Redeem Brex Rewards for Crypto
Brex has launched one of the first crypto rewards programs for corporates. With the new offering, Brex’s customers will be able to exchange Brex reward points for bitcoin and ether the same way they’d redeem them for cash, miles, gift cards, or travel.
Brex’s rewards partner, TravelBank, will power the zero-fee rewards redemption program, allowing users to input the amount of points they want to redeem for crypto. The cryptocurrency can then be transferred to digital wallets like Coinbase.
When you go to the Rewards page in your Brex account, you will now see an option to redeem your points for Bitcoin (BTC) or Ethereum (ETH).
But while it’s great to see a new option for redeeming Brex points, the transfer ratio is not very favorable when you redeem Brex Rewards for Crypto. You only get a value of 0.7 cents per point when you redeem for either BTC or ETH.
Points can be cashed out at 1 cent each to your Brex Cash account. Then you can go ahead and buy BTC or ETH on your own since they are available on many apps like Robinhood and others. You also have the option to transfer Brex rewards to travel partners. Those are both much better options.