By: Alex Dabek

Last Updated: Aug 1, 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

My Rating

2.5

Reward Amount

Typically 1%-5%, as high as 35%

Reward Type

Bitcoin

Stores Available

300+

Withdrawal Methods

Send to Bitcoin address or send cash via e-transfer

Minimum Withdrawal

$20 BTC equivalent or $25 Canadian dollars

Pros and Cons

  • Free app and free rewards
  • Easy way yo earn more Bitcoin
  • 300+ stores so far
  • Maximize every dollar you spend
  • 60 seconds to sign up
  • Online rewards take 30-120 days to show up
  • Only useful if it has the stores you shop at
  • Still new and needs to add more stores
  • In-store offers are extremely limited
  • Many exclusions on the brands available

What Is Coinmiles?

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 300 partner stores and pay you around 1%-5% cashback when you shop through the Coinmiles website.

The company was founded in 2017 and has about 9 employees according to their LinkedIn profile. Their mission is, "to make Bitcoin easier and more popular than loyalty points."

Screenshots

Coinmiles Screenshots

How It Works

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 these brands and gets paid commission every time you make an eligible purchase through their app. Coinmiles then keeps some of this commission and also shares some of it with you. Everyone wins. Coinmiles gets paid, you get paid and the store gets more customers.


Stores and Rewards

As of July 2021, Coinmiles has over 300 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%

Sport Chek

Up to 2%

Canadian Tire

Up to 1%

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 2%

NordVPN

Up to 20%

Wish Wholesale

Up to 25%

DHGate

Up to 25.5%

Offers from July 6, 2021

Where It Shines

Free Rewards - If you're going to spend money anyways, this is a great, free way to maximize your spending and earn some Bitcoin.

Earning Bitcoin - Rather than earning loyalty points or cash on another platform, you can earn Bitcoin which could potentially appreciate in value over the long run.

Can Combine Rewards -  For max rewards, you can combine Coinmiles with your credit rewards card as well.

Where It Falls Short

Not Many Stores - Coinmiles has 300+ brands but it's only useful if they have stores you shop at. It would be nice if they added Amazon, gas stations, and grocery stores which they don't have right now.

Not Significant Income - It's hard to earn lots of money because you only earn at supported stores and there are lots of exclusions as well.

Rewards Are Slow -  Some transactions show up in 24 hours while others can take 30-120 days to be deposited into your account. Even though it's a free app, this is a long time to wait for such a small reward.

Transactions Don't Show Up - Sometimes online purchases don't show up in 1-7 days so you must manually add them.

Lot's Of Exclusions - Coinmiles has over 300 brands but many stores exclude popular products and categories. For example, Canadian tire excludes 13 very popular categories.


Best Coinmiles Alternatives

Lolli in the USA is the biggest exact alternative to Coinmiles but it's not available in Canada. However, if you want other ways to earn free bitcoin or cashback, check out these options:

MogoCard Platinum Visa

1. The MogoCard

The MogoCard is a free prepaid visa that gives you unlimited 2% cashback in Bitcoin. Unlike Coinmiles, this card gives you cashback on every purchase you make and rewards are deposited monthly rather than 30-120 days.

Rakuten

2. Rakuten

Rakuten is one of the most established rewards sites and they've paid Canadians over $100 million since 2012! You don't get Bitcoin cashback but they have 750+ stores and up to 30% cashback.


The Verdict

If Coinmiles supports the stores you shop at, then it will be a useful way to earn free Bitcoin. However, in my opinion, they need to add more stores and add faster payments. Right now, there are no in-store rewards in the GTA area and in some cases, online rewards take 30-120 days to show up.

If you want Bitcoin rewards, I recommend a crypto credit card instead because you'll earn Bitcoin cashback on every purchase you make instead of select stores.

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

Join Coinmiles And Get 10,000 Free Satoshi's When You Sign Up!

FAQ

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.

Why Does it Take so Long to Get Rewards?

In-store transactions should be instant but online rewards can take 30-120 days to be deposited. Coinmiles explains this is because it must extend past the return period and be verified by the merchant. This process is different for every store and that's why it can take lots of time. Unfortunately, this is out of Coinmiles' control.

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