BitRewards: crypto cash back rewards
Bitrewards is an interesting project that was listed on coinmarketcap just about a week ago. Bitrewards knows that you have been carrying around loyalty cards, coupons, and keeping track of cash back offers from companies for far too long. They want to make cash back offers on your purchases quicker, easier to store, and easier to spend by rewarding you with BIT tokens on all of your purchases.
Bitrewards has been developed from the company GIFTD, an ecommerce plugin to drive sales on your website, allows users to get rewarded with loyalty points and discounts via their e-mail, etc. But Bitrewards is their new company. Bitrewards wants to allow companies to sign up and use their loyalty platform to reward shoppers with BIT tokens on every purchase they make. After customers make purchases they can hold onto the tokens and wait for the price to increase or spend them the next time they go shopping. Bitrewards looks like they have a successful team and they have already had success with their previous company GIFTD, so we can probably expect this to be a good investment in the long-term. Bitrewards is focused mainly on improving the online shopping platform and giving companies or website owners a way to increase traffic and loyalty to their business by rewarding them with these BIT tokens, but they have a retail focus as well. The team working on this project seems very confident because they will be able to easily transfer some of their existing customer base from GIFTD over to Bitrewards to ensure they have some users to begin with.
Here is the promo video for Bitrewards: https://www.youtube.com/watch?time_continue=38&v=MMZiwgyW7Fc They show a credit card in their promo video, but they plan on creating mobile apps for their product in the future.
It is currently only listed on HitBTC and IDEX right now, although IDEX isn't showing up here: https://coinmarketcap.com/currencies/bitrewards/
This is definitely not the only crypto loyalty program out there, but its definitely worth a look.
Please Upvote & Leave your comments below. Thanks!
@the4thmusketeer thanks for this input. You are right, there are lots of rewards programs out there, but one thing that is true is that there's no world wide reward program for the regular joe (AMEX, Mastercard, Visa have local rewards that you can use to "buy" things or exchange through loyalty points, but it isn't worldwide, each region has its own program limitations).
So blockchain is a great way to provide this solution. As everything is stored in the blockchain you can even tokenize all your reward programs and cards into one (still different cards and programs, but stored virtually in an app - Lets call it "rewards wallet").
So this is only the next expected step in a more connected world.
Great informative post! upvoted
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Appreciate it
very nice & useful information. thanks for sharing.
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This sounds exciting. I do a lot of travel and I've got rewards credit cards for my preferred services (Hilton hotels, United Airlines, etc). I would chuck all those in the trash for a crypto reward system in a heartbeat!
Thanks for sharing
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Many might find this useful - re-steemed.
-Expy
I think it has potential. Undervalued right now. Thanks!
How do you get so much traffic to your post? Any special techniques you could share with me as I have a youtube channel for crypto and want to develop a community on Steemit as I see it as the future of social media!
I have Tiger's Blood, lol. Just build a reputation on here, post often, and overtime people will let you know what they like/don't like.
You may also want to look into Minds at minds.com They are a Facebook like social media platform that is doing Steemit like things. Free speech, crypto, and all that. Now we just need someone to create a crypto and free speech version of Twitter!
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Good post
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It's a new concept and has a great potential. Many companies should come forward to adopt it. Good work.
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nice info
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Nice blog and useful information provided by you. Will it launch on any other exchange in future?
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Yes, in time I'd expect to see it on more exchanges like cryptopia or kucoin probably, but it's not up to me.
That's nice, thank u for your kind information.