1. What you're actually paid in
Bitcoin (BTC) is the original cryptocurrency — a digital currency not issued by any bank or government, tracked on a public ledger called a blockchain instead of a bank's internal system. Its price moves constantly, in both directions. A cashback reward worth R500 when it lands could be worth more or less than R500 by the time you check your balance again — the same way a share price or a foreign currency can move.
USDC and USDT are "stablecoins" — cryptocurrencies designed to track the value of the US dollar, aiming to stay close to $1 each. They're issued by private companies (Circle for USDC, Tether for USDT) that say they hold real dollar reserves to back every coin in circulation. "Pegged to the dollar" means designed to track it closely, not guaranteed to always equal it exactly — stablecoins have occasionally traded below their $1 target during periods of market stress. They move far less than Bitcoin, but they are not the same thing as cash sitting in a bank account.
You don't need to open an account on a crypto exchange, install an app, or set up a wallet to start earning — that only becomes relevant once you're ready to withdraw. See "Custody" below for exactly how your balance is held before then.
2. The full withdrawal path
- Accrual. Your cashback appears as a pending reward in your account right away, calculated from the commission Bannga earns when you shop through a partner store.
- Confirmation. Rewards are typically confirmed within 30–60 days — the window most cashback and affiliate programmes use, since merchants have a return/cancellation period before the commission Bannga is paid on your purchase is finalised.
- Minimum withdrawal. You can withdraw once your confirmed balance reaches TODO_VERIFY.
- Fees. TODO_VERIFY — whether a network or processing fee applies, and how much, needs to be confirmed before this goes live.
- Supported networks. Bitcoin, USDC, and USDT can each move on more than one blockchain network (for example, USDT alone commonly runs on Ethereum, Tron, and other networks, each with different fees and confirmation times). Which network(s) Bannga supports for each asset is TODO_VERIFY.
- How the value reaches you. TODO_VERIFY — whether rewards are sent to a wallet address you provide, an account hosted by Bannga, or through a named exchange partner needs to be confirmed and described plainly here before this page is finalised.
3. Custody — who holds your rewards
Bannga holds your reward balance in our own systems until you withdraw it. We don't invest, lend, or trade the crypto held on your behalf — it sits there as yours, waiting for you to withdraw.
If Bannga ceased operating: this is being finalised with proper legal review rather than answered with a reassuring guess. In general, your reward balance is not invested, lent, or traded, which reduces — but doesn't eliminate — the risk of loss. If this matters to your decision to join, email support@bannga.co.za before signing up and we'll answer directly.
4. Paying with crypto instead of cash or card
If you already hold crypto and choose to pay with it at a partner store, you earn a bonus on top of the standard 1–7% cashback rate: TODO_VERIFY extra per purchase. You don't need to pay with crypto to earn cashback — this is an added bonus for shoppers who already do.
5. Why some people choose to hold crypto rewards
Some Bannga users choose to hold their Bitcoin or stablecoin rewards for a while rather than converting to rand immediately. Their reasoning is usually straightforward: the rand has lost purchasing power to inflation over time, and money sitting in a low- or no-interest account can lose real value year over year.
Bitcoin's price history has included large gains over multi-year periods — and also large, sharp losses. It is not a savings account, a fixed deposit, or a guaranteed store of value, and its price can fall as easily as it can rise. Stablecoins like USDC and USDT track the US dollar instead of the rand, which means their rand value still moves whenever the rand itself does, without Bitcoin's added volatility on top of that.
This page is not financial advice. Nothing here should be read as a recommendation to hold any asset instead of withdrawing to rand. If you're weighing that decision, it's worth speaking to a licensed financial adviser.
Common questions
What is Bitcoin cashback?
A reward paid in Bitcoin (BTC) instead of rand or a gift card. Bannga pays part of the commission it earns from partner stores back to you as Bitcoin, which you can hold or convert once it's confirmed.
How do I earn USDC rewards?
The same way as any Bannga cashback: shop at a partner store, and a share of the commission Bannga earns is paid to you. USDC is a stablecoin, so it's a lower-volatility option than Bitcoin.
Are stablecoin rewards the same as cash?
No. USDC and USDT track the US dollar closely but aren't government-issued currency and aren't guaranteed to always equal $1 — see section 1 above.