Ethbates Review, A New Shopping Portal That Pays You in Cryptocurrency

Ethbates, A New Shopping Portal That Pays You in Cryptocurrency

Ethbates is a new shopping portal that works much like other portals such as TopCashback, Ebates etc. But instead of getting cashback for your online shopping, you earn cryptocurrency. Well, you actually earn BUY (ERC20) tokens, which are worth 0.1 cents each, but those can be converted to Bitcoin, Ethereum or even Amazon gift cards. Let’s see how it works.

How it Works

The process is similar to other shopping portals:

1. Find a store and click on “Go to Store and Earn Crypto”
2. You will receive your BUY tokens up to 72 hours as Pending.
3. Once your order clears, your BUY tokens will be shown as Closed.
4. Withdraw as Bitcoin, Ethereum, BUY (an ERC20 token) or Amazon Gift Cards (more options to come).

You need to have an Ethereum address or an Bitcoin address in order to get paid. For amazon gift cards you need to enter your email. To qualify for a payment, your BUY Balance must be greater than 20000 ($20) by the end of the BUY Posting Period.

Signup Bonus

If you sign up through a referral link, you will earn 5,000 BUY tokens which are equal to $5. But as mentioned above you will need to cllect at least $20 worth in order to be paid.

Sign up here (my referral)

Conclusion

The main reason for choosing a portal is the cashback rate. I don’t think anyone will choose Ethbates just because they pay out in cryptocurrency. But it looks like they also offer some competitive rates, at least for now. They are paying out up to 6% on eBay purchases, up to 10% at Sephora or 12% at Nordstrom Rack for example. All of them highest rates, if maximized.

But instead of a percentage rate, like you usually see at other cashback portals, with Ethbates you earn a certain number of BUY tokens for spending a certain amount. For example, spend $100 on eBay and earn 6000 BUY.

Let us know if you have used Ethbates in the past or what you think of it.

HT: Miles per Day

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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