Major news has arrived involving the Bitcoin rewards platform Lolli and Albertson’s subsidiary Safeway that operates a chain of supermarkets in the United States. The two businesses are teaming up so that customers shopping through Safeway can earn Bitcoin back as a reward on their purchases.
Based on a Coindex report, the new partnership will allow Safeway customers to earn up to 3.5 percent back in Bitcoin on their online purchases. Safeway currently operates approximately 900 locations in 17 different states. Lolli’s CEO and co-founder Alex Adelman appeared on Yahoo Finance to talk about the partnership. He said he believes “earning is going to be the first wave that gets Bitcoin into the hands of the masses.” Adelman also mentioned based on their data that “30% of our audience, our community is female, 70% is male.”
The Lolli platform initially launched back in September of 2018 after getting venture capital money from the likes of Digital Currency Group and Bain Capital Ventures. With Lolli, once a customer makes their online purchase, a rewards estimate gets calculated. That process can take “a few minutes to a few days” according to Adelman. The reward rebate takes anywhere from one to three months to go out to the customer. That allows Lolli to wait for the returns period to pass by, preventing any potential customer scams to try to earn Bitcoin.
In a July 27 report via Coindesk, Adelman said that on average, Lolli users have earned about $27 worth of Bitcoin so far. That report also says that based on Lolli’s data almost 40 percent of the Lolli users are brand new to cryptocurrency.
That’s a good sign that Adelman may be right. Giving BTC back as a reward or rebate seems like a great way to introduce crypto to the masses. As more customers learn of the Lolli rewards platform, it could increase word of mouth to others to use Lolli. In turn, that will help increase the amount of Bitcoin circulating amongst individuals in the United States.
