Bitcoin is gaining wider adoption and becoming prevalent in the financial statements. As a result, more and more crypto credit card providers are offering cashback programs. And in today’s blog post, we will cover crypto credit cards that provide some lucrative cashback rewards. Let’s dive in, shall we?
What is a cashback program?
In the traditional financial world, cashback refers to credit (and debit) card transactions that administer rewards to its users whenever they shop. In a nutshell, every time a user makes a purchase, a small percentage of the amount spent is refunded to the cardholder.
This reward system found its place in the crypto space as well. With crypto cashback, cardholders can add more coins and increase their crypto balance passively, without any additional effort.
Today, there are many crypto credit card providers on the market, offering quite promising cashback rewards. Let’s take a look at the three most popular ones.
Founded in 2016, Crypto.com is based in Hong Kong, with its exchange launched in 2019. With the exchange’s credit cards offering cashback rewards, users can earn anywhere between 1-8% of the total paid in MCO tokens. In addition, the exchange recently announced that the cashback for the Crypto.com card has been increased to 8% for Obsidian and 5% for Frosted Rose Gold and Icy Whites cards. Sounds good!
Pei is a popular mobile application that links to users’ existing credit or debit card and automatically pays them with cashback for extra savings in bitcoin or USD. How does Pei work? It’s quite simple actually: all you have to do is to link your card to your Pei account. After that, when you make a purchase at a partner merchant using the lined card, Pei will automatically return you an extra 1-20% cashback rewards. Pei is a partner with a large number of retail stores. Once you install the app, you can see in which stores nearby you can use Pei.
Coinbase, one of the most popular exchanges in the industry, offers its users a Visa debit card funded by Coinbase balance. Launched in April 2019, the debit card can be used to spend a user’s crypto balance on the exchange without the need to move funds to a bank account. Coinbase is offering up to 4% cashback from purchases with the card. The users can opt to earn 4% back in Stellar Lumens (XLM) or 1% back in bitcoin (BTC).
There you go, three crypto credit cards that can bring you cashback rewards.
Cashback rewards are a great way to earn additional passive crypto income. And who knows, with BTC on the rise you might want to start spending some. There are many options on the market. We hope we managed to help you with choosing the best option for you. And don’t forget to choose wisely.
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