Cryptocurrency startup Fold will launch a bitcoin cashback accrual system for buyers using the mobile shopping app in large companies such as Amazon, Uber, Starbucks, Burger King, REI.
A similar initiative has already been launched in the extension for the Lolli browser, but now Fold will be able to compete with him.
The startup already has a number of advantages. For example, while Lolli offers a wallet for storage in a browser that can also be used to send cashback to external wallets, the Fold application automatically sends rewards to an external wallet specified by the user.
Also, the system for using a mobile application is the most convenient and affordable than the extension for the PC.
Fold Product Manager, Will Reeves, said:
“This is similar to rewarding points, only they are expressed in Satoshi. They can be used for purchases or charged to a Bitcoin wallet. ”
In February, this startup already launched a portal to buy Domino pizza via the Lightning Network. Reeves said that with this system many transactions were made, worth about $ 10,000, and dozens of pizza orders continue to go through their service daily.
Leaders at both Lolli and Fold unanimously state that these startups attract thousands of active users every month.