Enabling a Greater Selection of Rewards – “Points to Crypto”
Giving your loyal users greater freedom when using their points is key to retaining member engagement. That is why, as shown by Accenture, “39% of U.S. consumers feel loyal to brands that connect them with other providers, giving them the ability to exchange loyalty points or rewards”. Through our newest feature brands can now enable users to not only exchange their loyalty points into other brand points but also allows them to exchange their loyalty points into 9 different cryptocurrencies.
By allowing more redemption or exchange options, brands can ensure that loyal customers keep spending with a desire to earn more points to spend on rewards, this is especially clear when observing data points such as the one presented by LoyaltyOne, “23% of companies report loyalty customers are spending 4x or more”.
Enabling “Points To Crypto” Feature for My Loyalty Program
The “Points to Crypto” feature was created for simplicity and maximum security. Avoid any barriers to entry when diving into the crypto space and use our solutions to easily allow your loyal members to exchange their loyalty points into cryptocurrency.
No need for private keys, allow your members to simply exchange their loyalty points into crypto using the email address connected to their Coinbase account.
This new feature is here to solve the many issues and barriers to entry by providing you with an easy-to-integrate option that reduces all these extra time inefficiencies and nullifies the risks you may run when implementing points to crypto exchange. Additionally, brands can benefit from a gas-free experience and thus reduce any extra implementation costs, when enabling this new exchange option.
Keep in mind, if you are already integrated into our loyalty ecosystem, you can now simply enable this new feature. For all the brands that aren’t already integrated, don’t worry you can simply integrate using our API, and the “Points to Crypto” feature is ready to use at your convenience.
What Crypto Rewards Are Available?
Through our “Points to Crypto” feature we want to offer users a variety of different cryptocurrencies rather than just focusing on the main ones like BTC and ETH. Therefore you can find our full list of available cryptocurrencies below:
Axie Infinity (AXS)
Internet Computer (ICP)
The tech team is continuously building on this new feature as well as adding new cryptocurrencies so users in our loyalty ecosystem can benefit from maximum freedom when exchanging their loyalty points.
Key Takeaways (TL:DR)
Loyalty programs can suffer from low user engagement and low rewards liquidity, therefore we always strive to find new loyalty solutions and features that can improve on these drawbacks. With this newest feature, “Points to Crypto”, users can now exchange their loyalty points into 9 different cryptocurrencies.
Exchanging points to crypto is easy and take place over the Loyalty Whitelabel App (LWA) but this is not the only option, it’s also available in the qiibee Loyalty API. Brands that use the LWA can enable this feature easily and add it directly. No need for private keys, allow your members to simply exchange their loyalty points into crypto using the email address connected to their Coinbase account or if they don’t have an account, it will be automatically created using that email address.
Some of the cryptocurrencies included are Bitcoin, Ethereum, Polkadot, Dogecoin, and many more!
Loyalty can be a powerful tool if used correctly, especially when brands can create a program that delivers on multiple fronts by engaging users as well as providing them the freedom to redeem or exchange their points for a variety of rewards. These are the loyalty programs that create value for both the brand and the customer! For this reason, we decided to integrate the “Points to Crypto” feature. Explore our loyalty solutions today at qiibee.com.
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