is-cryptocurrency" target="_blank" rel="noopener">cryptocurrencies</a>. For example, you could opt for <a href="https://www.businessinsider.com/ether-price-outlook-cryptocurrency-outperforming-bitcoin-eth-btc-2021-4" target="_blank" rel="noopener">Ether</a>the second-largest cryptocurrency, which <a href="https://markets.businessinsider.com/currencies/news/ether-versus-bitcoin-price-crypto-analysis-experts-why-2021-4-1030358382" target="_blank" rel="noopener">some analysts are more excited about than bitcoin</a>or you could get more adventurous and go for The Sandbox, a virtual world where gamers <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4" target="_blank" rel="noopener">use NFTs</a>.</p><p>BlockFi offers some extra earning power via stable coin holdings, trading, and referrals, but it's a bit more complex than earning rewards needs to feel. I give Gemini the edge for more coin options. Final tally: Gemini 3, BlockFi 1.</p><h2>How do these cards stack up again cash-back cards'</h2><p>While I think Gemini's card will beat BlockFi in a head-to-head competition, it's important to note that there are <a href="https://www.businessinsider.com/personal-finance/best-current-credit-card-signup-bonuses" target="_blank" rel="noopener">plenty of traditional credit cards</a> that still feel more valuable to have in your wallet. Rather than waiting to start earning rewards in crypto, you could pick from a variety of <a href="https://www.businessinsider.com/personal-finance/best-cash-back-credit-cards#the-best-cash-back-credit-cards-in-2021:">cash-back cards</a>, redeem your cash and buy some non-US dollars.</p><bi-shortcode id="related-article-module" class="mceNonEditable" data-type="60913fa708f6254cbe195dc6" data-title="The best credit cards to turn rewards from everyday spending into investments" data-url="https://www.businessinsider.com/personal-finance/best-credit-cards-investing-rewards" data-thumbnail="https://i.insider.com/6091802c34af8d001859ae1a">Related Article Module: The best credit cards to turn rewards from everyday spending into investments</bi-shortcode><p>For example, open a <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="name" data-customtext="" data-shouldlink="true" data-pid="5e74250bc4854077bd14edb4">Chase Freedom Unlimited</bi-inline-shortcode>, score the welcome bonus of <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="intro_bonus_display" data-customtext="" data-shouldlink="false" data-pid="5e74250bc4854077bd14edb4">Chase Freedom Unlimited</bi-inline-shortcode>, and buy some bitcoin on Gemini's platform. You could also forego the bonus route, choose the <bi-inline-shortcode id="commerce-link" contenteditable="false" data-fields="name" data-customtext="" data-shouldlink="true" data-pid="5e67d8a184159f65c42a8e05">Citi Double Cash Card</bi-inline-shortcode> to earn 2% cash back (1% when you buy and 1% when you pay off the purchase), and steadily invest those earnings in whatever crypto you prefer. </p><p>Gemini wants to answer skeptics like me and differentiate from those cash-back rewards cycles. The card delivers real-time payouts, which can make all the difference in earnings versus waiting for the end of the statement cycle.</p><p>Let's say you buy a $200 dinner on a Monday when bitcoin is valued at $54,800. You'll get those rewards immediately. If <a href="https://www.businessinsider.com/bitcoin-tops-60000-this-weekend-as-musk-tweets-to-the-moon-2021-4" target="_blank" rel="noopener">bitcoin soars</a> to $64,000 by the weekend, your rewards do, too. Of course, on the flip side, real-time could translate to really disappointing. If <a href="https://markets.businessinsider.com/news/stocks/bitcoin-flash-crash-pauses-as-goldman-sachs-announces-crypto-services-9973037" target="_blank" rel="noopener">bitcoin has a flash crash and loses nearly $3,000 in value in five minutes</a> after you pay your tab, your rewards look, well, less rewarding. </p><p><em>David McMillin has written about credit cards, mortgages, banking, taxes, and travel for the past 10 years. His goal is simple: help readers figure out how to minimize fees and maximize rewards.</em></p><bi-shortcode id="related-content-module" class="mceNonEditable" data-type="more-credit-card-coverage" data-sheetname="More Credit Card Coverage">Related Content Module: More Credit Card Coverage</bi-shortcode><bi-shortcode id="related-product-module" class="mceNonEditable" data-type="related-products-credit-cards" data-sheetname="Related Product Credit Cards">Related Product Module: Related Product Credit Cards</bi-shortcode><p><a href="https://www.businessinsider.com/personal-finance/gemini-crypto-credit-card-waitlist-open-should-you-sign-up-2021-5#comments">Join the conversation about this story »</a></p>
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