BitRewards aims to use the technology of blockchain and apply it to non other that loyalty and reward programs for shoppers. It provides an opportunity for stores to reward their shoppers with the BIT cryptocurrency, something that BitRewards claims will increase sales by an average of 17%. With the help of blockchain and BitRewards unique business model, this loyalty system is offered free of charge. It will be a rewards and loyalty platform that will permeate the online retailers of all shapes and sizes and connect them with their customers by virtue of BIT tokens.
Website : https://bitrewards.network/
With the help of the blockchain technology BitRewards objective is to change the way the current, broken loyalty industry works. They are big believers that smart contracts and cryptocurrency are the core engine and fuel for the new era of customer’s loyalty. Ethereum allows implementing an elegant technical solution.
HOW IT WORKS
BitRewards offers its own loyalty system. Retailers can either choose to go with this loyalty program (GIFTD extension ) or choose to use the shops loyalty program which can be easily integrated.
This solution rewards customers with BIT tokens for themselves or their friends’ purchases. The BitRewards platform performs all the all the required token processing through and the value of BIT may appreciate because of the limited initial issuance of 2 billion tokens and the constant leading demand for tokens from the growing number of retailers joining the platform.
This probability of appreciation of BIT will encourage customers to save their tokens instead of redeeming them for further purchases, thereby also reducing the amount of free-floating tokens.
Working product
BitRewards originated from an already developed and currently working business GIFTD.tech, which has been running for five years. It’s a rewards and loyalty SaaS for small and medium-sized online stores, which provides a huge and rapidly growing market.
Website : https://bitrewards.network/
TOKEN DETAILS
The token BIT is priced at 0.00003472 ETH per BIT. The minimum amount of BIT tokens that can be purchased is 1000. Currently accepting : ETH and BTC. The soft cap is 3,000,000 USD while hard cap is set at 15,000,000 USD. All unsold tokens will be burnt. BitRewards will use Ethereum powered platform, and is KYC compliant. Country : Singapore.
ICO AND BOUNTY DETAILS
The details of available bounty is provided below:
*Private Pre-sale started on Nov 25, 2017 beginning with exchange rate of 1 ETH = up to 41,000 BIT. The bonus provided was at 42%.
*Pre-sale started on Jan 12, 2018 and ended on Mar 15, 2018 with exchange rate: 1 ETH = up to 40,000 BIT. The bonus was at 39% bonus
*Whitelist Pre-sale starts on Apr 9, 2018 and will end on Apr 11, 2018. The exchange rate at 1 ETH = up to 37,000 BIT. The bonus will be a limited 30% bonus
*Crowdsale commences on Apr 12, 2018 and will end on May 9, 2018 with exchange rate being 1 ETH = up to 33,000 BIT.
The bonus provided will be at 15%
CONCLUSION
A laudable team and a great project idea that however is yet to face the giants in the shopping sector who need to be convinced to cater to a cryptocurrency loyalty program. But if anything, their existing GIFTD platform is proof enough to ensure that the team might just be able to get this done.
For more details visit
Website : https://bitrewards.network/
Whitepaper : https://bitrewards.network/wp.pdf
My Btalk Profile: https://bitcointalk.org/index.php?action=profile;u=1030341
