14% of Americans want crypto rewards for using their credit cards-
14% of Americans want crypto rewards for using their credit cards-
In recent years, prepaid cards that offer rewards in cryptocurrency have gained in popularity, and a number of payment cards for digital assets offer these types of rewards. This means that consumers receive crypto -assets with the card instead of collecting frequent flying miles or points. A current study with 1,011 Americans shows that 14% of the credit card users based in the USA would like cryptocurrency premiums from their credit cards.
Percentage of US citizens prefer Crypto Asset Card Rewards
It was a few years ago that the first prepaid payment cards were introduced in digital currency that can be charged with crypto-assets to make purchases. There are now a number of different crypto-infused cards because some of them use the Mastercard payment network and others use Visa's payment infrastructure. After the introduction of some different types of cryptoc cards, companies began to add cryptocurrency premiums to the card users for every purchase.For example, Blockfi credit card users can receive up to 3.5% Bitcoin ( btc ) back to purchases. The credit card issued by Crypto.com pays the card user rewards in Cro for every purchase. A current study by couponfollow.com and the author of the report, Marc Mezzacca, indicate that a significant percentage of Americans crypto rewards from their cards wish. The results of Couponfollow show that the generation, which is referred to as "Baby Boomer" (generally defined as people who were born between 1946 and 1964), has an average of three credit cards.
gen Xers (born between 1965 and 1979/80) and Millennials (born between 1981 and 1994/6) have four cards. Gen Zers (born between 1997 and 2012), who took part 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 premiums from their credit card". The study also says:
millennials and genes Zers (15 %) wanted more than twice as often as Baby Boomer (7 %) rewards in cryptocurrencies.
Paying with cash is a "rare occurrence"-interviewed the younger generation and with low household income used frequent credit cards during the COVID-19 pandemy
According to Mezzacca, credit cards are the most popular choice when it comes to paying goods and services, and credit cards are followed by debit cards. Using cash to pay things was a "rare event" these days. The reason why the respondents use card payment services today are premiums and cards without annual fees.
The Coronavirus pandemic was also mentioned in the study and it was said for half of the survey participants that the use of the card was approximately the same. About a third of the respondents stated that the use was higher due to Covid-19 and "the younger the generation/the lower the household income, the higher it," said the researcher of CouponFollow.
What do you think of the card study that shows that 14% of Americans want crypto-asset rewards from your payment cards? Let us know your opinion on this topic in the comments below.
Photo credits : Shutterstock, Pixabay, Wiki Commons, Couponfollow.com report