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Survey: 14% of Americans Want Crypto Rewards for Using Their Credit Cards – Bitcoin News

During the past few years, prepaid cards that offer cryptocurrency rewards have become popular and many digital asset payment cards offer these types of rewards. This means that instead of earning frequent flyer miles or points, consumers are rewarded in crypto assets every time they make a purchase with the card. A recent study with 1,011 Americans shows that 14% of US-based credit card users want cryptocurrency rewards from their credit cards.

Percentage of US residents prefer rewards crypto asset cards

It has been several years since the introduction of the first prepaid digital currency payment cards that can be loaded with crypto assets to make purchases. There are many different crypto-infused cards now, as some of them take advantage of the MasterCard payment network and others use Visa’s payment infrastructure. Following the introduction of a few different types of crypto cards, companies began adding cryptocurrency rewards to card users for every purchase they made.

For example, BlockFi credit card users can get up to 3.5% bitcoin (BTC) back on purchases. The credit card issued by the firm Crypto.com rewards card users in CRO every time they make a purchase. A recent study by CouponFollow.com and report author Mark Mezcca indicates that a large percentage of Americans want crypto rewards from their cards. CouponFollow’s findings show that on average, the generation called “baby boomers” (generally defined as those born from 1946 to 1964) have three credit cards.

Survey Shows 14% of Americans Want Crypto Rewards for Using Their Credit Cards
Image via CouponFollow.com Reports.

Gen Xers (born between 1965 and 1979/80) and Millennials (born between 1981 and 1994/6) have four cards. The Gen Xers (born between 1997 and 2012) who participated in the survey have two cards. Of the 1,011 Americans who use the Amazon Mechanical Turk system, “14% of credit card users want cryptocurrency rewards from their credit card.” The study further stated:

Millennials and Gen Xers (15%) wanted cryptocurrency rewards more than twice as much as Baby Boomers (7%).

Paying with cash is a ‘rare event’ – younger generation and lower household income respondents use credit cards more during the Covid-19 pandemic

Mezcca says that credit cards are the most popular option when it comes to paying for goods and services, and credit cards are followed by debit cards. Using cash to pay for things was a “rare occurrence” these days. Rewards and cards with no annual fee are the reasons why respondents are increasingly taking advantage of card payment services these days.

The study also mentioned the coronavirus pandemic and said that for half the survey participants, card usage remained almost the same. Nearly a third of respondents said the use was higher due to Covid-19 and “the younger the generation/the lower the household income, the higher it was,” said the researcher at CouponFollow.

What do you think about a card study that shows 14% of Americans want crypto-asset rewards from their payment cards? Let us know what you think about this topic in the comment section below.

Tags in this story

14, American, Baby Boomer, BlockFi, Card Payments, Cash, CouponFollow, CouponFollow.com, Credit Card, Crypto, Crypto Rewards, Crypto.

image creditReport : Shutterstock, Pixabay, WikiCommons, Couponfollow.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any materials, goods or services mentioned in this article.

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