NEW YORK—As more Americans hold cryptocurrency, will crypto credit card follow the broader market and begin offering rewards?
Fourteen percent of Americans currently own crypto, and that number may double in the next year according to a survey by The Ascent.
“One way many folks may jump on the crypto bandwagon is through their credit cards. We found that 65% of respondents (from the Ascent Study) would love a credit card with crypto rewards,” the Motley Fool reported. “Issuers must be reading the same data, because crypto rewards credit cards are becoming a reality.”
According to the report, the biggest downside to any crypto credit card rewards program would be the inherent volatility in the market, with the value of various currencies changing every day and often by big margins.
“This extreme volatility means that the value of your rewards will vary significantly, making it impossible to estimate the return on your spending,” The Motley Fool stated.