Update 3/3/24: Available again
Update 2/11/24: Available again at $50/5k MR points. Hat tip to reader Davis
Update 2/15/22: They’ve lowered this now to $30/3k instead of $40/4k. At that rate you’d be better off doing the Swagbucks deal which only requires a $5 trade.
The Offer
- Rakuten is offering $40 cashback (or 4,000 Membership Rewards points) when you sign up for Coinbase and trade a cumulative amount of $100 within 6 months.
The Fine Print
- Exclusions: Cash Back is only available on a new account once a user trades a cumulative amount of $100 within the first six months. Cash Back is only available on the first cumulative $100 traded.
- Cash Back is only valid for new customers, one time per customer.
- Special Terms: Using coupon codes that are not listed on Rakuten may void Cash Back. To be safe, stick to codes provided by Rakuten.
- Posting Time: Cash Back will be automatically added to your Rakuten account tomorrow.
Our Verdict
I don’t personally trade crypto and don’t necessarily recommend crypto as an investment strategy. Some people like putting some amount of money in crypto or like doing the Coinbase freebie deals, so this is a good way of getting a bonus along the way.
Easy-ish win for those who don’t yet have a Coinbase account. We’ve seen $30 from Swagbucks before, and this deal is $10 better.
You can read the comments of the previous post for some tips of how to save on the Coinbase fees, and also how to trigger the $5 Coinbase bonus along the way as well.
Hat tip to reader Davis
$12.50 Cash Back now…
Also you can DL the coinbase app and there is about $30-40 worth of “learning rewards”… jump through a few hoops (no money investment, just time) and get some strange cryptos (vera etc) then convert it into BTC or USDC. So after the $100 deposit you get $50 rakuten bucks and about $50 crypto rewards. Not bad
Signed up. Where did you guys get the chance for the wheel spin?
It can take up to a few days for Coinbase to allow the Spin the Wheel. The Rakuten bonus doesn’t track well, so get ready to file a cashback missing claim. Rakuten was awesome at getting the bonus in though.
Thank you so much for the response. Merry Christmas!
Crypto companies paying people to sign up again? Time to dump my crypto and move back into cash for a while.
Back again
2/12 AM: Opened account, funded $101 from Ally, bought 101 USDC, received $3 worth of BTC from wheel spin bonus
2/12 PM: Checkmark appears in Rakuten “Order Placed” column
2/21 AM: Coinbase says my balance is available to withdraw
2/23 AM: Opened ticket with Rakuten. Supplied the order number as listed under “See Details” and my Coinbase Transaction History PDF.
2/26 PM: Got the following response. However, the $50 is still considered pending (Coinbase line item highlighted in blue).
Hello Diego,
Rakuten has yet to receive credit for this Coinbase order, but we went ahead and added the Cash Back for this purchase to your account.
Please note that for future Cash Back inquiries, we may need to submit them to the store for review, which can take a little while to resolve.
Note for people who didn’t have Rakuten track their purchase with Coinbase. I was able to get a successful credit of the $50 to my Rakuten account by doing the following:
Submitted a “Missing Cash Back” ticket.
Order number: reference code from my purchase of crypto.
Order subtotal: subtotal of crypto purchased from the above order.
Then I copied and pasted my “Welcome to Coinbase” email as well as the crypto purchase email into the “type your questions or comments” box.
I received an email within 24 hours: “Your order from Coinbase has been added onto your account for you today, and it will reflect within the next 24 hours. Happy shopping!”
There was no back and forth with customer service and I see the $50 in my Rakuten account.
Thanks, followed this. I actually received an instant credit: “We’ve Just Added $50.00 Cash Back to Your Account”
Even better. I’m happy it worked out for you
Thanks!
I had the same issue and I followed your instructions.
They credited my account instantly.
Signed up but Rakuten did not track. Spin the wheel and get $100 in BTC, lol
How long does this take to track?
As of about 24 hrs later, my order is “tracking” under Shopping Trips in the dropdown by your name. Says order placed, see details checkmark (looks promising at least). Hopefully will be added to the next check in a few days. Probably will pull the mooney out in a day, after taking some screenshots of account balance just in case tracking does not follow through.
May I know the reason why my comments are being removed. Just want to know if I have done something wrong.
They aren’t, they just require being approved.
Thanks…