Airline Miles, travel rewards, and cash back have been the primary credit card rewards for a long time – but it’s time for them to move aside. Welcome bitcoin rewards!
Using a debit or credit card that offers bitcoin rewards is an easy way to stack Sats!
Sat (Satoshi) is the smallest denomination of bitcoin, similar to a cent. Stacking Sats means to accumulate more and more bitcoin over time.
I’ve retired all my old credit card rewards in favor of bitcoin cash back (I used to primarily use Alaska Airlines miles, and IHG Hotel credit card rewards points).
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Best Bitcoin Rewards for Amazon
I use Amazon, a lot – so getting the most possible rewards for Amazon purchases is really important to me.
I’ve found that the Fold Visa Debit card is the absolute best rewards system for Amazon purchases.
Currently, Fold is only available as a debit card, and does not offer a credit card option. However, they have a credit card launching soon, and existing debit card accounts will be upgradeable to a credit account if desired.
Here’s how it works. The best Amazon strategy is to use the Fold App to buy Amazon gift cards. Using this method, you earn a minimum of 5% cash back (in bitcoin).
On top of the 5% base rate, you also get to spin the rewards wheel to stack an extra reward on top of the base.
To be clear, I really don’t like the Fold app’s gamified spin wheel, BUT the numbers don’t lie. This is the absolute best way to earn rewards on Amazon purchases.
In my experience, you can spin a minimum reward of ~1.5% every time, bringing your total reward up to about 6.5%.
They also have a system of re-spins, so if your spin lands on a lower reward the first time, you can usually spin again. Occasionally, you can spin an even higher reward.
There’s a monthly Amazon max of $500 at the 5% base rate. (You can purchase more, but after the first $500 you earn ‘only’ 1.5% with no max.)
Because I use Amazon to make a lot of routine purchases, I typically buy a $500 Amazon gift card on the 1st of every month.
On my most recent Amazon gift card purchase (September 2021), I earned the 5% base rate, and then spun a 10% extra reward! This earned me a total of 15% bitcoin reward on my $500 Amazon gift card.
Yes, I earned 158,878 sats or $75 in bitcoin from my Amazon gift card purchase. If you’re reading this months or years later, 158K sats is likely worth drastically more than $75.
You can also earn up to 100% cash back, or 1 full bitcoin with the spin wheel. This is obviously extremely rare, and I’ve never spun either reward.
Other Rewards With Fold
Buying gift cards inside of the Fold App is the best way to earn the highest rewards. This is because you can earn a base reward, plus spin to stack an extra reward onto of the base.
The Fold App has a good selection of gift cards from lots of different restaurants, retail stores, department stores and of course – Amazon.
You can also use the Fold Visa Debit Card to make purchases in stores, or online. With regular debit card purchases, there is no base rate of earnings – you just earn whatever reward you get with the spin wheel.
A downside to this system is that you have to remember to spin the rewards wheel for every transaction within 24 hours, otherwise you get no reward at all.
If you’re interested in earning the highest possible rewards on Amazon purchases (and more), please use my sign up link: Get started with the Fold App.
Credit Card Rewards For Everyday Purchases
Although I love using Fold for Amazon, I use the BlockFi rewards credit card for all my everyday purchases.
With the BlockFi Credit Card, you’ll earn a simple and easy 1.5% cash back (in bitcoin) on all purchases, with no limits.
In addition to their credit card, BlockFi is a great place to buy, store, earn interest, and borrow from you bitcoin holdings (crypto loan). Stay tuned for a full review on BlockFi in the future.
Right now, BlockFi has a promotional signup bonus where you can earn 3.5% on all purchases for the first 3 months. If you’re interested in learning more, and taking advantage of this promotion, please use my link: BlockFi – Buy, Hold, Earn, Borrow!
To learn more about bitcoin, get started here: What Is Bitcoin? This goes over all the basics about what bitcoin is, why it’s special, and why you should consider adding it to your portfolio.
Check out all my other articles here.
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