Business 5 November 2018Erik Gibbs
Coinseed offers crypto “cash back” program
A relatively new startup that has been flying under the radar is preparing to give cryptocurrencies an economic boost. Coinseed is going to include a new feature in its app that will offer a cash back loyalty program that will reward consumers by giving them crypto based on purchase volumes with retailers such as Walmart, eBay, Panasonic and more.
The Delaware, U.S.-based company indicates that users of its app will be able to make purchases at a variety of online merchants and pay with a debit or credit card. A percentage of the amount spent will be returned to the shopper in the form of cryptocurrency and the amounts can range from 1-8%. Users can choose between the different currencies supported by Coinseed, which currently number 13 and include Bitcoin BCH, Bitcoin Core, Ethereum and more.
Coinseed now offers an app that allows users to purchase crypto with their spare change when making online purchases. Purchase amounts can be rounded up, with the difference sent to a user’s wallet. It also allows for recurring crypto purchases and one-time investments.
According to a statement by the company, “Coinseed is an application that allows users to effortlessly invest small sums into their customized cryptocurrency portfolio. The app’s most innovative feature allows users to connect their credit card to a portfolio, round every purchase made with the card up to the nearest dollar, and automatically invest these cents into the portfolio.”
Coinseed is a trading and investment app that is available for both Android and iOS devices. It allows users to trade a number of cryptocurrencies with a single click. It also includes a simulated trading platform where users can experiment with their own market analysis without risking their assets, as well as weekly trading tournaments.
Coinseed launched at the end of last and held an initial coin offering (ICO) for its own CSD token this past March. The platform had initially been made available internationally, but had to pull back in order to receive financial approval in the countries where it wanted to operate. According to the company’s website, it is now only available in the U.S., but plans on adding support for additional countries as soon as it receives regulatory approval.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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