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Lolli Bitcoin Rewards App Available On iOS

by Bitcoin MagazineJune 17, 2021

Bitcoin rewards platform Lolli has launched a mobile app available on iOS devices.

Bitcoin rewards platform Lolli has announced the launch of a mobile app available on iOS devices.

The app gives users the ability to take advantage of Lolli’s “sats-back” ecommerce model, which offers bitcoin rewards for purchases and mainstream retailers including Microsoft, Kroger and Ulta Beauty. Previously, this was only available through Lolli’s web extension.

“The Lolli bitcoin rewards app offers even greater reward accessibility for mobile shopping and includes premium reward rates, a growing merchant network, referral bonuses, the option to view rewards in bitcoin or satoshis, Daily Stacks and faster reward confirmation times,” according to a press release shared with Bitcoin Magazine. “Lolli currently offers up to 30% and an average of 7% back in bitcoin rewards, and has already given over $3.5 million in merchant-funded bitcoin rewards to its users.”

The release added that “Daily Stacks” refers to an animated loop box within the app that gives users the chance to win large amounts of satoshis on a daily basis.

“We believe everyone should be able to easily earn bitcoin on every purchase on every device, and mobile shopping is just another step toward achieving that goal,” Lolli CTO Matt Senter said, per the release.

Lolli CEO Alex Adelman has been a vocal proponent of driving bitcoin adoption through commerce, with sats-back rewards eventually empowering more people to become full-fledged Bitcoiners.

“The next stage — these earners are going to become spenders,” as Adelman explained to Bitcoin Magazine in 2019. “Once they hold bitcoin, they’re going to want to spend it.”

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Fold Opens Access To Sats-Back Debit Card, Announces $13 Million Series A

by Bitcoin MagazineMay 27, 2021

Bitcoin rewards platform Fold has opened access to its bitcoin rewards debit card and announced a $13 million fundraising round.

Bitcoin rewards app Fold has announced that its sats-back debit card is now accessible to all U.S. residents.

“Instead of offering points or airline miles typically found in most card programs, Fold provides bitcoin rewards through a gamified experience that emphasizes healthy financial habits,” according to a release shared with Bitcoin Magazine. “Fold cardholders can earn variable rewards by spinning a rewards wheel after each qualifying purchase, like earning 100% of their purchase back in bitcoin, or even winning a whole bitcoin, which ten users have done to date.”

The waitlist for the card has been open since last year. Since Fold launched in 2019, it has built a waitlist of more than 250,000 waiting for access to the card, per the release. More than 20,000 cardholders participated in an early access program that saw $100 million transacted since November 2020.

Fold also announced the conclusion of a $13 million series A fundraise led by Craft Ventures, with participation from M13, Slow Ventures and Bessemer. The company will be using the capital to build out its rewards platform so that any credit or debit card in the country could offer its users bitcoin rewards. And it expects to offer a bitcoin rewards credit card by the end of the year.

“We’ve pioneered bitcoin rewards to make bitcoin accessible to everyone,” said Fold CEO Will Reeves, according to the release. “Between the appreciation of bitcoin and our generous rewards, people have earned more money in their Fold rewards account over the last few months than they have in the savings accounts they’ve been building for years.”

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Tagged : All News / Business / Fold / Fundraising / Sats Back

Gemini To Launch Bitcoin Rewards Credit Card

by Bitcoin MagazineJanuary 14, 2021

Today, cryptocurrency exchange Gemini announced its plans to launch Gemini Credit Card, which will reward users with bitcoin back for purchases, later this year.

The launch announcement follows Gemini’s acquisition of Blockrize, a fintech company that had already been working on such a product. Gemini has started a waitlist for early access to the credit card that will also include Blockrize’s more than 10,000 waitlist members.

“By combining Gemini’s simple, reliable and safe platform with Blockrize’s rewards program, card holders will be able to seamlessly earn up to 3 percent back in bitcoin, or other cryptos, on every purchase they make with the Gemini Credit Card,” according to a press release shared with Bitcoin Magazine.

The card will be available to U.S. residents in every state and Gemini expects it to be useable wherever “major cards are accepted.” Bitcoin rewards will be automatically deposited into a user’s Gemini account.