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The future of cashback: Companies adopts crypto back rewards for card purchases

Receiving cashback from your credit and debit card purchases has been a long-time benefit for credit card users. However, crypto entered the scene as projects start to implement crypto back rewards for card purchases.  Back in 2021, BlockFi launched a Visa-backed Bitcoin rewards card as a way to welcome users into the crypto ecosystem. With the card, users can get 1.5% back in Bitcoin (BTC) instead of other rewards like cashback or miles. In the same year, Venmo also employed mechanics that allows users to buy crypto with their cashback rewards. A program called Cash Back to Crypto allowed credit card users to spend their cashback rewards on crypto-assets like BTC, Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Some companies started to follow the trend and integrated new cryp...

The future of cashback: Companies adopts crypto back rewards for card purchases

Receiving cashback from your credit and debit card purchases has been a long-time benefit for credit card users. However, crypto entered the scene as projects start to implement crypto back rewards for card purchases.  Back in 2021, BlockFi launched a Visa-backed Bitcoin rewards card as a way to welcome users into the crypto ecosystem. With the card, users can get 1.5% back in Bitcoin (BTC) instead of other rewards like cashback or miles. In the same year, Venmo also employed mechanics that allows users to buy crypto with their cashback rewards. A program called Cash Back to Crypto allowed credit card users to spend their cashback rewards on crypto-assets like BTC, Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Some companies started to follow the trend and integrated new cryp...