Lolli, The Bitcoin Cash Back Shopping Rewards Web Browser App, Gets A Trial Run
Test Run Of Bitcoin Rewards App Lolli
Lolli is a bitcoin rewards app that states it rewards users with free bitcoin when they shop online. A recent article by BreakerMag discusses a test run with the application. Here is a summary of the app and the test run.
BreakerMag first delves into Lolli’s background as follows. The application is a self-proclaimed “first bitcoin rewards application.” It has over 750 participating partners, which include Macy’s Bloomingdales, Everlane, and Priceline. Since debuting in 2018, there has been an addition of a number of other crypto browser extensions. The platform’s founder and CEO Alex Adelman discussed that the platform is meant to enhance bitcoin awareness among retails and consumers.
He shared with BreakerMag,
“I am a big believer in bitcoin and its ability to connect the entire world through commerce,” said Adelman, who also started the lifestyle e-commerce company Cosmic, now owned by PopSugar. “It’s the first asset I’ve seen where almost anyone in the world can use it, trade it between each other, and hold it as a store value. If you look at how we’re all connected through social connections, the closest ties are when we’re bonded together through commerce.”
As for the application itself, those who use it in an effort to accumulate bitcoin will find that the amount of bitcoin received depends upon the retailer and can be anywhere from 0.5 to 10 percent. Interestingly enough, the merchant is the one that pays out the bitcoin and Lolli receives a percentage of the purchase through affiliate linking to e-commerce sites. Upon approval of the transaction, the bitcoin is sent to the user’s Lolli wallet and they can transfer the funds to their personal bank account of bitcoin address once they have a total value of $15 or 0.0029 BTC.
Upon trying the application, the author of the BreakerMag article Bethany Biron accessed the application, looked through e-commerce sites, and made a book purchase from a retailer. Upon checking out, the author “waited with anticipation” for the Lolli wallet to fill with 0.00010 BTC “only to find it still empty.”
“Three weeks later, I’m still waiting. Turns out, users must wait until the return period is over – anywhere from 30-90 days, depending on the retailer – in order for the transactions to be approved and to receive bitcoin. While this ultimately protects the brands from consumers scamming them out of bitcoin, the delay doesn’t bode well for members of the instant gratification generation like myself. However, all said and done, it was an easy, unfettered way to score a bit of bitcoin.”
Even with the reward delays, Biron notes that the platform has accumulated 10,000 users in its first six months and Adelman says that the platform continues to grow rapidly. Further, at this point, the article also adds that although most of the platform’s brand partners do not accept bitcoin as currency, Adelman is optimistic that it will soon change, saying,
“For many of brands, we had to take something they were familiar with, like point systems and reward systems, to educate them around the power of bitcoin and why it’s important for generating sales and attracting new customers.”