A card reward paid as a percentage of each purchase in cryptocurrency, a platform token or stablecoins, usually tiered and capped monthly.
Headline cashback rates almost always require locked tokens, paid tiers or wallet-only payments.
Rewards paid in volatile platform tokens can lose value before you sell them.
Monthly caps matter more than the rate for anyone spending above ~$2,000/month.
Cashback paid in USD or BTC is easier to value than platform-token rewards.
A card advertises 'up to 8% cashback', but the 8% tier requires locking $40,000 in the platform token and caps rewards at $50/month. The free tier pays 0%. The realistic rate for most users is 1-2%.
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