Connect with us

894 Safeway Stores in America to Offer Bitcoin Cashback

News

894 Safeway Stores in America to Offer Bitcoin Cashback

The major American grocery store chain, Safeway has partnered with Bitcoin rewards shopping app Lolli. As a result, the shoppers at 894 Safeway stores across 17 states of America will be able to avail a cash-back of 3.5% on every one of their shopping sessions. Safeway which is a subsidiary of Albertson Company, along with Lolli made this announcement via the official blog of Lolli. This partnership is a first of its kind and is revolutionary in many ways.

Bringing Bitcoin to the Mainstream

The reward will be in the form of Satoshis or sats. It is a hundred millionth of one Bitcoin. It is the smallest unit possible in terms of Bitcoins. Although it is in a very small quantity, the customers will still have real-life experience of holding and dealing in cryptocurrencies through this initiative.

The CEO of Lolli Alex Adelman stated that, unlike the initial contentions about Bitcoin being a payment rail, the way cryptocurrencies will come to wider circulation according to him is through people earning them in different forms.

He also added that cryptocurrencies are a better store of value compared to the traditional fiat-denominated loyalty cards. This is because the cryptocurrencies will allow the holders to actually realize their rewards earning them tangible value over time like holding a savings account.

What Does this Mean for Bitcoin

Bitcoin has been under fire from many people in positions of authority, especially in America. These events have given rise to a war of words on the issue. The fate of cryptocurrencies has been put to doubt under these uncertainties. In this respect, this announcement can mean a lot to the crypto community. These kinds of measures to popularize cryptocurrencies and increase the user base can lead to long term growth and stability.

Continue Reading
You may also like...

I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

Comments

More in News

To Top