Over the last decade or so, cryptocurrencies have gained significant attention as a digital currency. Cryptocurrencies are a great way to award the cashback to your user for their online shopping activities.
In a traditional affiliate cashback system, users receive cash in USD/EUR/INR. Whereas in a cryptocurrency cashback website, users receive cryptocurrencies like Bitcoin, Ethereum, Dogecoin as cashback.
Cryptocurrencies became speculative assets which attracted a lot of cryptocurrency enthusiasts to earn some free crypto with online spending.
Before diving deep into how this crypto cashback website works, let’s first understand what cryptocurrencies in general are.
Cryptocurrencies are commonly known as digital currencies and are used for peer-to-peer payment transfers. A central bank or banking regulatory authority does not issue cryptocurrencies, unlike traditional currencies.
Virtual currencies rely on a system of trust, and can also be used to purchase goods and services from handpicked companies.
The legality of digital currencies is a controversial issue, but several countries have made it legal tender.
Cryptocurrencies as a Reward in Cashback Website
In a typical cashback website, shoppers usually get traditional currency (USD / EUR / INR) as cashback or reward. Crypto cashback website is a new way to reward customers with digital currencies like Bitcoin, Ethereum, Dogecoin, Stellar, etc.
The value of crypto coins is volatile, but they’re still assets or investments for crypto consumers.
On successful purchase of products or services, the cashback system awards the earning in traditional currency, but at the same time shows the equivalent crypto coins.
Here is how the user sees their earnings in USD as well as equivalent bitcoins.
Earn Bitcoin/Ethereum/Dogecoin for free (Process)
Let’s understand how customers can earn cryptocurrencies for free (as a cashback)?
- User registers on your crypto cashback website/app/extension.
- User shops as usual from any of your partner merchants.
- Cashback is tracked in traditional currency with status as pending. In the user dashboard, it shows earnings with pending status in USD as well as Crypto.
- When the return period is over, the merchant consolidates the transactions and shares the confirmed status, the status is then updated for the user transactions too.
- Once the confirmed amount crosses the minimum withdrawal amount threshold, the users can request the payment in traditional payment.
During all these steps, we here at EnactSoft have written API integration to fetch the latest conversion rates of a Crypto and it’s shown to users. So, factoring in all the volatility, the earning in traditional currency stays stable, but the crypto amount keeps varying until the user withdraws the amount.
We propose to use FREE API https://www.coingecko.com/en/api that gets the latest crypto exchange rates.
During crypto withdrawal, you can collect users’ bitcoin addresses and transfer them using any crypto exchange.
Crypto cashback website is indeed one of the best free ways to earn Bitcoin, Ethereum, Dogecoin, or any other cryptocurrencies.
5 Cryptocurrency Cashback Websites/Apps to Earn Free Bitcoin/Ethereum/Dogecoin
Here are the best crypto rewards websites and apps to earn free cryptocurrencies and enhance your investment portfolio.
Following all websites, mobile apps and extensions are free to use. Some of them have membership plans too but you can always get started with the freeway.
#1: Lolli.com (Bitcoin)
Lolli partners with top merchants and online stores that pay them when you shop from Lolli.
Once you make a successful purchase, you get cashback in the Lolli dashboard which you can transfer to your traditional bank account or Bitcoin wallet.
There are some Lolli clone cashback solutions that can speed up the launch of your crypto cashback business. However, there are important things to consider before buying a clone cashback script. We will discuss it later in the article.
#2: BitcoinRewards.com (Bitcoin)
Bitcoin Rewards allows users to shop from more than 1500 brands and earn free Bitcoin. The site features clothing, electronics, food & drink, home & garden, and health & beauty products.
You can also download the Bitcoin Rewards extension and it will remind you to activate the cashback every time you shop from their partnered store websites.
#3: GetPeiApp.com (Bitcoin)
Pei is a mobile app that allows you to earn Bitcoin cash as a bonus with your existing debit and credit cards. They have partnered with 150,000 brands to choose your preferred brands to shop from.
#4: StormX.io: (BTC, ETH, Dai, LTC)
StormX is another mobile app that rewards people with various cryptocurrencies on successful purchases. StormX is available for both iOS and Android devices.
You can shop from 750+ available shops, and receive up to 87.5% crypto cashback.
#5: CoinRebates.com: (Bitcoin)
CoinRebates, a site that pays you with Bitcoin to use it as a “reward”, is owned by Yacko, LLC. You can do your shopping on the site as usual and pay with credit cards, PayPal, or Bitcoin.
The company has partnered with more than 300 online retailers and aims to increase more.
Why choose crypto cashback script over typical cashback script?
To understand why to opt for a crypto cashback script, let’s understand the pros of having a crypto cashback website over a typical cashback website.
As financial awareness is spreading around, more people are looking for investment or have some assets as a backup.
In the last 5 years, cryptocurrencies have seen their value surge to their highest peak. Bitcoin hits a new all-time high above $63,000 in 2021. These stats encouraged more and more people to invest in cryptocurrencies.
Also, it’s worth mentioning that the process of converting traditional money into cryptocurrencies can be quite expensive. The volatility of cryptocurrency makes it best to be cautious.
That’s where the crypto cashback website comes in. It allows people to earn Bitcoin, Ethereum, Dogecoin, etc for absolutely free. They can transfer this traditional cashback amount into their crypto wallet.
Once the value of cryptocurrencies gets high they can exchange into traditional cash or can buy goods and services accepting cryptocurrencies.
The other fact to consider for crypto cashback startups is, many people are hesitant to invest in cryptocurrency, and crypto cashback startups can bridge the gap between new users and cryptocurrency.
Crypto cashback browser extensions are extremely popular when your target market is people who shop online through desktop browsers.
Likewise, crypto mobile apps have a significant increase in revenue and a high retention rate. Crypto mobile app is also another great option to target millions of mobile users.
Launch Crypto Cashback Website, Browser Extension, or Mobile APP
There are 2 ways you can start your crypto cashback platform.
One is the crypto clone cashback solution which is basically a clone of an existing crypto cashback website like Lolli.
A clone solution like the Lolli clone cashback script has limited functionality and innovation. The use of existing designs and clone appearance is NOT the symbol of originality.
This leads to trouble ranking on SEO, poor scalability, trust factor to users, etc.
Going with a clone solution is not only a bad idea for your brand, it’s also a waste of money since you’re not adding value to your business.
Many web development companies offering crypto clone solutions because of limited knowledge in the affiliate industry and unable to visualize the actual needs.
To know more about the cashback clone solution and why it is not sustainable for serious affiliate business, refer to this detailed guide.
Any company that wants to provide affiliate development solutions must have a deep understanding of the industry, development process, SEO standards, and marketing.
EnactSoft is serving affiliate marketers with the best cashback solutions for many years now. With deep insights into the affiliate industry coupled with cutting-edge software development technologies and rich experience, EnactSoft has deployed cashback projects in over 40+ countries.
EnactSoft also helps affiliates increase their profits by providing crypto cashback websites, browser extensions, and mobile apps that are ORIGINAL (not clones).
For more information on crypto cashback solution contact at [email protected]
A crypto cashback website does not have any drawbacks over a traditional cashback system since customers can still withdraw in traditional currency.
Combine the popularity of crypto with the affiliate marketing model, and you get to expand your affiliate business to the next level.
For any questions or thoughts, feel free to comment below or contact us via the contact form.