Aug 12, 2021 23:00:00

Introducing a credit card that allows you to automatically purchase crypto assets such as Bitcoin with cash back without any fees

Venmo, a mobile payment service under PayPal, announced that it will introduce a new function 'Cash Back to Crypto ' to credit cards that automatically purchases crypto assets with up to 3% cash back and no fees.

Press Release: Introducing Cash Back to Crypto with the Venmo Credit Card --Aug 10, 2021
https://newsroom.paypal-corp.com/2021-08-10-Introducing-Cash-Back-to-Crypto-with-the-Venmo-Credit-Card

PayPal's Venmo launches Cash Back to Crypto feature --Neowin
https://www.neowin.net/news/paypals-venmo-launches-cash-back-to-crypto-feature/?scrolla=5eb6d68b7fedc32c19ef33b4

Venmo crypto support expands to cashback credit card rewards --SlashGear
https://www.slashgear.com/venmo-crypto-support-expands-to-cashback-credit-card-rewards-10686079/

The newly introduced automatic purchase function of crypto assets by cash back can be used with the credit card 'Venmo Credit Card' provided by Venmo. You can see the movie that explains the outline from the following.

Cash Back to Crypto with the Venmo Credit Card-YouTube


Venmo Credit Card payments are automatically categorized into eight spending categories: Dining & Nightlife, Travel, Invoices and Utilities, Health & Beauty, Grocery, Gas, Transportation, and Entertainment. For each period, the most paid spending category will receive a 3% return, the second most paid spending category will receive a 2% return, and the other spending categories will receive a 1% return. increase.

The refund amount will be transferred to your Venmo account ...

It is automatically converted to crypto assets every month.

Cryptographic assets to be converted, the

bit coin - ethereum - bit coin cash - litecoin four.

The auto-purchase feature is enabled by turning on a toggle switch called 'Purchase crypto'. You can cancel the automatic purchase function at any time.

There is no transaction fee for purchasing crypto assets through this automatic purchase function, but a

spread (margin) is included at the time of conversion.

Since March 2021, PayPal has provided a service called 'Checkout with Crypto' that automatically converts cryptocurrency into legal tender and makes payments, and this time 'Cash Back to Crypto' further expands the cryptocurrency service. It is a shape.

'Checkout with Crypto' that PayPal can settle with crypto assets is started, and payment with Bitcoin and Ethereum is possible via PayPal --GIGAZINE

Darrell Esch, Senior Vice President and General Manager of Venmo, said, 'We are introducing this new level of interconnection to the Venmo platform and linking Venmo Credit Cards with crypto asset features to allow customers to pay and pay with Venmo. We are pleased to provide a new way to manage it. '