The cryptocurrency market is exploding with new exchanges, coins, and technologies. Cryptocurrency trading can be quite a rewarding experience, with freebies and rewards that customers can use to buy goods in the real world. Read more to explore.
Introduction And History Of Crypto Exchange
In 2009, Bitcoin – the first truly decentralised currency – was launched. When Bitcoin first emerged, it had almost no value compared to fiat currency. However, with the popularity of Bitcoin and Ethereum, the world has warmed up to the idea of trading in cryptocurrencies. The market is now flooded with more than 19,000 cryptocurrencies, so users have many options.
Crypto Cashback as a Feature Of Loyalty Programs
We witness new-age crypto platforms trying to engage users with loyalty programs and several kinds of rewards. But it is a task to understand which exchange offers genuine rewards and which doesn’t. Here is everything you need to understand crypto cashbacks.
What Is Cashback?
As the name implies, cashback is an incentive given to the user in exchange for some form of interaction with the trading platform. Although cashback is usually paid out in cash, in the world of digital money, cashback is offered in the form of cryptocurrency. Cashback can attract users to a crypto exchange platform, so many companies have begun issuing their own coin. Still, consistent returns, the cashback scheme and the quality of the platform eventually decide upon the user retention of a platform.
Many crypto exchanges offer attractive cashback benefits. Let’s compare:
Comparing Cashback On Different Crypto Exchanges
Coinbase
Approximately 98 million verified users, 13,000 institutions, and 230,000 ecosystem partners benefit from the platform in over 100 countries. For experienced crypto-investors, it also provides a Coinbase pro. The advantages of using Coinbase are an efficient mobile app and rewards like earning free crypto. Coinbase also offers a debit card.
In terms of Cashback, it provides rewards for users of up to 4% on every crypto purchase.
Binance
It is a popular cryptocurrency exchange that offers low-cost trading features, several trading options and a wide range of cryptocurrencies. In addition, Binance offers a card with which users can get Cashback on every purchase. The cashback percentage depends on your card level, and the amount of BNB held in your Binance wallet. Here are the details about Binance cashback:
Gemini
Gemini is a crypto exchange that offers users the option to acquire crypto rewards at zero exchange fees. It also provides the facility of its own hot wallet. Moreover, they have an efficient support centre. In addition, Gemini has come up with its credit card, which offers good rewards. The Gemini Credit Card provides the ability to earn cryptocurrency rewards in real-time.
Gemini offers Cashback on this card of up to 3% on dining. In addition, 2% is earned on buying groceries. An additional 1% cashback is earned on all other purchases in any cryptocurrency that can be traded on Gemini’s platform.
XBO
XBO is a soon-to-launch crypto exchange with an early access program. It is speculated to be user-friendly with intuitive mobile and web-based channels. It has presented a generous loyalty program with trading tiers based on experience points (silver, gold, platinum, diamond, and black diamond). Each XBO tier will have its own custom card. Cashback on this exchange is expected to begin at 0.1% and increase to 2% for higher tiers.
Conclusion
Various crypto exchanges are available in the market, and many have user-friendly features. Hence, many people are showing interest in cards offered by these exchanges. In addition, cashbacks and rewards may appeal to new users entering the crypto world. But eventually, customer retention often boils down to the value in terms of service that a platform provides for investors.
Each exchange has specific features and cashback benefits. You can choose the one that fits you best but also considers security and account maintenance costs. So, choose a reputed card issuer platform.
We hope this article has helped you learn about crypto cash rewards.
