Usually, most things that sound too good to be true turn out to be just that, but Revolut is giving its users a fresh way to get their hands on crypto for virtually free. It is launching its new – and rather gorgeous – metal debit card which gives holders up to 1% cash back on any purchase they make using the card in one of 25 cryptocurrencies.
That’s right, you heard us correctly, you can earn your favorite cryptos simply spending as you normally would. Unfortunately for Europeans, all transactions inside Europe will receive 0.1% cash back per transactions, while all transactions outside of Europe will reach the magical 1%. If collecting cryptos on your daily purchases isn’t quite your thing, then you might love our guide to earning cheap – or possibly free – Litecoin!
Move Over, Air Miles
Air travel is becoming cheaper, and other types of rewards are more popular with millennials as a result. This is one of the main reasons behind Revolut offering cash back in cryptocurrency. Long gone is the era of the air mile, cryptos are the new reward points of the money savvy. While 0.1% for European transactions is a bit of an insult, if you spend €1000 a month on bills, groceries, and fuel, you’ll bag yourself €1 worth of crypto that you previously wouldn’t have had.
Easy to Use Platforms are Becoming Popular
Easy to use platforms like Revolut are becoming popular with people new to the crypto world. While Revolut doesn’t let you transfer your cryptos in or out of the app, it is certainly a good place to start. The ease and simplicity in which you can buy cryptos is unparalleled, with just four taps of your mobile screen you can be holding your favorite cryptos.
In an attempt to rival Revolut, Skrill just launched its own crypto trading app, and while its user interface is sleek and simple, its offering is a little different. Instead of owning the actual crypto, instead users buy a token that is directly linked to the value of BTC or whichever crypto they decide to buy.
Change Through Change
If you are looking for an easy and simplistic way to get hold of actual cryptos – and you want to be able to keep them secure on a hardware wallet – you might want to take a look at Change. It is a similar platform to Revolut and Skrill in the sense it is easy to use, but you have the added advantage of being able to transfer your cryptos out of the platform and onto a hardware wallet. It is a powerful crypto trading platform under the hood – similar to Bitstamp or Coinbase – but with the user interface and friendliness of Revolut or Skrill.
To earn your crypto cashback with Revolut you need to sign up to their new premium account, which will set you back €12.99 a month. If you plan on using the card in Europe – and solely for the crypto cash back – chances are you’re better off just buying €13 of crypto from an exchange. While we love the innovation, Revolut has been a bit stingy with the 0.1% cash back in Europe. If Revolut bumps this up to 1%, it is most definitely the go-to card for all crypto enthusiasts.