New Credit Card Pays You Bitcoin When You Shop

A new credit card wants to help you save Bitcoin every time you buy groceries or pay for Netflix. Here's what you need to know about the Lava Card.

What Makes This Card Different

The Lava Card is a secured credit card (meaning you put money on it first, like a gift card) that gives you Bitcoin rewards instead of points or cash back. Every time you use it:

• 3% back in Bitcoin for US users (1% for international users) • 5% back at special partners like Amazon, Apple, and Netflix • No annual fees or foreign transaction fees • Works anywhere Visa is accepted

How It Works

Unlike regular credit cards where you borrow money, this is a secured card - you load it with your own money first. You can add funds three ways:

• Bank transfer (moving money from your bank account) • Direct deposit (your paycheck goes straight to the card) • Stablecoins (digital currencies that stay at $1 value, like USDC)

When you spend $100 on groceries, you get $3 worth of Bitcoin added to your account automatically. No complicated points systems or redemption hassles.

Who Is This For?

This card targets people who want to slowly build up Bitcoin savings without actively buying it. It's also useful for people who already own stablecoins (digital dollars) and want to spend them like regular money.

The company behind the card, Lava, recently raised $200 million to expand their services, which also include loans backed by Bitcoin (where you can borrow money using your Bitcoin as collateral).

The Bottom Line

If you're curious about Bitcoin but don't want to risk buying it directly, this card lets you accumulate small amounts through your regular spending. Just remember - Bitcoin's value goes up and down, so your rewards could be worth more or less in the future.

This is an AI-generated summary. Read the original article at: https://bitcoinmagazine.com/news/lava-card-launches-visa-credit-card