rakuten cryptocurrencies
Rakuten Now Lets Customers Convert Loyalty Points To Cryptos
December 26, 2019
rakuten cryptocurrencies
Rakuten Now Lets Customers Convert Loyalty Points To Cryptos
December 26, 2019

Japan’s online retailing firm Rakuten now lets customers convert its Rakuten Group loyalty points to cryptocurrencies.

On Dec. 24 an official announcement by Rakuten stated that the feature is available for the users of Rakuten in Japan having an account with Rakuten wallet, a crypto exchange subsidiary of Rakuten.

Rakuten says that users can now convert their loyalty points to three different cryptocurrencies:

  • Bitcoin (BTC)
  • Ether (ETH)
  • Bitcoin Cash (BCH)

Rakuten Aiming To Boost Cryptocurrency Adoption

Users need to have at least 100 points to meet the minimum for an exchange. In this case, one Rakuten Super Point is worth one Japanese yen (approximately $0.009).

rakuten loyalty points crypto

However, crypto-assets cannot be converted back into Rakuten Super Points. The amount of daily and monthly transactions are capped at 30,000 points and 100,000 points as default, respectively.

Rakuten Wallet aims to boost cryptocurrency adoption while promoting its loyalty program. The company said in the announcement:

ALSO READ :  Crypto ATMs Worldwide Crosses Over 7,000

“Rakuten Wallet hopes to reduce the barriers of entry to crypto asset trading by providing an easy and more accessible way for new users to start, including novice users who are interested in crypto asset trading with no prior experience.”

Rakuten is often referred to as “Japan’s Amazon” while estimated to be worth $14.5 billion as of late December 2019.


Source: Cointelegraph | Rakuten


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!