Gemini Launches 4% XRP Cashback Rewards for Credit Card Holders
Gemini Crypto Exchange Offers Cashback in XRP with Its Credit Card
Gemini, a well-known cryptocurrency exchange, has launched an enticing offer for users of its credit card. Those who make purchases will now be able to earn up to 4% cashback in XRP, a popular digital currency. This initiative has been highlighted by Tyler Winklevoss, co-founder of Gemini, who encouraged the XRP community to take full advantage of this opportunity.
Overview of the Offer
Tyler Winklevoss recently reached out to the XRP community via social media to promote the cashback offer. Whenever users swipe their Gemini Credit Card, they can earn rewards in XRP. This announcement serves as a reminder that users can receive XRP cashback, reinforcing the connection between conventional spending and cryptocurrency rewards.
Background of the Gemini Credit Card
Gemini introduced its credit card in 2022, following a collaboration with Mastercard in the previous year. The credit card functions like a standard Mastercard but includes the unique feature of providing cashback in cryptocurrencies. Users can earn rewards in a variety of digital currencies, including Bitcoin, XRP, and more than 50 other cryptocurrencies. In August 2023, Gemini included XRP as part of its cashback program, enabling users to earn XRP whenever they shop with their credit card at any Mastercard-accepting merchant.
How to Participate
Interested users should first verify if they are eligible for the cashback offer, with eligibility primarily dependent on their credit scores. Once confirmed, users can apply for the Gemini Credit Card and might receive approval by June 30, 2025.
New cardholders can earn up to $200 in XRP cashback rewards if they spend at least $3,000 within the first 90 days after getting the card. The rewards are deposited directly into the users’ trading accounts, allowing them to benefit from any potential increase in XRP’s value.
Cashback Reward Categories
Gemini has established different reward categories based on how users utilize their credit cards:
Gas and EV Charging: Users can earn 4% back in XRP when refueling their vehicles at the pump or charging their electric vehicles. This rate applies to up to $200 in monthly spending.
Gas Purchases Beyond $200: After reaching the $200 monthly cap, users will earn 1% back in XRP for additional gas purchases.
Dining Expenses: Users can earn 3% back in XRP when they dine out.
Grocery Shopping: Users earn 2% back in XRP on grocery purchases.
- Other Purchases: For all other transactions, users receive 1% back in XRP.
Additionally, several other exchanges, such as Uphold, WhiteBIT, and Bit2Me, have introduced similar programs focused on XRP, indicating a growing trend in the cryptocurrency market.
Implications for XRP Adoption
The cashback reward initiative from Gemini signifies a broader effort to enhance the utility of XRP. By making it easier for everyday consumers to earn XRP through their regular spending, the initiative promotes the adoption of the cryptocurrency. As more individuals collect XRP through their purchases, it is likely to foster greater interest and activity in the XRP ecosystem.
This initiative reflects the increasing acceptance and integration of cryptocurrencies in daily financial transactions, making digital currencies more accessible to a wider audience. As users recognize the benefits of earning crypto rewards, it may further drive the popularity and usage of XRP in everyday life.
