Satsback stands as a cashback platform that rewards users with free sats for purchases made across hundreds of online stores.
Through Satsback, users collect free sats, the smallest units of a bitcoin. There are 100 million sats in one bitcoin. With the current bitcoin rate hovering around €39,000, roughly 2,500 sats translate to 1 euro.
What are cashback websites?
Cashback websites operate as intermediaries between consumers and online retailers. Users earn cash rewards or other incentives for making purchases through affiliate links on these platforms. These rewards often accumulate in an account on the cashback website and can be withdrawn or used for future purchases. Popular cashback websites like Rakuten, TopCashback, and Swagbucks offer a variety of deals and partnerships with numerous retailers, enhancing the shopping experience while providing users with monetary benefits.
Satsback: bitcoin cashback website
Satsback functions as a cashback system where users are incentivized for shopping via Satsback links. Simply install a browser plugin to receive notifications when browsing partner webshops. Examples include AliExpress, Adidas, Expedia, Nike, Booking.com and many more.
A portion of the purchase amount accumulates in your cashback website balance. Satsback earns an advertising fee from these webshops and shares this fee with users. After a few weeks, Satsback receives this fee from the webshops, making the amount available in the user’s account for withdrawal.
Withdrawals can only be made via the Bitcoin Lightning network, so users need their own wallet. Rewards can easily and swiftly be requested through apps like Wallet of Satoshi.
The received sats can then be spent at webshops or stores accepting Lightning payments, or users can opt to save them. As the bitcoin rate climbs, the value of these rewards also increases.
Here’s a snapshot of the Satsback website:
Satsback Expands to the US
Satsback originated in the Netherlands. In 2020, Stekking was launched there, while a similar initiative emerged in Poland. Both platforms merged and continued under the name Satsback. Gradually, expansion took place across several European countries.
Recently, Satsback made its debut in the US. Satsback wants to change how Americans shop online by helping them save Bitcoin while buying their stuff. They’re teaming up with more than 500 stores to make this happen.
The Satsback idea is to use money that companies usually spend on ads and give it to shoppers in Bitcoin. This means people can save in a kind of money that’s worth more over time, while stores get more customers and money.
The CEO of Satsback Labs, Tom Chojnacki, said: “Buying Bitcoin is hard for many people, especially those who can’t spend a lot of money. We’re excited to give US shoppers a way to save Bitcoin, even if they can’t buy it.”
Now, when you buy things from lots of big stores like Macy’s, The Home Depot, and Booking.com through Satsback, you get some Bitcoin back. All you have to do is pick your store, use the special links on their website, buy what you want, and a part of what you spent comes back to you in Bitcoin, straight to your Lightning wallet.
Satsback.com also made a cool tool for your internet browser (like Chrome, Firefox, or Safari). It helps you remember to use Satsback when you’re shopping at the partnered stores online.