Lolli Rolls Out Automatic Bitcoin Cashback on Card Purchases

Bitcoin rewards platform Lolli has launched a feature that automatically gives users Bitcoin cashback on debit and credit card purchases.

Lolli is offering the card-linked rewards service through a partnership with commerce media network Kard, The Block reported on May 19.

Users who link a Visa or Mastercard to the Lolli app can automatically earn Bitcoin rewards when they make purchases at participating merchants including Dropbox, Hydro Flask and Stanley 1913.

The company said users can accumulate Bitcoin through everyday spending without installing a separate browser extension or entering discount codes.

"Most people don't want to take extra steps to earn Bitcoin," Thesis co-founder Matt Luongo said. Once a card is linked, Bitcoin is automatically deposited into the user's wallet through normal spending, he added.

The rewards are paid into a Lolli wallet. Users can withdraw them through the Lightning Network or spend them on services within the Thesis ecosystem, including Bitrefill.

Lolli has about 600,000 accounts and has paid out more than $20 million in Bitcoin rewards to users so far, The Block reported. Some early users have accumulated more than 2 BTC.