BitRewards, the world’s first blockchain-based loyalty platform, has successfully been conducting its pre-ICO that started on January 12, 2018, and is close to reaching its soft CAP of $3 million. The company has also announced its main ICO starting from April 1, 2018. Getting excellent ratings from mainstream rating agencies like ICORating 9/10, ICOBench 4.7/5 and TrackICO 4.8/5, BitRewards expects to successfully capture the $20 billion worth of retail market globally through its revolutionary ecosystem.
BitRewards is a blockchain rewards and loyalty system for e-commerce businesses. It enables online stores to reward their shoppers with a cryptocurrency “BIT”, which helps to increase sales by an average of 17%. Because of the blockchain and its unique business model, this cutting-edge loyalty system is offered to the businesses free of charge. Customers are rewarded for their purchases with liquid Ethereum-based tokens that can be redeemed for future offers, purchases, or transferred to another crypto wallet and used on other products or services.
The Exclusive Benefits
BitRewards enables retailers to make their customers more satisfied with the rewards in crypto and thus gaining their loyalty. A great loyalty program magnifies the retailer’s revenue by a significant percentage. The stores are capturing crypto-enthusiast market, which is active and embraces the attention from regular businesses.
BitRewards offers such expensive and valuable loyalty technology free of cost. The retailers buy BIT in the open market to reward their users. The cost of such software starts from $200 per month, hence many retailers want to connect to the platform. BitRewards, moreover, uses AI-based predictive analytics that helps configure the rewards and actions for every specific business to address its unique target market and maximize ROI for each dollar spent on the rewards.
What is BIT Token & How Does It Work?
Internal BitRewards tokens, called BIT comply with the ERC20 standard. It is an internal currency that will be used to conduct all operations within the BitRewards ecosystem. Customers of the online stores participating in BitRewards Network will get BIT as a cash-back — a specific configurable percent on their purchases, their referral purchases, shares and likes in social networks and other actions. The cash-back will be credited to the customer’s automatically created crypto-wallet connected to the store via BitRewards plugin.
BIT can be redeemed at the same store or with the other BitRewards participating merchants via an online crypto-wallet connected to the participating merchants. The customers can also buy BIT on the open market (e.g. exchanges, etc.) or via the Bancor liquidity smart contract. In most exchanges tokens can be converted into ETH, Bitcoin or fiat.
The Market Competitiveness of BIT
The demand for the BIT tokens most likely will grow because of the limited initial issuance of 2 billion tokens and the increasing number of retailers joining the platform exceeding the supply from the customers who redeem the tokens for purchases or trade them at the open market.
The decentralized rewards management on blockchain makes the platform unique and delivers great value to all platform members and their customers:
- for retailers – a premium blockchain loyalty management system with a value of $200-$2000 per month for free.
- for customers – cryptocurrency rewards, which they can turn into real money or redeem for purchases and which do not expire and tend to go up in price.
The Main ICO of BitRewards will start from April 1, 2018 while its on-going pre-ICO is ending soon. To get whitelisted for its upcoming ICO and know more about the platform’s features and technology, please visit https://bitrewards.network/