Fast-forward to today, and things have changed drastically.
Each of these has helped bring cryptocurrency into the mainstream.
As his insights reveal, understanding the potential for crypto rewards could prove key for your future e-commerce success.
Eventually, however, these types of rewards can begin to feel the same to the average customer.
As Kane notes, crypto rewards offer something new and unique that gets the attention of online shoppers.
Crypto rewards can be a great way to build customer loyalty.
Bitcoin is now worth over a trillion dollars.
There has never been more interest in crypto assets.
Its very important to differentiate a rewards program from competitors.
Multiple companies have launched crypto rewards programs in 2021 and amassed waitlists of 250,000 or more.
There is incredible pent-up demand for crypto rewards.
As this example illustrates, becoming an early adopter can be a major competitive advantage for e-commerce brands.
E-commerce brands that plan to offer a crypto rewards program can also look into accepting cryptocurrency payments.
Such measures can show that your crypto rewards program is more than just a bid for attention.
You dont have to be a tech-oriented brand to accept crypto payments and implement a crypto rewards system.
Of course, there is no denying that cryptocurrencies have proven to be quite volatile.
Companies should check that their customers are aware of the risk of holding cryptocurrency assets, Kane says.
We always recommend any company speak with qualified legal and accounting professionals before offering this feature.
