There are many ways to earn cryptos nowadays, but some people think you can only get them through trading. Instead of trading or paying for your cryptocurrencies yourself, you now can earn them through different rewards programs.
The idea of getting crypto without paying for it seems appealing, but you first need to understand how to do it and the deals each platform offers. Do you want to learn how to earn crypto through various rewards programs? This is the page for you!
Read on to learn more about the matter and find out if this is something you might be interested in.
What Are Crypto Reward Programs?
Crypto reward programs are loyalty programs that reward you in cryptocurrencies instead of fiat currencies. Blockchain technology is excellent for delivering digital rewards to users, so more investors are getting interested in it as time passes.
These rewards work by giving users cash-back, and you can get them from various companies. Apart from the benefits blockchain technology offers, some businesses prefer offering crypto rewards because they attract more users.
Why are crypto rewards more popular than fiat ones? Because they give people the opportunity to start trading.
You can also get cryptocurrencies through online gambling! Some online gambling platforms allow crypto betting, so you can use your digital assets to bet on sports or play crypto slots online Bet999 is one of those platforms. Visit its website if you want to know more about how it works! You will also find other crypto-related blog posts there.
How to Get Crypto Rewards from Various Reward Programs
Not all reward programs work the same, but many of them follow the same pattern regarding how you get your rewards. The first thing you need to do is pick a crypto reward coin if the program doesn’t have a predetermined one.
After that, do what the program asks you to do to get the cashback. That can involve making payments, transactions, or anything else. Once you do that, the program invests the cashback in the crypto you picked, and then that crypto goes to your wallet.
You can use the cashback you receive however you want, so feel free to sell it, hold it, or reinvest it. If the crypto reward program you picked doesn’t have a predetermined reward coin, you can change it anytime you feel like it.
Most Popular Crypto Reward Programs
Now that you know how crypto reward programs work, we want to give you a rundown of the most popular ones online. You can try any of them and get crypto rewards, but make sure to choose the one that is best for your trading style.
There are many reward programs out there, so you can see what they offer if you don’t like the choices that follow:
Coinbase is one of the most popular crypto exchanges online, and it also offers a crypto reward program for its users. Following this crypto program may be the easiest way to get crypto rewards since you only need to learn about these currencies to get funds.
This crypto exchange wants its users to know as much as they need about crypto before investing in any cryptocurrency, and that’s the purpose of the Coinbase Earn program. This program went out in 2018, and users have received more than $100 million in crypto since then.
The only thing you need to do is to learn about crypto through the Coinbase website, often by watching short videos.
Crypto.com has a different approach to crypto rewards from Coinbase. Instead of earning cryptocurrencies by learning, debit card holders can get from 1% to 8% crypto rewards depending on how much money they stake.
This works with a Proof of Stake system that verifies all decentralized networks. When you follow this type of crypto reward, you get rewards by locking some of your holdings into a staking pool.
You can only get rewards in Cronos tokens when you go for this reward program.
Unlike Crypto.com, Gemini lets you pick your reward token from up to 50 cryptocurrencies, so you can choose the one you feel most comfortable with. Besides that, you can trade your earnings with over 70 cryptos available on the Gemini platform once you get them. When you try this reward system, you earn cryptocurrency for the purchases you make.
Credit card holders can earn up to 3% in crypto when they try this program, and people love Gemini’s reward system because its terms are more flexible than others. You can get 3% back on dining, 2% on groceries, and 1% on other purchases.
Venmo also offers rewards for eligible purchases on the app. You can get your money back in Bitcoin, ETH, or Litecoin. One of the best things about this reward program is that you can hold your earnings in your Venmo wallet directly.
However, you can transfer them to other wallets, sell them, or turn them into fiat money whenever you want.
Benefits of Crypto Reward Programs
Crypto reward programs bring many benefits to the table, and the first of them is how easy they are to integrate into existing loyalty programs. What many businesses do is use smart contracts that bring all stakeholders to the same blockchain-rewards network.
All businesses can offer standard rewards, but it’s way more appealing to hear you are getting cryptocurrencies than fiat money. Hence, companies that apply these reward programs often get new customers.
Since businesses use smart contracts for their crypto reward programs, they also spend less money on it than they would on applying for regular loyalty programs. This will reduce costs for your company.
Bottom Line – Should I Try Crypto Reward Programs?
Crypto reward programs are excellent for customers who know how cryptos work and want to invest in them. However, people who are not that into cryptocurrencies and digital assets may not be that interested.
Regardless of that, it’s undeniable that these programs offer benefits you wouldn’t get with standard loyalty programs, so we highly recommend trying them.
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