Best Cash Back Credit Card? - Gemini: 4% Crypto Rewards

This is the Gemini credit card. It is a solid metal card with no card numbers available in four colors that earns cryptocurrency rewards with elevated rewards rates in some of my favorite bonus categories including gas, dining, and groceries with the idea that you invest when you spend. Consider this video my full review of the Gemini credit card. And for transparency, Gemini did reach out to me to review their card, but I intend to just show you all the features and you can make up your own mind what you think. So, let's start from the beginning. Gemini is a crypto exchange created by the Winklvoss brothers. They got into crypto in a big way in the early days before it was mainstream. But the Winklvoss brothers didn't just sit on their butts and enjoy their fortune. They competed in rowing in the Olympics. And okay, that has nothing to do with crypto, but they really did do that. And then in 2014, they founded the Gemini crypto exchange. Anyway, Gemini is known for being a buy the book crypto exchange, embracing regulation rather than trying to escape it. When other crypto companies stopped serving customers in New York, Gemini stayed and operates under the New York crypto license, the strictest in the country. This is why Gemini has for many years been my favorite crypto exchange and I have long used their active trader system to buy and sell crypto. I sold pretty much all of my crypto a couple of years ago to build my Airbnb cabin, but now I'm just starting to buy back in. So, when I found out that they had a credit card, which is a master card issued by Web Bank that could earn me crypto rewards and speed up my reaccumulation of crypto, I was certainly interested. I applied for the card and was instantly approved. When I applied, there were three colors, but they recently added the new Bitcoin orange option as well. I chose the black version, so you know, it's like a black card. Oh my god, is that a black card? I chose Bitcoin as my cryptocurrency for the rewards the card earns on your spending. And yeah, I know that's kind of boring. I could have gone with Dogecoin or something fun, but in my view, Bitcoin is the most stable. And I'm actually trying to accumulate some wealth here, okay? Not just play the lottery. And just like that, my card showed up in my account straight away with a temporary virtual card number that I could use immediately. When I received my physical card, it came in this neat little envelope and you can scan the QR code which opens up the page either online in your browser or on the Gemini app for you to activate your card. All right, let's now look at what this card offers. And the most interesting for me being someone who actively aims to collect credit card rewards such as cash back and points for free travel would be crypto rewards. So first up, if you apply for the card right now, there is a $200 welcome bonus for spending $3,000 in your first 90 days. That bonus is issued in whatever cryptocurrency you choose, and the offer runs until June 30th. Then for the regular rewards you earn on the card, here are the bonus categories. 4% on gas, EV charging, transit, taxis, and ride shares, 3% on dining, 2% on groceries, and 1% on everything else. The 4% category does have a spend limit of $300 per month, and then it goes down to 1%. For me, that's not a big deal since that's actually more than I spend on gas per month anyway. And I would be looking at using this card as my gas card since where I live, I drive everywhere and rarely use ride share or anything in the transit category. But for big gas spenders or commuters who take the train every day, you may want to remember to switch to another card with gas or transit as a category once you've maxed it out. The dining and grocery categories don't have limits. And in case you were wondering, this card has no annual fee and on top of that, no foreign transaction fees, which means it can be great to bring along on international trips since it can be used anywhere in the world where Mastercard is accepted. Check out the description for more information on rates and fees. And the cool thing about earning rewards in crypto is that if cryptocurrencies like Bitcoin keep going up, and obviously if you choose GUSD for your rewards, that is a stable coin, so that won't go up. But if you choose a cryptocurrency that fluctuates in value and in general has an upward trend, like Bitcoin, then the rewards that you earn increase, too. To the moon. To the moon. If it was to rise 50%, that $200 bonus becomes $300. and that 4% that you're earning on gas now will effectively be 6% in the future. As long as you don't sell immediately, you get the rewards and you allow them to appreciate. Obviously, there are risks with this and crypto can have wild swings in value. So, just be aware of that, too. The crypto rewards are also instantly deposited in your account the moment you swipe your card rather than having to wait until the end of the billing period. And in terms of rewards compared to other cards, the gas category makes the Gemini credit card one of the top cards on the US market for gas. It also fares pretty well in the dining category, too. In addition to rewards, I really like how clearly the Gemini app displays information about your card and the functionality it has. You can see your current balance, any payment that is due. Then there is a welcome bonus tracker that tells you the date that you have to spend $3,000 by. In my case, it's July 6th, and how much you have spent so far. Then we have card settings. And if you click in here, you can see information about your card, such as the credit limit, the bonus categories, and you can lock your card if you need to as well. Then below card settings, you can see this value of rewards you have earned since you got your card and in the past 30 days. And you can change the cryptocurrency you earn rewards in as well. Below that, you have the referral program where you can get $50 worth of crypto for referring friends and $250 for every fifth referral. That is the current offer that I'm seeing at the time that I'm shooting this video. Then below, we also have a benefits and special offers section. Benefits include a $5 per month lift credit after three rides and a few other things. And the really cool security feature of the Gemini card is that there are no card numbers printed on the card itself. It literally just says my name. If you want the card numbers for an online purchase, you can get them from the card details page in the Gemini app. But no numbers on the physical card means that no one can snap a cheeky photo of your card when you're paying for something and then use those numbers to make a purchase. And YouTubers like me can show the card without having to do any blur effects. Anyway, guys, that is our look at the Gemini credit card. I am excited to use it as my gas credit card and start building up my crypto portfolio again. Obviously, I will be buying cryptocurrency, too, but the crypto I earn on purchases will certainly help. If you want to get the Gemini credit card yourself, I will include a link where you can sign up in the description section of this video. And do remember, if you want that $200 crypto welcome bonus, that particular offer runs until June 30th. Please leave your comments about this card below. Subscribe to the channel if you're new and we'll see you in the next video. Bye-bye. [Music]