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The cashback craze has exploded in recent years with Rakuten(formerly Ebates) leading the charge with other popular apps like Ibotta and Dosh getting in the mix. The premise is simple, companies such as Rakuten have affiliate relationships with retailers. You join Rakuten and shop like you normally would. Rakuten gets a cut of the sale from the retailer for bringing them your business and they kick back a portion to you. Easy-peasy lemon squeezy.
If Cryptocurrencies (more specifically Bitcoin) are of interest to you, Lolli for Chrome is offering a relatively risk-free way to get a similar cashback experience while banking up some BTC. Like Rakuten, Lolli offers a Chrome extension and access to cashback at hundreds of major retailers from nearly every industry imaginable. When you land on an eligible website, the Lolli extension will alert you to activate cashback. When you make a qualifying purchase, the applicable percentage will be added to your Lolli account in the form of Bitcoin. It could be as little as 2% or as much as 27% depending on the store.
Once you’ve banked $15 worth of BTC, you can withdraw your earnings to a digital wallet such as Coinbase that allows you convert your currencies and cash out via PayPal or bank account. For someone wanting to get their feet wet in the wild world of Cryptocurrency, this is probably the safest bet as it requires no real investment on your part. That being said, it isn’t completely without risk. While you won’t actually be investing, the money you earn is subject to the volatility of the Bitcoin market that is known to swing hundreds and even thousands of dollars per BTC every day. If you’re willing to HODL (hold) on to your earnings, there is potential to increase your BTC but it works both ways. A major price crash could seriously decrease the value of your wallet. Thankfully, Lolli also offers a traditional cash withdrawal if you’re worried about the long-term value of Bitcoin.
Pros
- Little to no risk with zero investment
- Cashback for shopping you are already doing
- Withdraw cash or BTC
- Low, $15 cashout threshold
- A good way to get started with Bitcoin
Cons
- Crypto market can be unstable resulting in significant loss of wallet value
- Bitcoin is still limited in its usability in comparison to Fiat currencies
You can install the Lolli extension for free using the link below and start earning today.
Get Lolli for Chrome Get Coinbase Wallet
Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. Additionally, I am not recommending Bitcoin or other Cryptocurrencies as investments. I will not and cannot be held liable for any actions you take as a result of anything you read here. Do so at your own risk.
