When will I receive cashback for bitcoin losses? I’m also wondering when cashbacks generally occur as well
Hi…Welcome. Ok if you purchase say $100 and you lose…and at midnight Eastern Time Zone,…you have less than $10…then you qualify for cash back at whatever rate your player status is on $100 lose. Does that make sense? Now if you have $20 in your account at midnight…then you don’t qualify for cash back yet. You will only qualify for cash back the next day if #1 you have lost money and #2 your account balance is below $10 bucks at midnight.
So let’s say you Purchase $100 at 8pm and you win $500 and cash out $400…then you play the remaining $100 while you are waiting to receive the $400 funds…and your lose the $100 before midnight…YOU DO NOT qualify for cash back…because you have won. $400.
Now…if you decide to go ahead and play the $400 in winnings because you canceled the withdraw…and you lose that $400…you DO NOT qualify for $400 worth of cash back…you would only qualify for your original debt of purchase…being $100…because you are only technically out $100 lose…Does that make sense??
If you need me to explain more I can…
Welcome to the forum @clee98,
Cashback is issued daily before 5p ET to those who become eligible for that day. You can find all information on how Cashback works here.
I will send you a PM shortly with more information in regards to your cashback eligibility.
@Texasgal13 YOUR SO GOOD… Better cannot be said not even the help section explained it like you and copying this and pasting in on my cashback post for reference…
@Texasgal13 I added to my post but here’s some additional details to complement your reply; Im on Platinum – 11% cashback so that $100 loss will be what? ($12 dollars!!!)?
Generally speaking though, if you’ve deposited more than you’ve withdrawn, and your balance is below $10, you’re eligible!
When the clock strikes midnight, any account balances under $10 become eligible for a Cashback Bonus. Essentially, if you’ve deposited more than you’ve withdrawn, you’ll earn a Cashback Bonus of between 6% and 15% of those deposits.
Every player begins at the Steel tier, where you’ll receive 6% Cashback. But as you earn Tier Points through regular play, you’ll reach different tiers that up the ante as follows:
• Chrome – 7%
• Bronze – 8%
• Silver – 9%
• Gold – 10%
• Platinum – 11%
• Titanium – 12%
• Diamond – 15%
@EMELO_123. Yes…That is correct! Since your last cash back bonus…
You take Deposits made (minus) Cashouts and that equals “X amount” and if “X amount” is a positive number then you earn the percentage of cash back on that positive number based on Tier Level. (And it’s only calculated if you were below $10 at midnight eastern time)
Example: Deposit $400 …Cashout $300…400 minus 300 is $100. You go ahead and play that left over $100 and lose…then You would earn $15 cash back for Diamond Level (15% of $100). Or deposit $400…play and play…get down to $300 and cash that $300 out…then it is the same scenario…you would earn cash back on your $100 loss.
If you Deposit $400 and you do not withdraw anything and lose all $400 then it would be 400 minus 400 leaving you with “0” and therefore you would qualify for cash back of your original purchase. ($400) based on 15% that would be $60 bucks.
These scenarios are all based on if you purchase / withdraw all in the same day and before midnight. It gets kind of confusing when you qualify at midnight and then purchase after midnight (say around 2am). but you will get the cash back on loses for your midnight qualifications…and the new deposits will be figured the next time midnight rolls around.
I can tell you this…I have been with ignition many years and they have never messed up my cash back about. I’m a MATH person and they calculate it correctly…It can be confusing sometimes…simply because of the times of day I deposit…etc etc. But it is always correct. LATE…alot…but always CORRECT.