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Coinmiles Review

Last Updated: Sep 20, 2022  |  Published: Jul 6, 2021


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Coinmiles is a free rewards app that turns spending into investing. When you shop at your favourite stores, Coinmiles will give you cashback in the form of Bitcoin.

I've been using Coinmiles since May 2021 and this review will tell you if it's worth it and everything you need to know.

Coinmiles

Coinmiles Overview

Updated: May 14, 2022

Reward Amount

Typically 1%-5%, as high as 30%

Reward Type

Bitcoin

Stores Available

1,000+

Withdrawal Methods

Send to Bitcoin address or send cash via e-transfer

Minimum Withdrawal

$20 BTC equivalent or $25 Canadian dollars


Pros & Cons

  • Free app and free rewards
  • Easy way to earn more Bitcoin
  • 1,000+ stores so far
  • Maximize every dollar you spend
  • 60 seconds to sign up
  • Can combine rewards with a credit card
  • Online rewards take 30-120 days to show up
  • Only useful if it has the stores you shop at
  • Minimum $20 to withdraw which could take a long time to earn
  • In-store offers are extremely limited
  • Many exclusions on the brands available
  • Sometimes transactions don't show up and must be manually added

What Is Coinmiles?

Updated: May 14, 2022

Coinmiles is a Canadian rewards app that lets you earn Bitcoin when you shop in-store or online at your favourite brands. They have over 1,000 partner stores and pay you around 1%-5% cash back when you shop through the Coinmiles website.

The company was founded in 2017 and has 5-10 employees according to their LinkedIn profile. Their mission is, "to make Bitcoin easier and more popular than loyalty points."

Some Stats

  • 50,000+ Canadians signed up
  • 1,000+ online stores supported
  • Over 900,000 hotels supported
  • Founded in 2017

Screenshots

Updated: May 14, 2022

Coinmiles Screenshots

How It Works

Updated: May 14, 2022

How Coinmiles Works

1) Make An Account

Coinmiles takes under 60 seconds to get started. All you need to sign up is your name and email address and then confirm your email.

2) Start Shopping

There are two ways to earn, in-store shopping and online shopping:

Online Shopping - To earn online rewards, open the Coinmiles app or website and click on the brand you want to shop at. You will be redirected to the website using a special Coinmiles link that will track your rewards.

In-Store Shopping - To earn in-store, you must link your credit or debit card. When you buy something at participating stores, Bitcoin will be credited in your account.

3) Earn Bitcoin Rewards

After making an eligible purchase, most transactions show up within 24 hours. In-store offers are usually instant. For online shopping, most rewards are allocated within 24 hours but in some cases can take 30-120 days to be deposited. 

How Does Coinmiles Make Money?

Coinmiles partners with brands and gets a commission for every eligible purchase you make through their app. Coinmiles keeps some of this commission and also shares some with you. In this way, everyone wins. The store, Coinmiles, and you all earn money.


Stores & Rewards

Updated: May 14, 2022

As of May 2022, Coinmiles has over 1,000+ stores and most of the rewards available are online only. Here are some of the popular brands and offers currently:

Store

Cashback Amount

Walmart

Up to 1%

Best Buy

Up to 0.5%

Canadian Tire

Up to 2%

Shoppers Drug Mart

Up to 1.5%

H&R Block

Up to 5%

Microsoft

Up to 5.3%

AirportParking.com

Up to 10%

Groupon

Up to 5%

Agoda

Up to 4%

NordVPN

Up to 20%

Mark's

Up to 6%

DHGate

Up to 25.5%


Coinmiles Alternatives

Updated: May 14, 2022

The faster way to earn Bitcoin rewards is with a crypto credit card. You'll receive payment in 24 to 48 hours and earn cash back with every purchase instead of select stores. Use Coinmiles along with this to receive double rewards.

Shakepay Card

  • 1%-2% unlimited Bitcoin cash back
  • Virtual card only
  • Payouts in 24-48 hours

Crypto.com Visa

If you want the highest cash back and don't mind earning CRO, Crypto.com Visas are the best crypto rewards cards for Canadians.

  • Up to 5% rewards (but you need to stake CRO to get higher rewards)
  • Other perks like free Spotify, Netflix, Airbnb rebates and more
  • Payouts within 36 hours

We found 9 crypto credit cards eligible in Canada that we are tracking. You can compare all of them below:

Name

Cash Back Rate

Cash Back Form

Annual Fee

Payout Frequency

Website

1%

BTC

Free

24-48hrs

50 Sats

BTC

Free

Once a month

Netcoins Pay Visa Card

Netcoins Pay(#1 overall)

1%

BTC

Free

Once a month

5%

CRO

Stake $500k for 6mos

36 hours

3%

CRO

Stake $50k for 6mos

36 hours

2%

CRO

Stake $5k for 6mos

36 hours

1%

CRO

Stake $500 for 6mos

36 hours

0%

CRO

Free

36 hours

1%

Crypto, stocks or cash

Free

7-9 days


The Bottom Line

Updated: May 14, 2022

If Coinmiles supports the stores you shop at, it’s a great way to earn Bitcoin absolutely free. All you have to do is remember to open the app before you make a purchase online. The main drawback is online rewards take 30 to 120 days to show up.

The faster way to earn Bitcoin rewards is with a crypto credit card. You'll receive payment in 24 to 48 hours and earn cash back with every purchase instead of select stores. Use Coinmiles along with this to receive double rewards.

Who Should Use Coinmiles?

  • If they have the stores you shop at frequently
  • If you want to maximize every dollar you spend
  • If you spend lots of money every month
  • If you will use it consistently, otherwise you won't earn much

Who Should Not Use Coinmiles?

  • If it doesn't have the stores you shop at
  • If you don't care for 1%-5% back on select purchases
  • If you don't spend lots of money
Coinmiles

Coinmiles

Get 10,000 Sats for free when you make a qualified purchase within 120 days

Coinmiles FAQ

Updated: May 14, 2022

Do I Need to Link a Credit Card?

You only need to link a credit or debit card for in-store shopping rewards. For online shopping on Coinmiles, you don't need to link a credit card. You just need to remember to open the Coinmiles app before spending money online.

Why Does It Take So Long To Get Rewards?

In-store rewards should be instant but online transactions can take 30 to 120 days to show up. According to Coinmiles, merchants have to verify your purchase and make sure it extends past the return period in order to get paid.


Coinmiles

Coinmiles

Get 10,000 Free Satoshi's