Cryptocurrency is expected to grow rapidly in the coming years, so it is time to start investing. There are over 320 million crypto users worldwide, making the industry a bit competitive and even scary for new investors. If you want to find a way in, we suggest using a loyalty rewards program that will pay you in Bitcoin. The best program today is Lolli, and we will tell you more about it. So, what is Lolli?
Lolli At A Glance
Lolli is the first rewards program that pays you Bitcoin!
Lolli is a rewards application that allows you to earn Bitcoin when you shop online at participating retailers. When you shop at a participating retailer through the Lolli website or browser extension, you can earn a percentage of your purchase back in the form of Bitcoin. Lolli is designed to make it easy to earn and own Bitcoin, even if you have little to no prior knowledge of cryptocurrency.
As you can see, the catch is to shop at participating retailers, but who are these?
Lolli works with over 10 000 online retailers to offer bitcoin rewards to users who shop with them. Some of the participating retailers include:
- Best Buy
This list is just a small sample of retailers participating in the Lolli program. You can find a full list of participating retailers on the Lolli website.
Remember that the list of participating retailers may change over time as Lolli adds new partners, and some partners may leave the program. Therefore, it is ideal to regularly check the Lolli website or app to see the most up-to-date list of participating retailers.
Lolli was founded in 2018 by Alex Adelman, the company’s CEO. Adelman came up with the idea for Lolli while working as the Head of Growth at Cosmic, a company that provided space-themed gift boxes. After noticing that many of Cosmic’s customers were interested in Bitcoin and other cryptocurrencies, Adelman decided to create a platform that would allow people to earn Bitcoin while shopping online.
Today, it is an easy-to-use app or browser extension that allows you to earn up to 30% back in Bitcoin when you shop online at over 500 top retailers. To put it simply, Lolli is a rewards program that pays you in Bitcoin for shopping with its partnered retailers.
Once you’ve registered with Lolli, all you have to do is add your favorite stores from the list of 10 000+ options and then start shopping, and your Bitcoin earnings will be deposited into your Lolli account.
You can also earn additional rewards by referring friends and family to join the platform: they get up to $10 in BTC, and you get 20% of whatever Bitcoin value they’ve earned.
Is Lolli Legit?
Yes, Lolli is a legitimate company. It is available as a browser extension and mobile app that allows you to earn bitcoin when you shop at participating online retailers.
When you purchase from a participating retailer, you receive a percentage of your purchase back in the form of Bitcoin, which is then stored in your Lolli account.
There have been some concerns about the security of Bitcoin and other cryptocurrencies, but Lolli takes steps to ensure the safety of its users’ Bitcoin, including storing it in secure, offline crypto wallets. As such, even FUDs and other challenges in the crypto industry will not affect your Lolli account.
In addition to using offline storage, Lolli also employs other security measures to protect its users’ Bitcoin, including using secure servers and encrypted connections.
How Does Lolli Work?
Now that we’ve established Lolli is superb and legit, you do not want not to be earning free Bitcoins, especially if you regularly shop online.
As you know, Bitcoin has appreciated in value over the past decade, making it the most expensive cryptocurrency in the world. So, you can use Lolli to earn Bitcoins through your online shopping, and here’s how to do it:
- First, you need to install the Lolli extension on your web browser. Alternatively, you can download the Lolli app on your mobile device. Once installed, create an account through your email address and set a strong password.
- Then, browse through Lolli’s listed retailers to find your shop. When you do, you can start purchasing items.
- When you make a purchase, you will receive a percentage of your purchase back in the form of Bitcoin. The amount of bitcoin earned varies depending on the retailer’s offer and the value of a specific purchase.
- The Bitcoin is then stored in your Lolli account, which you can access through the app or the website. You could withdraw your crypto to a personal wallet or keep it in your Lolli account to keep growing your Bitcoin portfolio with future purchases. In addition, you can use the Bitcoin balance to make purchases from other participating retailers.
Lolli makes it easy for you to earn bitcoin while shopping online at your favorite retailers. It is a straightforward and convenient way to get started with cryptocurrency, and you can also use your Bitcoin balance to make purchases from online retailers while earning more Bitcoins!
How Does Lolli Make Money?
Lolli makes money by taking a percentage of the Bitcoin it earns from participating retailers. When a user purchases at a participating retailer, Lolli receives a percentage of the purchase price in the form of Bitcoin.
It then returns a portion of this Bitcoin to the user and keeps the rest as revenue.
The percentage of the purchase price that Lolli keeps as revenue will vary depending on the specific terms of the offer with the retailer.
Lolli’s partnerships with retailers allow the company to offer its users discounts and rewards, which helps drive traffic to the retailers’ websites and increase sales. In exchange, the retailers pay Lolli a percentage of the purchase price as a form of compensation. This is how Lolli earns Bitcoin from participating retailers.
As the most successful company of its kind, Lolli also relies on external funding for operational costs and to fund its growth. While most of the revenue from the Bitcoin reward program covers operational costs, the company also runs campaigns to fund growth.
An example of such campaigns is the company’s Series A funding campaign led by Acrew capital, from which Lolli raised $10 million to enhance investment in the gaming sector.
How to Invest in Lolli
Lolli is not a publicly traded company, so you cannot buy its shares on a stock exchange. However, the company has raised money through equity crowdfunding campaigns, but it is not required to disclose this information to the public.
If you are interested in investing in Lolli, your best solution would be to contact the company directly to inquire about investment opportunities.
In the meantime, you can join Lolli and start earning Bitcoin, which you can later use to invest in the company when the chance arises. Here is how:
- Go to the Lolli website or download its app version from the App Store or Google Play.
- Follow the prompts to complete the installation or app setup process.
- Once the extension or app is installed, you will be prompted to create an account. Follow the prompts to create your account and provide any necessary information, such as your name and email address.
- When your account is set up, you can start earning bitcoin by shopping at participating retailers. Simply shop as you normally would, and Lolli will automatically track your purchases and credit your account with any applicable rewards.
Like other cryptocurrency platforms, Lolli offers a wallet for all its users. The wallet feature allows users to manage their Bitcoin earned from online shopping through Lolli.
Lolli stores users’ cryptocurrency in secure, offline wallets. This means that Bitcoin is not stored on the internet or on any computer, which helps to protect it from hacking or other forms of cybercrime.
Offline storage is considered a more secure way to store cryptocurrency because it is less vulnerable to attack. Offline storage works the same way as hardware wallets that you will also need for your crypto portfolio.
Hardware wallets are physical devices that are specifically designed for storing cryptocurrency offline. They look similar to USB drives and are used to store the private keys associated with a user’s cryptocurrency. Offline storage, on the other hand, refers to storing cryptocurrency offline, including hardware wallets and other methods, such as paper wallets.
Lolli uses various offline storage methods, including hardware wallets, to securely store users’ Bitcoin.
The Lolli wallet is integrated into the Lolli app and website and can be accessed through either platform. Through the wallet, you can view your current Bitcoin balance, track your transaction history, and transfer Bitcoin to and from other wallets.
It is important to note that the Lolli wallet is not a standalone product and is only available to users with a Lolli account. To use the Lolli wallet, you will need to install the Lolli browser extension or download the Lolli mobile app and create an account.
While you can use the Lolli wallet to store and track your portfolio, understand that it is a custodial wallet, meaning your crypto keys are known and controlled by Lolli. In most cases, you may want full custody of your keys and, thus, Bitcoins, so it will be an excellent idea to transfer your Bitcoins to a personal non-custodial wallet.
Luckily, Lolli has a pretty straightforward withdrawal process where you only need to have a balance of Bitcoins worth $15 to initiate a withdrawal.
As mentioned above, Lolli is available as a desktop extension or as a mobile app. You can earn Bitcoins easily by downloading the Lolli mobile app, which allows seamless shopping on the move. Remember, you earn Bitcoin with every purchase you make through Lolli, which makes having the app with you everywhere imperative.
The mobile app is available for Android and iOS smartphones. Once you download the app, you can sign in to your account if you have joined the program through the web extension. If not, you can also join the Lolli program through your app, making sure to save all the stores that use the Lolli reward system.
Advantages of Using Lolli
Lolli is the best and easiest way to get into the crypto world. As a Bitcoin rewards program, it allows you to earn Bitcoin from your online purchases. All you need is to download the app or install the Lolli browser extension, create an account, and start shopping from Lolli’s participating retailers to earn Bitcoin. Besides earning Bitcoin, here are other benefits of using Lolli:
- It brings your favorite retailers into one place/app, thus making shopping more convenient
- Lolli is free to use
- Lolli is an excellent and non-intimidating way for everyone to get started with crypto
- It is available for Android and iOS smartphones
- It is easy to download on all browsers, including Chrome, Firefox, and Safari
- It allows you to withdraw your Bitcoins worth at least $15
- It offers a secure wallet to hodl your Bitcoin portfolio
- You can also earn Bitcoins through referrals
- Participating retailers determine how much Bitcoin you earn
While Lolli makes owning Bitcoins easy, it also has shortcomings. These include:
- It only rewards Bitcoins, so not ideal for you if you want other cryptocurrencies
- It has a minimum withdrawal amount of Bitcoins worth $15
- Earnings take a long time before they reflect in your account
- Lolli is only available in the United States
Lolli is the best way to start growing a crypto portfolio, even when you don’t know much about the industry. It allows you to earn Bitcoin as you shop online and even has a secure wallet to store your portfolio. In addition, Lolli is easy to use, so you will not even need the best crypto exchanges to start earning.
So, if you didn’t know how to use Lolli, we hope this honest review guides you to earning crypto as you shop.
Featured Image Source: blog.lolli.com