Nothing New Here: Gemini Rebrands Existing Credit Card as “Bitcoin Innovation”
The post Nothing New Here: Gemini Rebrands Existing Credit Card as “Bitcoin Innovation” appeared on BitcoinEthereumNews.com.
The Winklevoss brothers are making a considerable fuss about their “Bitcoin Credit Card” launch, complete with custom Cybertrucks, appearances at Bitcoin Vegas, and breathless marketing copy about “unlocking the next frontier of personal, financial, and creative freedom.” But beneath the orange-tinted hype lies a simple truth: there’s nothing actually new here. The so-called Bitcoin Credit Card is identical to Gemini’s existing credit card that has been available since 2021 – same rewards structure, same terms, same issuer, same everything. The only tangible difference? An orange card design option and some Bitcoin-focused marketing materials. You’re right Tyler, Michael Saylor is rich so he won’t miss a payment. But for any of you who can’t pay it back – the standard variable APR for cash advances is 30.24% and the variable penalty APR is 34.24% which may be applied if you make a late payment. Same Card, Different Color So let’s go through it. Gemini’s existing credit card already offered 4% back on gas and EV charging (up to $300 monthly spend). It offered 3% on dining, 2% on groceries, and 1% on all other purchases – with rewards available in Bitcoin, Ethereum, or over 50 other cryptocurrencies. The “new” Bitcoin Credit Card offers exactly the same rewards structure and cryptocurrency options. Exactly. Both cards are issued by WebBank as Mastercards, both have no annual fees, both offer instant crypto deposits to Gemini accounts, and both feature the same security-first design with card numbers accessible only through the mobile app. Oh wait – there is one difference. The Bitcoin Credit Card does come with access to “World Elite Mastercard benefits”, compared to the standard World Mastercard tier of the regular card – but this appears to be the only substantive difference between the products. And really, it’s nothing. Some discounts of Lyft,…
Filed under: News - @ May 29, 2025 1:27 am