How To Earn Cryptocurrency Rewards
If you’re looking to increase your crypto holdings, programs that allow you to earn cryptocurrency rewards are probably of interest. The number and type of crypto rewards programs continue to increase. You can earn crypto rewards by staking, by using prepaid and credit cards that give crypto rewards, by joining loyalty programs that offer crypto rewards, and even by learning more about crypto!
Here we share some of the best ways to earn crypto rewards.
What are Cryptocurrency Rewards?
Cryptocurrency rewards are just what they sound like: rewards in the form of cryptocurrency. With so many types of crypto, rewards can come in many different forms.
One example is crypto credit card rewards. With a traditional rewards card you use your card to make eligible purchases and are rewarded with cash back or points. The cashback rate or amount of points you receive is based on several factors, which may include the spending category the purchase falls under, and how much you have spent on the card.
Rewards on crypto cards are similar. Eligible purchases made with your card earn you cryptocurrency or cashback/points that can be used to buy cryptocurrency.
Types of Crypto Rewards
There are many types of cryptocurrency, and as a result, many types of crypto currency rewards. Just a few examples:
Binance coin (BNB)
Bitcoin cash (BCH)
How to Earn Crypto Rewards
The main ways to earn crypto rewards today are:
Credit, debit or prepaid cards
Staking is popular with investors hoping to profit from crypto assets in the long run. With staking, you will need to own a cryptocurrency that uses “proof of stake” validation. In that type of system, you may become a “validator,” allowing your crypto assets to be used to verify other transactions. When you do, you can earn rewards.
The rate of return will be listed as an APY, but it’s not typically an interest rate paid in US dollars; instead you’ll earn rewards in the form of more crypto. Typically validators need a minimum number of coins and approval to stake. If your holdings aren’t sufficient, you may be able to go through a cryptocurrency exchange or cryptocurrency platform where your crypto is pooled with others.
2. Card Rewards
Credit, debit, or prepaid cards that give crypto as a reward, or that give cash back or points you can use to buy crypto are growing in popularity. Business owners with high spend are in a particularly good position to benefit from credit card reward programs. We’ll share the best ones in a moment.
3. Loyalty Programs
You may also be able to join a loyalty or rewards program that gives free cryptocurrency as the reward for purchases made with certain retailers or restaurants. At the moment there aren’t a lot of companies offering crypto rewards as a part of their loyalty programs, but the number doing so will likely increase in the future.
One company using a crypto rewards program is Landry’s, which owns the Rainforest Cafe and Bubba Gump Shrimp Co, among others. Individuals who sign up for the Landry's Select Club program earn a point for every $1 spent. You can choose to receive your rewards as Bitcoin points. You can then redeem those rewards as Landry’s Select Club rewards.
Lolli offers cashback or Bitcoin when you shop with one of their associated retailers online. It can be a fairly easy way to earn bitcoin for shopping online.
4. Unique Opportunities
There are a variety of other opportunities to earn crypto that don’t fall neatly into the buckets above. For example, Coinbase Earn allows crypto beginners to earn small amounts of crypto rewards if they watch educational videos and take quizzes about crypto. It also offers a referral reward of $10 in Bitcoin. Since Coinbase is a crypto exchange, it hopes that as people learn about crypto they will want to invest in coins and tokens through their platform.
And there are many companies developing crypto projects offering a variety of opportunities to earn rewards. For example, there are a number of metaverse tokens that allow players to earn crypto rewards for a variety of activities such as creating games, NFTs and other digital assets. Rewards may be used within a certain game or marketplace, or in the case of play-to-earn games, they may be used outside the game.
The Best Crypto Rewards Programs in 2022
If you’re new to crypto, Coinbase Earn and Lolli are two low risk ways to earn crypto rewards.
However, if you’re serious about earning crypto you’ll likely want to look into credit cards offering crypto rewards as it provides opportunity to earn significant rewards, typically without staking. Here are the credit cards offering the best rewards programs.
Brex Credit Card
Brex is a corporate card that offers rewards in the form of points, ranging from 1 to 8 points per dollar, based on the spending category and with bonus points for meeting certain milestones. You can buy Bitcoin or Ethereum with your points. A max of 1 million points may be used toward crypto. (You will need a Coinbase crypto wallet.)
The following cards are consumer credit cards, not business credit cards.
SoFi Credit Card
The SoFi credit card lets you earn points on eligible purchases, which can then be used to add crypto to your SoFi active nvest Account. (You’ll also need a SoFi Crypto Account.) You get an unlimited 2% back on eligible purchases. Currently, there are only two types of cryptocurrency offered: Bitcoin and Ethereum. This card is for personal use; it is not a business credit card.
Venmo Credit Card
You can earn 1-3% cashback with the Venmo credit card. You can then use your cash back to buy one of four cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, or Litecoin. If you end up purchasing crypto through Vemo using your cash back rewards certain transaction fees will be waived.
Blockfi Rewards Visa Signature Credit Card
With the Blockfi Rewards Visa you can earn 1.5 cash back in crypto rewards. During the first 90 days you earn 3.5%, capped at $100 in Bitcoin. You earn 2% rewards rate on annual spend over $50,000.There are many cryptocurrencies to choose from.
Crypto.com Visa Prepaid Debit Card
The Crypto.com Visa Prepaid Debit card requires staking. The card you select and the CRO amount you stake will determine your card tier and the associated reward levels, which range from 1-8%. Along with the CRO tokens you earn, you can also get reimbursements for certain services such as Spotify.