E-commerce has been a booming platform as it was a much convenient, safe and reliable option for trading and selling. The business also is drastically on an exponential improvement phase along with the improvements in the Technology space as well.
Recently, Rakuten one of the key players in the e-commerce platform made a bold move into cryptocurrency trading.
The official statement mentioned that Rakuten will allow its users to exchange the Rakuten Super points or basically reward points that you get while trading in the Rakuten space with Crypto.
This measure is at a very young stage and the company is proposedly dealing with three major Cryptocurrencies like bitcoin, Bitcoin Cash and Ethereum. This recent move from the e-commerce giant is expected to expand the awareness on the Blockchain network and to make the users aware of the advantage and efficiency involved with Cryptocurrency.
However, there are some pre-requisites that you will have to comply with to complete an actual swap for your points with Cryptocurrency.
First and foremost, you are required to have a Rakuten Account linked to a Rakuten wallet to qualify to make such transactions. You must have a minimum of 100 points to actually start the transfer as well.
Some of the curfews in place as by the official report by the company include a 100,000-point transaction cap on a monthly basis and a 30,000-point transaction cap for an individual to regulate the flow in the system. This is subjected to change with fluctuations in the market as well.
The process of accepting cryptocurrency for the transaction is not new for the company. They started the acceptance of bitcoin for transactions way back in 2015 and now they are planning to take the next step ahead with extreme caution.
The company being a giant with nearly a network of more than 1.3 billion members, this move may drastically improve the company in terms of profits, also keeping in mind the increased awareness of Cryptocurrency as well.
The company as afore mark to the venture acquired Everybody’s bitcoin, a licensed crypto exchange platform to enable such swapping services for a whopping $2.4 million in the august of 2018.
The company is also planning of expanding much further in the space with more crypto-related projects in the pipeline. This move from Rakuten will definitely be an influence for other similar platforms to venture into Crypto trading.
