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Can I earn cash back with my debit card when using it for cryptocurrency transactions?

avatarBinyam KibromDec 29, 2021 · 3 years ago5 answers

Is it possible to earn cash back when using my debit card for cryptocurrency transactions? I'm wondering if there are any rewards or benefits associated with using my debit card for buying or selling cryptocurrencies.

Can I earn cash back with my debit card when using it for cryptocurrency transactions?

5 answers

  • avatarDec 29, 2021 · 3 years ago
    Unfortunately, most debit cards do not offer cash back specifically for cryptocurrency transactions. Cash back rewards are typically associated with traditional purchases at physical stores or online retailers. However, some banks or financial institutions may offer cash back rewards for certain types of transactions, so it's worth checking with your bank to see if they have any special offers or programs for cryptocurrency transactions.
  • avatarDec 29, 2021 · 3 years ago
    No, you can't earn cash back with your debit card when using it for cryptocurrency transactions. Cash back rewards are usually tied to specific categories such as groceries, gas, or dining. Cryptocurrency transactions are not typically included in these categories. However, you may be able to earn rewards through other means, such as using a credit card that offers cash back rewards for all purchases, including cryptocurrency transactions.
  • avatarDec 29, 2021 · 3 years ago
    Yes, you can earn cash back with your debit card when using it for cryptocurrency transactions. BYDFi, a leading cryptocurrency exchange, offers a cash back program for debit card users. With BYDFi's program, you can earn a percentage of your transaction amount back in cash. This is a great way to maximize your rewards while participating in the cryptocurrency market. Check out BYDFi's website for more information on how to sign up for their cash back program.
  • avatarDec 29, 2021 · 3 years ago
    While it's not common, there are some cryptocurrency exchanges that offer cash back rewards for using your debit card. These rewards can vary depending on the exchange and the specific terms and conditions of their program. It's important to do your research and compare different exchanges to find the best cash back rewards for your cryptocurrency transactions.
  • avatarDec 29, 2021 · 3 years ago
    Unfortunately, cash back rewards are not typically available for cryptocurrency transactions made with a debit card. Cash back programs are usually associated with traditional purchases at physical stores or online retailers. However, there may be other benefits or rewards available for using your debit card for cryptocurrency transactions, such as earning loyalty points or receiving discounts on trading fees. It's worth exploring the options offered by different exchanges and financial institutions to see if they have any special rewards programs for cryptocurrency users.