Traditional Credit Cards Are Being Replaced By Cryptocurrency Credit Cards.

Holders of cryptocurrency credit cards are on the move. According to a new report, regular credit cards are being phased out in favor of crypto rewards credit cards. 

Other statistics include 46% of crypto credit card holders intending to use their crypto credit cards for every purchase. Furthermore, 80% believe Bitcoin will completely replace regular credit cards.

The researchers behind the survey say:

“It’s hard to imagine consumers preferring a different currency from the traditional U.S. dollar. But apparently, many of them do! We found that Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are the most preferred cryptocurrency reward coins among our study’s respondents. This is understandable since these are some of the most valuable.”

Respondents to the research say they are happy to accept various forms of crypto rewards for using their crypto credit cards as the digital currency market grows.

Non-fungible tokens are included.  According to CouponFollow, the firm that conducted the study. According to the report, 95% of crypto credit card holders are interested in obtaining NFTs as a crypto credit card reward. Most of the best cryptocurrency rewards credit cards provide digital cash back whether you dine out, shop for groceries, or purchase those concert tickets you’ve been eyeing.

The BlockFi Rewards Visa is the most popular crypto rewards credit card among the Americans polled, with 40% of them now using it. That’s understandable given that it provides over ten different sorts of cryptocurrency rewards – a bonus for all anti-Bitcoiners! Crypto.com’s Visa came in second, with some cards allowing customers to earn up to 5% back in cryptocurrency rewards.

Switching to a crypto rewards card is a popular concept. According to the survey, 46% of crypto credit card holders want to use their crypto credit card for every purchase. It’s a good thing, though, that many of them aim to spend their cryptocurrency incentives wisely: 60% plan to reinvest their cryptocurrency reward balance back into cryptocurrency.”

There are certain disadvantages. Credit card costs may be more than usual, and you may be subject to larger interest payments.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Patrick

CoinCu News