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Market Musings

Getting a Mortgage? You Might Be Able to Get Rewarded in Bitcoin

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Published on:
March 30, 2021

'It’s clear that we’re still in the beginning stages of seeing consumers add Bitcoin to their financial portfolios,' Mogo says.

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A Canadian fintech company that enables users to earn crypto rewards when they make purchases has launched the first Bitcoin cashback mortgage.

 

Mogo says that customers who take out a mortgage or refinance through its platform will get a chance to earn up to $2,450 worth of Bitcoin, deposited directly into their account.

 

The company acknowledges that BTC can be volatile and incredibly speculative, but believes its rewards program enables customers to gain exposure to crypto without putting any of their own funds at risk. Mogo’s founder and CEO David Feller added:

“It’s clear that we’re still in the beginning stages of seeing consumers add Bitcoin to their financial portfolios, just as we’re seeing corporations add it to their balance sheets.”

A Life-Changing Opportunity? 

Mogo says its approach to reward programs is much different from rivals — and Bitcoin’s status as an asset class means that it could be very rewarding indeed.

 

The platform pointed out that, if that self-same $2,450 had been invested five years ago, it would have been worth more than $275,000 at current market rates.

 

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Connor Sephton

I cover the crazy world of crypto.

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