It's actually very simple: our partners pay us a commission when you purchase with them after we redirected you on their website. We then split that commission with you, and use it to buy some Bitcoin that we put in your wallet.
In short, once you click on an offer from one of our partners, you are redirected to their website. From there, as long as you purchase an item that is eligible for cashback (most items are, but exception do apply, so watch out for those), you're good to go! Everything is entirely automated. Simple and rewarding. What's not to like?
Oh - and since you're here and super interested in learning more - here's the answer to a few more questions we often get:
I made a transaction a few minutes ago and still don't see it in my wallet? Did it work?
Rest assured! In most cases, you have nothing to worry about and it worked just fine! Think of us as the messenger (and remember - you should never shoot the messenger :) ). We provide you with the information as we receive it from our partnering brands. In most cases, it will take between a few seconds and up to 2 days before a transaction is reported to us. Why? Internet being what it is, some brands have better tracking capabilities than others. And some exceptions apply: for example, a car rental will usually be reported to us once you returned the car. Same for hotels. You get the picture. We had the choice to only let you earn with brands that have implemented real-time capacity or let you earn with as many brands as possible.
That said, if you believe you have not received credit for a transaction, shoot us an email at firstname.lastname@example.org and attach the receipt of that transaction. We will follow up with our partners on your behalf.
Why am I seeing US Dollar rewards in my account even if I purchased with Canadian Dollars?
Some brands automatically convert and report the commission they pay us (and hence, that we pay you) in their own currency, be it USD or other. We relay that information back to you and pay you accordingly. For example, if you made a purchase that should give you CAD $5 in cashback, it is possible that the brand converted that amount into the USD equivalent. We will then use this USD amount to buy Bitcoin at the spot price when the purchase is confirmed by our partners.
Will I receive my Bitcoin in real-time?
Unfortunately, no. But wait! There's a reason for that, and it makes a lot of sense when you think about it: returns. Because so many items end up being returned, our system automatically buys and allocates you Bitcoin after the return period has expired. Keep in mind that all purchases have to be verified with our partners. These rewards are not confirmed (not available for withdrawal or transfer) until the return period has passed. The time this takes varies by merchant, but is typically 30-90 days after you completed your purchase. In the meantime, you'll be able to see your rewards in your wallet in your own currency.
To sum it up, Coinmiles makes it simple to earn Bitcoin for everything you need. Clothing, sports equipment, electronics, beauty, food, travel, etc. New offers are constantly added, so make sure to come back often!
If you have any questions, feel free to email us at email@example.com.
Cheers! - The Coinmiles team