CoinCorner launches UK ‘Bitcoin cashback’ initiative
One of the UK’s leading Bitcoin exchanges, CoinCorner, has launched a new ‘Bitcoin cashback’ service to reward customers when they shop online.
CoinCorner has partnered with more than 400 top retailers to launch the first-of-its-kind service in the UK. Some of those who have partnered with the exchange include household names such as Burtn, Twinings, COnfused.com and New Era.
CoinCorner’s customers can browse through the retailers on the platform’s directory, before clicking through to their chosen site. There, they shop as normal and once a customer has completed their purchase they will receive a notification from the exchange to confirm their Bitcoin cashback.
The retailer pays CoinCorner once customers make a purchase on their site and once the exchange receives the money, it is flipped into Bitcoin and credited to the CoinCorner account.
The amount of Bitcoin the customer gets back depends on how much the retailer offers but CoinCorner claims people can earn up to 20 per cent in rewards.
Chief executive Danny Scott said: “This is an opportunity for people to earn and own Bitcoin while buying their everyday products and services. A number of our customers have already used the service after we soft launched it on CoinCorner.com last week.”
The service follows on from the cashback initiatives offered in the US and other countries. New York-based startup Lolli is one of the biggest cashback apps on the market. Online shoppers add a browser extension, create an account and and shop at the supported retailers, which include Expedia, Hilton and Sephora.
Scott added: “With much demand from consumers for a similar service here, we’re delighted to be able to bring this to the UK market, and at a time when online shopping is the safest way to browse and buy.”
Australia-based crypto cashback platform BitcoinRewards was launched in 2017 and also offers users the ability to earn rebates. Supported retailers include Asos, Best Buy and Etihad Airways.