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May 3, 2022

Mode Explained

Bitcoin 101

Bitcoin Cashback 101 📚

Bitcoin Cashback just levelled up, and we’re here to give you the full run-down on your new favourite rewards app.

Bitcoin Cashback

Bitcoin Cashback just levelled up, and we’re here to give you the full run-down on your new favourite rewards app.

Cashback is by no means a new concept - and likely one that you’re all familiar with already. From air miles to Nectar points - the ‘earn when you shop’ structure has been around longer than the Teletubbies, but with the birth of crypto and some pretty neat tech innovations, the entire rewards landscape has had a glow up - and for those of us on the receiving end it just keeps getting better.

If you’re a Mode user or you’ve been following our updates over the past year, you’ll already know a little bit about our cashback feature - and how hyped we are to continue growing our offerings and support our customers in every way we can to give you the best offers, and accumulate Bitcoin while at it.

For those who are new to Mode: last year we launched a shiny new cashback product called Instant Bitcoin Cashback, enabling online shoppers to earn Bitcoin when they shop at selected stores and #PayWithMode. This year, we turned up the heat and relaunched the feature with a whole new look - adding more than 100 exciting new stores to the list with brand new cashback offers exclusive to Mode customers, who can now shop to their heart’s content and pay with any payment method to receive Bitcoin Cashback after purchase.

Now, we just knew we couldn’t push out something this exciting without an equally thrilling explainer, so amidst the hype (and shopping), we put together all there is to know about Bitcoin Cashback, along with some handy tips to help you get the most out of your reward shopping.

What is Bitcoin Cashback? 💸

Bitcoin Cashback offers online shoppers cashback in (yup, you guessed it) Bitcoin every time they make a purchase with one of our listed brands and retailers, offering a way for shoppers to earn Bitcoin without having to directly buy it. Just shop as you usually would, and voila, you just earned some Bitcoin!

How can I use Bitcoin Cashback? 🛒

To get your Bitcoin Cashback, you must be a Mode customer with an active account, and you’ll need to have the latest update of the app installed on your device (available on iOS and Android).

Don’t have Mode yet? Download the Mode app and simply register to start your Bitcoin Cashback journey ⚡️

Once you’re in the app, head to the ‘Rewards’ tab to start browsing over 100 top UK brands.

When you’ve found the store you want to shop with, tap on it in-app to be redirected straight to their website. That’s it! Just shop as you usually would - we’ll do the rest for you.

Important note: make sure you only shop with the store on browser (not their store app), and have cookies enabled in your browser of choice so that our cashback wizards (the in-house tech team) can keep track of your purchase to set up your reward 🪄

How does the cashback work? 🧐

We work through advertising affiliate networks to tailor rewards to suit our users’ needs and offer new ways to accumulate the best-performing asset of the decade without having to put any of your own pennies at risk.

When you click on a store from the list, we use cookies to make a note of any purchase you make and track the transaction back to you so that we can credit your rewards straight into your account.

Bitcoin Cashback is free-to-use and available to all of our customers. When you make a purchase at any listed store in the Mode app, they pay us a commission to pay you Bitcoin as a reward.

How is your cashback generated? 🤝

With Bitcoin Cashback, the reason we’re able to offer our rewards is simple. Between you, us, and the store you shop with, everyone gets rewarded.

By connecting you with the brand you love, we’re making it easier for some of our favourite UK stores to reach their favourite customers. When you make a purchase through Mode, you get a little bit back from your shopping and can start building your Bitcoin portfolio. Through the commission the store pays us, we also receive a small fee directly from the store within the process, meaning when we pay your rewards, we also get to pay our fantastic team for their awesome work. Cool, right?

Is it safe to use? 🔒

As you’re only making a purchase directly with the store you’re shopping at, you’re not putting capital at risk or sharing any sensitive data with third parties. Any Bitcoin Cashback funds you get in your Mode Rewards account are stored securely.

Protecting our customers is a priority at Mode. If anything ever feels unclear - you can always head to our FAQ’s or chat with our support team in-app to answer your questions.

Good to know 💡

If you’ve managed to resist the urge to shop this far, here are a few handy pointers that should help you out next time you’re browsing one of our stores:

There are two types of cashback 💸

  • Bitcoin Cashback, and Instant Bitcoin Cashback. You can differentiate these by looking at the two different sections in-app. With Instant, you’ll need to Pay With Mode at the checkout on the retailer’s website to earn your cashback instantly after purchase (just be sure to click our logo on the payment screen!). With all of our other Cashback brands, you can pay with any payment method at checkout, and you’ll receive your cashback after the purchase is completed (subject to payment confirmation and returns policy of the brands).

Our offers have offers 😅

  • Each store offers different cashback rates, and you’ll see these vary anywhere from 1% right up to 12% (and more 🔥). Some of our brands offer exclusive rates on individual products, and some of our brands offer exclusive rates storewide for limited time periods - including independent sales, sale seasons, and holidays. When we’ve got exciting rates to shout about - we’ll let you know through our social channels and mailing list, but it’s always worth checking back in with us to see if a store you like has bumped up their offer.

So, what’s next? 🔮

Woah. So much said, so much left to tell you. We’ll keep this one short and sweet though 👀...

We’re continually adding more and more top UK stores to our list of cashback brands, so keep in touch with us for updates. We’ll also let you know when your favourite stores have exclusive or limited offers, so you can make the most of your shop and bulk up your Bitcoin wallet while you’re at it.

Still here? That’s all from us for now, but if you’ve got any questions send us a DM on Twitter or message our support team in-app, and we’ll get back to you as soon as we can.

Happy shopping, and happy stacking hodlers!

Withdrawal limits apply. Mode aims to ensure offers are current. Offers are set by the merchant. T&Cs apply. Bitcoin is not regulated; it can go up/down/drop to zero. No FSCS/FOS protection. CGT may apply. 18+ UK only. Read more: modeapp.com/protection. Fibermode t/a Mode is FCA registered as a Cryptoasset firm (FCA 928786). We do not offer financial advice. 

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