You earn points for introducing new clients, which can then be used to acquire bitcoin or cashed out in brands.
Revix, the cryptocurrency investment platform founded by Sean Sanders and backed by JSE listed speciality investment group Sabvest, has launched the first bitcoin rewards programme in South Africa.
This means that customers can earn rewards points – which can be converted into cash or cryptocurrencies – for introducing friends to the Revix platform and for making recurring investments.
Customers who accumulate 200 points (worth R400) can redeem them for bitcoin which can then be securely stored on Revix’s platform, invested into other crypto products, converted into rands or withdrawn to another bitcoin wallet.
Sanders says what’s unique about the rewards programme is that it is the first time this has been offered in the SA crypto investment market and is aimed at rewarding those who introduce new clients.
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“Traditionally, rewards programmes have offered cashback, points, or miles. Revix’s Points for Bitcoin Rewards programme will be the first to offer rewards in the form of a non-traditional currency or digital asset like Bitcoin. And while bitcoin isn’t classified as a security, many people treat it as such, which also makes Revix’s new programme the first to offer an investable asset that’s not cash.
The programme bears several similarities to Discovery Health’s Vitality programme, which rewards members for good, health-promoting behaviour.
The Revix model has similar aims and will be expanded over the coming months to reward clients holding their crypto investments for a certain period of time and diversifying their investment portfolios.
This is a tiered rewards programme, starting at Blue and as more points are accumulated, clients progress through to Silver, Gold, Platinum and VIP. The higher the tier, the fewer trading fees the client pays, and the greater the rewards that are unlocked.
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The first part of the loyalty programme encourages clients to introduce friends. Each new client referred to Revix earns the referrer 150 points (worth R300), while the referee gets R200 in cash deposited directly into their Revix account when making their first investment.
Revix Rewards has five levels that start at a Blue level and ends at VIP with 5 000 points. Each new level offers lower fees and other benefits including priority customer support and exclusive merchandise.
This is just the start of a major roll-out of rewards in the coming months, adds Sanders. Revix is aiming to build out new rewards-earning activities over the coming months to incentivise smart investing actions.
“We believe that everyone can manage their own money and so we want to provide the tools, incentives and rewards to do just that,” says Sanders. “We plan to reward customers that HODL (a crypto term meaning to hold on to an investment for an extended period), diversify their portfolio, regularly top-up their investments (known as dollar-cost averaging). In other words, we reward those actions that are geared towards improving your financial well-being over the long-term.”
The release of Revix’s crypto Rewards program coincides with an end-to-end upgrade to Revix’s online investment platform.
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“We’ve spent over 16-months building our revolutionary, new and improved crypto investment platform. The changes go well beyond what you see when you login. We’ve optimised our trading engine so that we can get our customers better crypto prices across multiple exchanges, our system security upgrade is state of the art and we’ve also launched Ethereum as a standalone investment offering together with our Revix Rewards program,” explains Sanders.
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Revix’s Rewards programme should help further elevate the visibility and legitimacy of bitcoin and other digital currencies, adds Sanders.
Bitcoin has won endorsement from big institutional names like Paypal, Blackrock, Fidelity, JP Morgan, MicroStrategy, Harvard’s endowment fund and Square, as well as billionaire investors Paul Tudor Jones and Stanley Druckenmiller. An astonishing feature of the last year is the rate of growth in the market cap of cryptocurrencies: up $1 trillion (R15.1 trillion rand) over the last 13 months. To put that in perspective, the total market cap of cryptos was $190 billion on January 1st 2020. Today it is over $1.5 trillion.
How to start earning rewards
If you’re already a Revix customer, you would already be enrolled on the new Rewards programme. If you haven’t signed up yet, you can go to www.revix.com and create a free account.
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Revix was launched to make it easy to invest in cryptos such as bitcoin and Ethereum, the two largest cryptos by market cap. For those who want to own a broader spread of cryptos, you can purchase the Top 10 Bundle, which spreads your investment equally over the 10 largest cryptos. There’s also a Payment Bundle for those who want exposure to those cryptos focused on the technologies using cryptos as a means of payment. Then there is the Smart Contracts Bundle, which spreads your investment over those cryptos being deployed in the rapidly-developing “business” side of blockchain, where contracts with no intermediary are being made possible.
You can also purchase USDC, a “stablecoin” fully backed by the US dollar, and PaxGold, which is a crypto-token backed 1:1 by physical gold.
The crypto Bundles are automatically updated and re-weighted every month so you don’t have to manually buy and sell to stay up to date with the crypto market.
Investors, where newbies or professionals, can buy and sell cryptocurrencies and unit trust-type “bundles” through the Revix online platform. Even if you’ve never owned bitcoin, you can create an account with no obligations, and learn about cryptos using Revix’s helpful tools and features. The platform is mobile-friendly and makes it easy for anyone to buy, sell or hold cryptos just like they would stocks.
The minimum investment amount is R150
The minimum starting amount for any investment is only R150 so the platform is accessible to everyone. Sign-up is free, there are no monthly fees, with a customer support team to guide you through. You can sell your crypto investment at any time and withdraw your funds: there are no lock-up periods like there are with other investment funds.
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Revix charges no monthly account or subscription fees, but rather a simple 1% transaction fee for both buys and sells and a 0.17% per month rebalancing fee (which amounts to 2.04% a year) on the total “Bundle” value held (this fee is not levied on single cryptocurrencies like Bitcoin or the Pax Gold token).
Sign-up with Revix for free
Revix brings simplicity, trust and great customer service to investing. Its easy-to-use online platform enables anyone to securely own the world’s top investments in just a few clicks.
Revix guides new clients through the sign-up process, to their first deposit and first investment. Once set up, most customers manage their own portfolio, but can access support from the Revix team at any time.
For more information, visit Revix.
This article is intended for informational purposes only. The views expressed are not and should not be construed as investment advice or recommendations. This article is not an offer, nor the solicitation of an offer, to buy or sell any of the assets or securities mentioned herein. You should not invest more than you can afford to lose, and before investing please take into consideration your level of experience and investment objectives, and seek independent financial advice if necessary.