NBX, the leading Norwegian cryptocurrency exchange is excited to announce the new structure for cashback based on referrals. We have massively reduced the amount of referrals needed and we hope you are as excited as we are about it.
As most of you already know the NBX Visa credit card enables you to earn up to 4% in Bitcoin cashback. Every time you make a purchase with the card you will receive Bitcoin in the NBX app. Cardholder's tier level is based on trading volume or referrals the last 90 days. Once a month you will receive earned cashback in your NBX account. You can keep this Bitcoin in your account, or you can exchange it to NOK, EUR, SEK DKK or other cryptocurrencies on the NBX platform. Contrary to most other providers or agents which offer crypto credit cards, we do not force you to stake your earned crypto nor do we pay you in some arbitrary coin or token. We consider Bitcoin the safest cryptocurrency as no single entity can manipulate it. Hence, we reward our users with Bitcoin. In other words, the Bitcoin you earn is all yours and you can do whatever you want with it!
The NBX For All Programme
You can start earning kickback from the moment you receive your virtual or physical card. The standard levels of our card programme gives you the opportunity to increase your kickback and climb from 0.5% to 1.5% by reaching the numbers in the table below. Cardholder's tier level is based on customers trading volume or referrals the last 90 days.
Level 1: 0.5%. Trade Volume > 0 or Referrals > 0
Level 2: 1,0%. Trade Volume > 50.000 NOK or Referrals > 4
Level 3: 1,5%. Trade Volume > 100.000 NOK or Referrals > 6
The NBX Pro Programme
We know some of you are active traders, market makers or shop larger volumes. And some of you are actively working on referring people to NBX. The levels in the table below make it possible to climb all the way up to 4% kickback of every purchase you make with your card.
Level 4: 2%. Trade Volume > 450.000 NOK or Referrals > 10
Level 5: 3%. Trade Volume > 1.750.000 NOK or Referrals > 50
Level 6: 4%. Trade Volume > 2.500.000 NOK or Referrals > 100
How does the cashback program work?
The NBX credit card enables cardholders to earn cashback rewards of 0.5-4% in BTC for every purchase made with the card. The exact percentage of cashback will depend on the cardholder's tier level, which can be increased by achieving a higher trading volume or referring more people to become customers of NBX. Cardholder's tier level is based on customers trading volume or referrals the last 90 days. Once a month the earned cashback will be made available on the customers NBX account.
How do I achieve a higher tier level?
Cardholders can achieve a higher tier level and earn a higher cashback rate by increasing their trading volume or referring more people to become customers of NBX.
How do I redeem my cashback rewards?
Cashback rewards can be redeemed at any time by logging in to your NBX account and choosing to exchange the BTC for NOK,EUR,SEK, DKK or other cryptocurrency.
Are there any restrictions on redeeming cashback rewards?
There's no restrictions on redeeming the cashback rewards. You can keep this Bitcoin in your account, or you can exchange it to NOK, EUR, SEK DKK or other cryptocurrency on the NBX platform.
Are there any fees associated with the cashback program?
There's no fees associated with the cashback program. But you have to pay a fee to exchange BTC for NOK,EUR,SEK, DKK or other cryptocurrency on the NBX platform. The fees are 0.5% maker and 0.7% taker.
Nominal interest rate for cash withdrawals is 24,5% and for purchase/retail 23,5%.
Effective interest rate 26,37%, based on the following example:
Credit amount NOK 20000 (purchase/retail)
Nominal interest rate for cash withdrawal 24,5% p.a.
Nominal interest rate purchase/retail 23,5% p.a.
Establishment costs NOK 0
Repayment period 12 months
The total amount to be paid is NOK 22652.
NBX is a registered financial agent on behalf of Nordiska Financial Partner Norway AS. NBX Visa credit card issued by Enfuce. Visa® is a registered trademark of Visa.
This text is intended to inform and is not an investment recommendation.
Best regards,
Adam Jakobsen.
NBX team.
