Merchants affiliated with the Cashback Industry can profit from this development by implementing the cryptoback system, as many competing businesses are now providing cryptoback as a reward.
We are currently dealing with a significant issue on a worldwide scale in the contemporary world. The majority of individuals in the world have little assets and those that do have some own things that won’t be of any use to them in the future. They purchase their daily needs and wants with the bit of money they have. They cannot benefit from it in any way.
Conversely, over time, through company dividends and customer purchases, businesses, brands, retailers, or the owners of corporations that profit from consumers grows the value of their brand.
This system currently exists in the business world and does not raise all boats simultaneously. Instead, it is widening the economic divide between the small number of already affluent people and the majority struggling and unable to build their wealth in the same way. The rapidly widening financial gap between the majority of people and the wealthy few have been acknowledged by experts as a severe global issue.
Bion is created to solve these problems. Its service allows consumers to gain rewards from their daily spending instead of losing their money with each purchase.
Cryptoback, the next Cashback
The potential for Shop-to-earn is enormous on a worldwide scale. Globally, there are 5 billion mobile users. At the same time, 55% of online consumers want to get money or benefits. Only 2% of mobile users are crypto holders.
The two biggest cryptocurrencies are Bitcoin and Ethereum, which have been around since 2009. Although many risks are involved in investing in these highly speculative financial products, even risk-averse investors can now participate in the cryptocurrency frenzy without ever making a single investment.
Therefore, the present market opportunity, or Total Addressable Market, is 5 billion mobile users, 55% looking for rewards, times 2% of them holding cryptocurrencies, or 55 million people. It is realistic to anticipate that the market size for crypto Shop-to-earn will increase significantly, given that the cryptocurrency market is predicted to develop at a rate of tenfold in just two years.
Understanding how cryptoback works
Users can earn cryptocurrency as cashback on every purchase they make using shop-to-earn platforms like Bion, which give cryptocurrency as a reward instead of conventional rewards like cash back or points.
Cashback Is Similar to Cryptoback. You already know how crypto-back functions if you know how the cashback incentive operates. When you make a purchase, you’ll receive a portion of your money back in bitcoin rather than a set percentage in cash.
Nothing may help you feel better on occasion than a little retail therapy, and it’s always a plus to learn that your purchases also netted you some cashback.
You can use your earned cryptocurrency to pay for everything from an online service to a cup of coffee because more and more merchants are accepting it.
Although it’s a ground-breaking idea, there isn’t much to it. You can earn up to 40% Cryptoback, when you purchase using the cryptoback platform.
Your associated wallet is immediately credited with your reward. Then, you can trade, use, or HOLD them, whatever you’d like!
The most recent incentive model, known as “Cryptoback,” pays users with cryptocurrency rather than cash. These platforms can be profitable for different levels of cryptocurrency enthusiasts, from the crypto-curious individual who wants to dabble in cryptocurrencies but lacks the risk tolerance to enter the market to the individuals who are deeply invested in crypto and have a firm belief in the sustainability of the digital currency movement and its potential for growth and profit.
But is cryptoback for everybody?
Here, we’ll go over the main benefits and drawbacks.
Pros and Cons of Crypto-Back:
Pro
Low-Risk: Cryptography Overview With cryptoback, people who wouldn’t invest money in cryptocurrencies can instead experiment with them using their collected or earned rewards. You might be able to tolerate the fluctuations when investing your own money in some cryptocurrencies if you can handle rewards balances that occasionally fluctuate considerably.
Con
Volatility: The biggest drawback of crypto-back is that your total reward balance constantly changes throughout the day. A cash-back reward balance, on the other hand, is much more stable because the value of the US dollar does not fluctuate as much as the value of Bitcoin or Ethereum.
How Can Merchants Take Advantage of the Cryptoback Trend?
Merchants that want to take advantage of the cryptoback trend need to partner with modern payment and cryptoback platforms like Bion.
When they partnered with a platform like Bion, they stand to benefit from it by making their products available for more people around the world and also reward their customers through Bion.
Merchants need not to stress, Bion get customers to shop from them on a low percentage return from the product sales.
Bion, the next big cryptoback platform
Bion: Buy In One; this means you can access everything shopping, getting vouchers, Cashback, Cryptoback, Buy Now Pay Later, etc. All within one app.
Bion cryptoback feature is a way of cashing back shoppers in crypto when they purchase through Bion. The cryptoback will be paid in crypto through $BION token or Bitcoin.
When users receive their reward in crypto, they can stake the reward or use it on another purchase and increase their membership tier.
Bion solves the crypto onboarding problem by rewarding users with free crypto when they do daily shopping through our mobile apps. The more shopping you do, the more crypto you earn!
We will partner with large famous local and global brands. Besides traditional brands, we also aim to partner with many crypto projects to educate our users and guide them through other appealing activities in the crypto market.
We are happy to have you with us on the mission to bring crypto to billions of people. An exciting time is ahead. Stay tuned for coming updates as we will soon launch.
