Coinback Develops Cashback Service to One Offering Coins as Rebate
Do you prefer to make online purchases? Are you motivated even more to shop online when offered a wide range of rebates? A rebate, which typically comes in the form of a reduction, return or refund is extra cash one might be offered with to induce them to shop at a given store. With a similar concept in mind, the Coinback was established – not to give cashback, but fractions of coins, in other words, cryptocurrencies.
With the hype surrounding cryptocurrencies as well as the demand for such services to be implemented, it comes of no surprise that novice investors would be interested in the likes as well. Unfortunately, there still remains a lot of doubt, especially considering factors like low trading volume and market capitalization and increased volatility. This does not have to be with Coinback, as consumers will purchase goods as they typically would. However, what changes is the reward so to speak, that is, it will no longer be cash, but a fraction of a coin, namely Bitcoin.
The single advantage that might motivate consumers to consider the crypto market, is being able to hold fractions of bitcoin without having to invest their own money.
How Much can Users Expect in Terms of Rebates
For the time being, it appears that Coinback supports rebates of anywhere between one and ten percent. While it might not seem like a lot at first, the fact that cryptocurrencies tend to accumulate is a noteworthy point. Most importantly, it is less risky for beginners as they can assess what the crypto market is all about without going all out financially.
How to Get Started
First, consumers are required to establish a digital wallet of their own in which the rebates will be stored. A particular suggestion given by Coinback is that of Coinbase, but many others exist as well.
Then, like any cashback service provider, one is required to download the Google Chrome Extension. This is done to ensure that users are notified of the rebate possibilities depending on a store-to-store basis. While a Firefox version is yet to exist, a spokesperson from Coinback has shared that the service is surely to come into existence.
Finally, it is as simple as shopping and getting notified of the possible rebates. According to a post shared by CNET, the rebate will not appear on the final checkout page, as it will be accomplished internally.
Another facet that makes this compensation system preferable is that users will be given their usual shopping choices which include, Walmart, Macy’s, Nordstrom Rack, Kohl’s, and Staples to name the least.
The similarities between traditional cashback services, and the latest Coinback services are plenty. This is definitely an ideal way to convince consumers, as they will be rewarded with similar percentages, while allowing them to understand the market without stressing about its volatility. Most importantly, such programs can become an ideal start for user adoption of cryptocurrencies and blockchain technology in the real world.
To learn more about Coinback, check out: https://getcoinback.com/how-it-works