How to Receive more Money with Bitcoin Cash Back
For those new to the crypto space, you might ask yourself why you’d opt for the uncertainty of Bitcoin cash back when you could go with sweet, cold, hard cash.
Let’s do a quick recap for those new to Pei. Pei is a mobile app that allows you to receive cash back in Bitcoin or cash from over 6,000+ brands and stores, using any of your debit or credit cards. Just like credit card rewards, Pei awards you points when you spend, which you can cash out when you’re ready. No extra steps needed, Pei cash back is automatic.
There are several ways you’re able to earn more Pei Points. Some of Pei’s other cool features include Double Dipping, meaning you can double up on the existing rewards you have with your credit cards! Save enough Pei Points and you can unlock Anywhere Cash Back to earn even more. Once you’re ready to cash out, you can choose to cash out in BTC or cash.
So now, let’s get back to why the Pei Team thinks you should cash out in Bitcoin.
Let’s give you an example:
If Awesome Brand A is has an offer on Pei to give 15% cash back, and you spend $100 with Awesome Brand A, you will receive 1500 Pei Points. If you decide to cash out, your 1500 Pei Points equals $15 USD, or as of 1:55pm on Monday, May 14th, 2018, you would receive 0.0017 mBTC. (To break this down one step further for the newcomers, this means one Bitcoin is worth $8761.64)
On the Pei app, you are able to hold (or #hodl for those already on the crypto train) your Pei points, and cash out (or #coinout as we on the Pei Team have dubbed it…) when it’s convenient for you. If your goal is to invest into cryptocurrency like you would the stock market and cash out your earnings while they’re hot, your best bet is to hold onto your points until Bitcoin is at a low purchase price (or low valuation price).
Let’s give another example for the newcomers here.
You have 1500 points on Pei, with Bitcoin valued at $8761.64. Let’s say the following week, Bitcoin has a $1k dip and is valued at $7761.64. You can cash out your Pei Points for more Bitcoin — .0019mBTC as opposed to .0017mBTC the week prior. Once we’ve transferred your points into your CoinBase wallet, you can hold your Bitcoin until the value spikes again.
Let’s say you wait two more weeks and the valuation stars align like they did in December 2017 and Bitcoin is worth $19,783.21 (hey, we are a team of dreamers after all!) Your cash out at .0019mBTC worth $15 is now worth almost $40.
Pei also supports SegWit, allowing you to cash out much quicker and see your Bitcoin funds immediately.
When you cash out in USD, your $15 goes into your bank account and stays at $15. You can always argue a bird in the hand is worth more than two in the bush, but if you want your Pei Points to get you a yellow lambo by this time next year, give it a whirl!
