Earn Free Bitcoin for Shopping | Coinmiles App Review
The most formidable of cryptocurrencies, Bitcoin, has been on the move ever since the pandemic hit in early 2020. It climbed to a record-high of $63,346 on April 13, 2021, after being only $7,000 on the same date in 2020. That’s over 900% growth in just 12 months! Bitcoin created some millionaires through this massive run and as of the date of this article, stands at a solid $39,000 per BTC.
Bitcoins are predicted to hit hundreds of thousands of dollars in the near future (only predictions!), so current prices might seem attractive to investors who love extreme risk. However, spending $40,000 (CAD 47,000) to buy one Bitcoin seems like a massive commitment. And it is.
So, for us, average thrifty Canadians, Coinmiles can have some solution to owning Bitcoins and not miss on the opportunity for some serious price appreciation. In this article, we will take a look at Coinmiles app.
What is Coinmiles?
Coinmiles is a Montreal-based company that provides Bitcoins instead of cashback when you shop through their platform. As of 2021, Coinmiles have partnered with over 500 brands across Canada and internationally and gives up to 35% cashback in the form of Bitcoins.
You know how certain credit cards provide you cashback rewards when you shop using their credit cards? Coinmiles operate on the same idea. But instead of cashback, they convert the rewards to Bitcoins. So, you will be earning Bitcoins on qualifying purchases through the Coinmiles app.
Is Coinmiles Real?
I have been personally using Coinmiles for a few months and things seem pretty legit so far. I have earned Bitcoin rewards for my purchases through the app promptly. I have yet to withdraw any Bitcoins or cash though. On Apple Store, the app has an average rating of 4.4 with positive reviews. Some negative comments are instances where there were delays or even rewards not appearing in the app altogether. Contacting customer support of Coinmiles seems to resolve these issues though.
How Does Coinmiles Earn Bitcoins?
Coinmiles does not earn Bitcoins. However, they do get paid a commission for referring customers to the brands mentioned in their app. So, when a customer makes a qualifying purchase, a certain percentage of sales commission is paid to Coinmiles by the brand. Coinmiles decides to share this commission with the customer. But instead of paying cash or some other reward, they do so with Bitcoins. To pay their customers in Bitcoins promptly, Coinmiles has a chest of pre-purchased Bitcoins using their own capital.
How to Use Coinmiles?
Just visit Coinmiles and signup with your personal details on either their app or the website. That’s it! Once you log in to your account through the app or the website, you will see hundreds of vendors you can choose to shop from. Fortunately, Coinmiles is partnered with some of the famous and household brand names in Canada such as Walmart, Bestbuy, Canadian Tire, Home Depot, H&R Block, Reebok, The Source, Adidas, Joe Fresh, Under Armour, Staples, and many more. And this list is ever-growing.
Here is a brief guide on how to use Coinmiles and earn Bitcoin:
Step 01: Log in to your account on the Coinmiles app
Step 02: Search for the brand you want to shop with
Step 03: Click on the brand name or the ‘Shop’ button in front of the brand name
Step 04: Tap on the red ‘Click and Earn’ button at the bottom of the page
You will be redirected to the online webpage of the brand/company you selected.
Step 05: Do your online shopping as you would normally do. Checkout and Pay.
Step 06: Close the browser and the app after your purchase is final.
You should see the Bitcoin rewards of the relevant % in hours or 1-2 business days.
The rewards % will change from brand to brand and even products to products of the same brand. Coinmiles is pretty transparent on this regard where they show the Bitcoin reward % in front of the brand name.
If you use this referral link to signup for Coinmiles, you can enjoy a welcome bonus of 10,000 Sats (the smallest unit of Bitcoins)
How Much Bitcoins Can You Earn on Coinmiles?
Like we said, the Bitcoin rewards change from brand to brand, and below are some of the popular vendors and the reward % as at May 26, 2021.
| Coinmiles Partnered Brand/Company | Bitcoin Reward % |
| Canadian Tire | Up to 1% |
| American Eagle | Up to 1% |
| Home Depot | Up to 1% |
| Under Armour | Up to 2.5% |
| Microsoft | Up to 5.3% |
| H&R Block | Up to 5% |
| Best Buy | Up to 0.5% |
| Walmart | Up to 1% |
| AirVape | Up to 4% |
| NordVPN | Up to 20% |
| Ubisoft | Up to 1.5% |
| SHEIN | Up to 5% |
| MAC Cosmetics CA | Up to 3% |
| Reebok Canada | Up to 3% |
| Foot Locker | Up to 1% |
| Sephora Canada | Up to 2% |
| Shoppers Drug Mart | Up to 1.5% |
| SiriusXM Canada | Up to 15% |
| JustFab | Up to 10% |
The list goes on and on and the best way to find the latest brands and the latest reward percentages is to log in to your account.
How to Use Coinmiles When You Are Not Shopping Online?
If logging into your Coinmiles app sounds a bit tedious, you can link your credit cards to the Coinmiles app. Just go to your app, find your Profile, and click on ‘My Cards.’ You can easily add multiple credit cards and when you make payments through these credit cards in physical shops, you will still earn Bitcoin rewards on qualifying purchases.
What is the Value of Your Bitcoins Held in Coinmiles?
When you receive Bitcoins on qualifying purchases, your Canadian dollar to Bitcoin conversion rate will base on the purchasing price of the Bitcoins by Coinmiles. For example, your allocation of a Bitcoin might not be one that was purchased by Coinmiles today. They will have a reservation of pre-purchased Bitcoins to allocate to their customers in the future. So, your CAD to Bitcoin conversion might not be based on the price of a Bitcoin on the day of your purchase.
However, your account value will be based on the current market price of Bitcoins. So, in a nutshell, you could receive Bitcoin rewards of $10 and hold it in your account on Coinmiles. When the market price fluctuates, your account value in CAD will fluctuate along with it. Your $10 can be worth $15 or $20 or even $5 in a few days depending on how Bitcoin prices perform in the market.
Conclusion
If you are a shop-a-holic living in Canada and are interested in owning some Bitcoins, Coinmiles might be the easiest and the only ‘free’ option to do so. You make purchases just like you would do normally and instead of cash back, you get paid in Bitcoin. Since Bitcoin is very volatile and expected to appreciate in value, your small rewards could turn into big profits in the long run!
Let us know what you think of this Bitcoin reward concept in the comments below. Do you already use Coinmiles? Share your experience with everybody.
