Unlike traditional points-based rewards, Wallbit Cashback rewards users directly in SPY, the ETF that tracks the S&P 500 index. This model is designed to automate saving and investing through your everyday spending.
While cashback accumulates regardless of your account status, you must activate your investment account to receive these rewards as SPY shares.
If your investment account is not active, the assets will not be in your name. Only you can open the investment account in your name.
If you have a investment account but don't want to receive S&P 500 cashback—or if you don't have an account and also prefer not to accumulate rewards—you can disable this feature in the app's cashback section.
What is S&P 500 Cashback?
While traditional programs offer points or fiat currency, Wallbit credits your benefits in SPY, an Exchange-Traded Fund (ETF) that replicates the performance of the S&P 500.
The S&P 500 tracks 500 of the largest and most influential companies in the United States. By receiving cashback in this asset, you aren't just getting a "rebate"—you are utilizing a powerful investment tool with the following advantages:
Diversification: Your rewards are backed by top-tier U.S. sectors, including technology, healthcare, and finance.
Value Protection: As a USD-denominated asset, it serves as a hedge against the depreciation of local currencies.
Historical Growth: Historically, the S&P 500 has been one of the most consistent long-term wealth-building vehicles in the market.
How Wallbit Cashback Works
The process is automatic for all users. Simply make a purchase using your Wallbit Global Card or QR payment (in supported regions).
The process follows three automated stages:
Spending: You make a purchase using your card or QR code.
Accumulation: Your cashback percentage is calculated based on your tier and added to your "Pending Cashback" balance. You can track this in the Card section of the app.
Automatic Purchase: Per market regulations, the minimum purchase for a fractional share is $1 USD.
Once your pending balance reaches or exceeds $1 USD, the system automatically executes the purchase of SPY.
Market Hours: Trades are executed exclusively during U.S. stock market hours. If you reach the threshold after hours or on a weekend, the purchase will complete at the next market open.
Note: Wallbit does not charge commissions on the execution of cashback purchases. However, standard market fees apply if you decide to sell the asset in the future.
Cashback Tiers and Limits
Your reward percentage is determined by your AUM (Assets Under Management), which is the average balance held in your investment account:
Tier | Investment Balance (AUM) | Cashback % | Monthly Limit |
Bronze | Under $10,000 | 0.3% | No Limit |
Silver | $10,000 to $50,000 | 0.5% | $50 USD |
Gold | Over $50,000 | 1.0% | $100 USD |
What if I don't have a investment account yet?
For users who haven't activated their investment account, we offer an extra incentive: you can earn 50% cashback on your first $5 USD in rewards with no expiration.
Once you reach the accumulated balance, a "Claim Now" button will appear in the app. This will guide you through the investment account opening process so you can officially receive your accumulated rewards.
Practical Examples
Here is how spending translates into investment across different tiers:
Bronze Tier
A user with a new account (less than $10,000 AUM) spends $400 USD in a month.
Calculation: $400 x 0.3% = $1.20 USD.
Result: Since the amount exceeds the $1 threshold, the system triggers a $1.20 purchase of SPY. With no monthly limit, all subsequent purchases will continue to earn rewards.
Silver Tier
A user with $20,000 AUM makes a large purchase of $12,000 USD.
Calculation: $12,000 x 0.5% = $60 USD.
Result: Because the Silver Tier has a monthly limit of $50 USD, the user receives the $50 maximum in SPY. No further cashback will be generated until the limit resets the following month.
Gold Tier
A user with $60,000 AUM spends $8,000 USD.
Calculation: $8,000 x 1% = $80 USD.
Result: The user receives the full $80 USD in SPY, as they are well within their $100 monthly limit.
If you have any questions or need further assistance, please contact our support team via the Help Center or join our Discord community.