BlockCard Cryptocurrency Debit Card Rewards Spike to 6.38%

Crypto debit card BlockCard, built by blockchain company Ternio, has increased user rewards to almost 7%. 

“Starting April 14th, all BlockCard users (existing and new) will be entitled to earn 6.38% back in cryptocurrency rewards on all BlockCard purchases – with no ceiling on the amount they can earn,” Ternio founder and COO Ian Kane told Cointelegraph. “You can spend $100 or $100,000 and earn 6.38% on all merchant purchases.”

Many mainstream stores do not directly accept crypto assets as a payment option. BlockCard works like a normal debit card, except with crypto backing. The card allows users to transfer crypto to their account and then spend that crypto in card form at any location that takes major credit card providers. 

Kane confirmed BlockCard is only open to U.S. residents at the moment. Ternio, however, has its eyes set on European availability later in 2020. 

“In Q2 we will be launching in 31 European countries and the rewards program will be available to those…