A new type of credit card is aiming to pay to its users crypto rewards instead of the typical ‘cashback’ rewards offered by the traditional credit cards. Blockrize, a San Francisco based startup has declared this news that they aim to pay the customers a 1% crypto back rewards in BTC and ETH. The imagination behind the invention of this credit card is of a twenty-five-year-old named Thomas Harrison. He intends to build this credit card Blockrize that offers a line of credit and pays its users back to 1% in cryptocurrency rewards for every single purchase they do.
Thomas Harrison was formerly the head of operations for the now-defunct Whatsgoodly app. The app was capable to offer the customers various types of online polling. Harrison during an interview with the financial news outlet Market Watch said that the card already has successfully caught the attraction of more than 2000 individuals on the waiting list. The website of the Blockrize credit card revealed that the traditional reward cards per month can earn $150-300 cash back with an expenditure of $1250. If someone would have used the same amount in 2017 with the crypto reward cards they would have earned $998 in BTC $2487 in ETH.
In the meantime, Harrison is the only full-time employee who is running the entire Blockrize day to day operations. However, he was working with other companions as well which included Shogun Enterprise’s lead Fintech engineer Zak Allen, the peer-to-peer marketplace cofounder of Opensea.io Alex Atallah, and Jonathan Gelfand, managing partner at Card Linq. Thus these people are the entire working team of Blockrize.
But since we know that the ups and downs in the prices of cryptocurrency on the regular basis is very common. So according to Harrison, some people might not like the volatility involved with their summing rewards in case the prices go down. Thus he commented that he does have doubts that some people might get upset with this fact.