At GoSats, what we do is quite simple – provide ways for our users to convert their expenses made with their hard-earned money into savings in the most superior asset of our time – Bitcoin.
But why Bitcoin?
It’s a question that we receive from time to time.
“Why not just directly as cashback as a lot of our other apps currently out there?
Why can’t it be some kind of points/coins/coupons/other loyalty points?
Why not a GoSats token?”
Today, we are going to be talking about how we believe rewards in Bitcoin are much more superior than all of these other options.
One of the biggest merits of giving out Bitcoin is the very fact that it is decentralized in nature. While this does mean that the price and hence the value of the rewards will fluctuate according to the market, it also means that neither us nor any other third-party can control the price or any other aspects relating to it. Any other reward points or even directly giving out cash back has a centralized nature associated with it. Whether points or coins, several of these tokens almost always have a fixed value set by the program, which often is defined by what is most profitable for the company providing it.
The issue lies in the fact that there really isn’t a lot of scope for your savings to grow. Receiving cashback or any of these other reward options means you are directly or indirectly forced to spend it. Holding cash doesn’t make sense as you only lose your purchasing power to inflation. If you use credit card points to buy merchandise, most merchandise almost certainly will go down in value if and when you resell it. If you buy an airline ticket with miles or book a hotel room with points, you wouldn’t be able to resell them at a profit.
In comparison, Bitcoin is one of the few rewards that has a chance to rise in value and offers an opportunity to profit from.
If you truly understand Bitcoin and it’s potential, you understand how early we are, and how these rewards have a chance to rise in value after you receive them. Obviously, while we believe in the long-term future of Bitcoin. It is important to understand that the market works both ways, and just as the value can rise it can also fall. Especially in the short-term, do understand that there is a risk that the value of Bitcoin may go down after you receive rewards.
Also, while we can constantly track the value of Bitcoin in relation to fiat in real time – loyalty points often don’t have a cash value. A user can’t go to the company offering the loyalty program and ask to redeem the hard-earned points for rupees. Once the money is spent and points are accumulated, you are locked into that loyalty program. If those points aren’t used up, they literally hold no value.
Many people will collect loyalty points with a goal in mind, such as free travel or earning freebies or access to services. However, these points are only good, provided that they can be exchanged in a timely manner without paying credit card interest rates, annual fees or any other additional charges.
In comparison, Bitcoin rewards don’t have an expiration date and can be exchanged for fiat or other tokens at any time.
The other issue is the hassle. To find value in any loyalty program requires a lot of discipline and a clear understanding of how to turn your spending into tangible rewards. Under traditional rewards programs, you may have to carefully break up your spending across multiple credit cards to earn enough points for a reward, or spend more than you are comfortable with to maintain elite status.
To summarize, if you value simplicity and want to save in an asset that has long-term upside and comes without any restrictive terms and conditions, Bitcoin rewards is the answer.
This has always been the mission of GoSats – to bring these benefits of Bitcoin to the masses. Giving out rewards in Bitcoin is a simple, hassle-free and risk-free way for new users to get into Bitcoin and the wide world of crypto. Using GoSats, you can turn your expenses into savings in a superior asset, and continue passively investing into Bitcoin on the road to financial freedom.
Bonus: Now that we’ve launched the GoSats Bitcoin rewards card, you can actually stack Bitcoin alongside traditional programs: For example, if you pay for your airfare with our Bitcoin Rewards Card, you could earn Bitcoin alongside loyalty points. How cool is that?
Book your card now – if you haven’t already!