A few summers ago, I was ordering lunch through Grubhub while working long days at the office. When ordering, I always made sure to sign in stupida Bitcoin rewards platform with a browser extension, so I can earn rewards on my purchases.
I eventually stopped eating out so much and started cooking at home, and over time, I mostly forgot how I used to stack up daily purchases with Lolli. However, I recently checked my wallet and found 312,770 SATs whose value had risen to $220 at the time of writing this article.
Going through my transaction history, I found that the majority of my Lolli purchases were through Grubhub.
The Bitcoin rewards I earned from my ~$20 lunch purchases are currently worth $3-4 each. As the price of Bitcoin continues to rise, it’s strange to think that the rewards you’ve earned will one day be more valuable than the purchases you made to get them…
Honestly, it sounds like the greatest financial hack ever.
Then I remembered I had an account foldanother Bitcoin rewards app. I logged into my account and found 300,416 SAT, currently worth $226, sitting in my wallet there. I also saw that I had accumulated my total earned rewards of 1,057,710 sessions, currently worth $750, using Fold. Again, all this for the sake of doing nothing but making daily purchases.
Why did I stop using these products? I guess I was lazy and now I’m beating myself up over all the extra bitcoins I could have accumulated if I continued using these platforms – especially through a bear market…
This is when I realized the genius of these platforms: they do not require customers to go out of their way to obtain Bitcoin. They just let them live their lives and get the rewards. They do this so that no real behavior change is required, and people don’t have to invest their hard-earned dollars to get some Bitcoin.
Most Bitcoin companies cater to a very niche and more technical market. But using these products makes me think there is another way to attract people to Bitcoin. Bitcoin rewards apps are a smart gateway that my friends who don’t care about Bitcoin probably think it’s really cool and might be interested in using it to stack their first rewards.
Although I wish I could go back in time to a bear market and return all of my daily purchases using the Bitcoin Rewards platform, I can’t.
However, I can control my actions today and moving forward — so I’ll be downloading these apps again. You should too.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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