Bitcoin Shopping App Lolli Teams Up With 950 Merchants In Push For Crypto Mass Adoption
The mainstream adoption of cryptos has been one of the main goals of the crypto industry during 2019, and it remains the same.
This year, there have already been made some massive moves to support the idea.
We reported the latest one just the other day – it involves Coinbase and Visa.
From now on, Coinbase is powering the world’s first crypto Visa debit cards for everyday use.
As the first crypto member of the Visa network, Coinbase now allows customers to spend their digital assets such as Bitcoin (BTC), Ethereum (ETH), and XRP, “online, offline and internationally, wherever Visa is accepted.”
Lolli has more than 950 merchants
It’s been just revealed that Alex Adelman chief executive officer and co-founder of BTC shopping app Lolli said that the platform now has more than 950 merchants.
During an interview with CNN’s First Move, Adelman explained how Lolli would introduce consumers to crypto via a reward system that gives cashback in the form of BTC.
Adelman said that a lot of people have their very first experience with Bitcoin via Lolli.
“What we’re trying to do is create the easiest way for people to get into Bitcoin, and we have done so through a cash back model. We partner with merchants and then those merchants pay us when our users shop their site. Then we send people free Bitcoin through their Lolli wallets,” he said.
“Our users can earn 7% (Bitcoin) back across all of our different merchants, an avg & then the actual is about 30%…our highest today that you can earn," @trylolli CEO @alexadelman explains.
PLUS #BTC investing & whether the next "halving" is already priced in! @firstmove pic.twitter.com/89cmTK0Rb4
— Julia Chatterley (@jchatterleyCNN) February 18, 2020
The crypto community showed massive enthusiasm following the news.
Someone said: “Glad to see guests that understand the value proposition of Bitcoin, and bring actual data to the table to back it up. Kudos on a great segment.”
Another Twitter user posted this: “Very interesting 6 minutes. I like mainstream intelligent and smart coverage of Bitcoin. We need more!”
Someone else wrote: “What about #BTC energy consumptionSkull and crossbonesVS #GlobalWarming issueEarth globe americas?
I would rather prefer the 7% rewards to be in #Altcoins. Smiling face with sunglassesEthical business offer to promote ethical investment strategy to the mass. It would help the issue & generate great Marketing PR opportunities. @trylolli.”
Other than this, the crypto market is struggling to recover today following a drop in the price of BTC below $10k.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.