Still Into Crypto?

I've all but left the crypto world.  Almost.  Mostly.  Right now, I've just got the tips of my toes in there a little.  If you're interested, you can read about that here.  Anyway, now I collect Bitcoin in little bits, here and there, then deposit it in 1 place for a 4% compounding return.  I talk about the 4% APY staking in that link above.

One of the ways I "passively" collect Bitcoin is through cashback credit cards.  I have two of them.  These are the only ones I really know anything about, but I'm sure there are more. 

This is the first one I got into about 3 years ago.  Actually, that's not quite accurate.  I started using Shakepay about 3 years ago, then they added a cashback credit card to their offerings about a year and a half ago.  Something along those lines.  Shakepay is awesome at what they do.  They were initially a gateway between fiat (cash) and crypto.  They were the only ones I really trusted and had zero issues with using when it came to converting Canadian $ into BTC or ETH.  Then, when the crypto market crashed, and I got out of there with my tail between my legs, I used Shakepay to get my money back out of crypto and into my bank account. 

I see that I'm rambling.  Sorry about that :)  So, back to their cashback credit card.  Here's the card in a nutshell:

• it's a 1% cashback card on all purchases, with no exceptions
• you also earn an additional 1% on your first $5000 worth of purchases
• it can be added to Google Pay or Apple Pay
• the app is available on both Android and Apple phones 
• there is no physical card yet
• it does have a "round up" feature to collect Bitcoin a little faster on each purchase
• it's a prepaid Visa card, so you do have to keep a Canadian $ balance in there
• you use Interac e-Trasnfers to get money to and from your bank

Shake it!

Shakepay does have another cool feature.  You can literally shake your phone once a day to earn some free Bitcoin.  The amount you get depends on whether or not you've been using the credit card recently, and if you've been shaking your phone daily.  If you're consistent about shaking your phone every day, while using your card a bit, then you'll receive more Bitcoin on each daily shake.  

ShakeSquad

As another way to make a little extra Bitcoin, you can create a "ShakeSquad" with up to 4 other "shakers".  With that, everyone in the squad gets 42 satoshi when a member uses their Shakepay Credit Card.  If you do happen to signup and are looking for members, you are welcome to invite me.  My Shakepay ShakeTag is @lafredet

Refer a Friend

Lastly, if you refer or invite friends.  You'll both get $5 when your friend buys $100 worth of crypto.  If you are interested, you can join Shakepay through my referral link here. 

This is the most recent Bitcoin cashback credit card I've started using.  I've been with Wealthsimple for over a year, and they are amazing as my main bank.  With them I've got a saving's account that pays 4%, an RESP for my daughter's education fund, a managed TSFA account, and a self-managed TFSA account.  The self-managed TFSA account is where I do all of my investing.  If you are interested, you can read a bit about that here.  I use this credit card whenever a physical card is required.  I've also got it tied to some regular bill payments and websites.  That sort of thing.  So, the card in a nutshell:

• it is also a 1% cashback card on all purchases, with no exceptions
• it can be added to Google Pay or Apple Pay
• the app is available on both Android and Apple phones 
• there is a physical card
• it also has a "round up" feature to collect Bitcoin a little faster on each purchase
• it's a prepaid Mastercard, the balance you keep is actually your Wealthsimple savings account, so you also earn interest on it
• you can use Interac e-Trasnfers to get money to and from your external bank

Cashback Anyway You Like!

With Wealthsimple, the cashback rewards actually has a lot of flexibility.  You can get convert the rewards into any supported cryptocurrency.  Or, you can have the rewards applied to an existing investment account, like a TFSA or RRSP, or just a regular trading account. 

The only "drawback" with this cashback system is that when it's being converted into crypto, it will only be converted if the cashback amount is over 1$.  Otherwise, it'll be added to your cashback account as cash, which you could convert to crypto later if you choose.  For this reason, I use my Shakepay card for most small purchases or whenever it's convenient, and this one for bills and larger purchases.

Refer a Friend

If you refer or invite friends, you'll both get a reward.  The reward is random for both of you, and ranges between $5 and $3000.  According to the site, the average reward is $10.  Around 99% of people will receive less than $50.  But, of course, you never know :)  The referral bonus is only for new Wealthsimple clients.  Also, due to regulatory restrictions, Quebec residents will not qualify to receive a randomized Bonus.  Instead, Quebec residents will get a fixed amount of $10.

Wealthsimple Invite, my referral code is TZ4J9W

That's all I've got for Cashback Credit Cards.

Thanks for reading.

Lyle