Unsure if your crypto cashback rewards trigger tax obligations? Learn how to navigate them for stress-free crypto earning.
Cashback reward programs are popular mechanisms used by companies to reward consumer activity and loyalty, and the growth and awareness around cryptocurrencies make cryptocurrency rewards an excellent way to target savvy consumers interested in digital currencies.
Most users are familiar with successful cashback or rewards programs that offer consumers coupons or air miles to be traded for discounts, as well as fiat currency as cashback. Users typically sign up to use a credit or debit card, and depending on commercial activities performed, they get paid back either in fiat currency or points that have a monetary value and can be used within certain transactions.
