Hi! I still wonder how can i withdraw the BIT tokens in case i lost my 2FA?
Hi,jenalyss3 we are working on it, you'll receive an email about this issue |
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Good evening, How will your platform’s source code be protected? I am afraid that if an intruder gets an access, it may have a negative effect on overall security of the platform.
What do you mean by protecting the source code? We plan to fully open source our platform. |
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One of the most interesting loyalty program ICOs this year. Good luck BitRewards  Thank you for your support! |
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Do I need to have an ethereum account and then send the tokens there? or can I leave it on your site?
Hello! You need to pass KYC and confirm withdrawal on your email. |
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Advise me how to login if 2FA is lost?
Hi ! Unfortunately, there is no way to disable or reset 2FA password, however, if you have already tied your ERC-20 wallet to BitRewards wallet, then you will receive tokens after the 10th of May |
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isn't this project idea is same with ncash
Nope, the ideas are pretty much different, while we are both focused on the great market of improving retail business. 1. We focus on the online retailers (growing market), they focus on the offline retailers (shrinking market). 2. We focus on the loyalty & rewards (endless flexibility), they focus on the physical customer identification (limited flexibility). And many more differences. Anyway we would like not to discuss other projects in this thread ?? Hope you understand |
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What do you guys think about freezing the tokens on the account of the buyers for some time? I think they wont be against this ‘cause the tokens’ price will grow during this period of time.
The probable appreciation of BIT encourages customers to save their tokens instead of redeeming them for purchases, thereby also reducing the amount of free-floating tokens. |
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What about scaling of your solution? Did u manage to select an optimal programming language to solve this issue?
Hello! Our solution runs on a very popular block-chain system Etherium, so it is not a problem. |
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Hello please tell me is bitrewards POW or POS?
Hello! Good question! Our token is based on the Ethereum blockchain. So we can't say that BitRewards itself is either PoS or PoW. Meanwhile, Ethereum currently is PoW, with a probability to switch to PoS in the future. |
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The only problem I have with that is that it defeats the purpose of a loyalty program since you're not binding the customer to your store. One can simply go to another one in the BIT network?
Please understand that it’s not that straightforward. It depends a lot on the specific settings for every merchant. We are combining the rewards that you can use only in the given store with the incentives that stimulate better than points to buy and refer friends Think of a blogger who posted a link to a store’s product to his followers incentivized by a chance to earn crypto on their purchases. She wouldn’t have done so for the points. We are offering the solution which will mix both internal points and open-loop crypto rewards to achieve the maximum efficiency Also, don't forget that crypto rewards would be a great attractor of sales for any shop. People would love receiving crypto-cashback and other crypto-rewards, so they would be more at the shop offering them. That's another piece of value that we bring to e-commerce. |
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Dear, BitRewardsTeam. If I only participate in the bounty company, do I have to go through the identification? Or only investors must to go the KYC?
Hello Kokoska! No you don't need KYC |
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Hello!Ii have submitted kyc form today, do I need to manually withdraw or will get tokens automtically?
Hi, Nairazdenek! Hello, you'll receive a confirmation email after KYC is passed |
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What if the value of 1 BIT gets to 100 and a store rewarded a customer 1 BIT for buying a product of 50$. How will this affect the rewarding system?
Hello! There is no affection at all. The customer will either sell his 1 BIT or keep it. If he sells it, it will make a price a little lower than $100. If he keeps it, it will drive a price of BIT above $100. The store is independent of the BIT/USD price, please check out our previous answer. The rewards in BIT will be less when the BIT price is up. When the merchant wants to reward a $1000 buyer with $50 cash back, our software will automatically buy BIT tokens for $50 on the exchange and give them to the customer. So the merchant is independent of the token volatility. |
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Isn’t this the same idea as Benebit?
No, it isn't. First, we are real people ?? We are in the business for 5 years, working together at GIFTD ( https://giftd.tech ) and building valuable marketing tools for e-commerce (see "Live Demo" on https://bitrewards.network). That makes us very different from the most of ICO projects in general, and loyalty-connected ICOs particularly. Also, there was almost nothing in Benebit's idea excepting the cashback, while we focus on many different rewards: cashback, friends referred bonus, likes & shares on social networks, product reviews, video reviews, website reviews, bug reports, etc. Our software is an advanced thing and it can be customized to any e-commerce business needs. |
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Are there plans in project team to visit the blockchain conference ? And do you plan to invite large companies to cooperate?
Thank you for the question! We have a roadshow presenting our project all over the world, check our Medium: https://medium.com/@bitrewards |
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Usually, the confirmation of a payment in the Ethereum blockchain takes about 60 seconds. Don't you think this could hinder the development of the platform?
As soon as the Lightning Network and Raiden Network technologies become available, the BitRewards Wallet will be integrated with them and become a part of these networks. It will speed up transactions to a few seconds. |
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What's different between BitRewards and Retainly
Thank you for the question! Regarding Retainly - it's for sure an interesting project that deserves some attention. However, it's not accurate to compare it with BitRewards for a number of reasons: 1) One thing is to talk, another one is to show. BitRewards is based and backed by a successful product - GIFTD - that was launched in 2012. Our team have enough expertise to extract the most from the distributed ledger technology to apply an innovative approach towards loyalty management market. Working product means a lot. 2) We focus not only on cash-backs but on any reward systems, so giving customers a freedom to choose. It also gives a necessary flexibility to BitRewards regarding different market trends. 3) We share the same spirit - to provide every citizen with cryptocurrency, though the realization differs - the RETN token economy is totally unclear from the whitepaper. Also, the liquidity issue has no place in it, whereas we describe token liquidity in detail. All in all, we're open for potential co-ops as the only reasonable goal for us is to make the loyalty management market more efficient and beneficial for all the participants. |
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Good day. Let’s say, the store has run out of the tokens and the employees cant replenish the account right now. Is it possible to write an algorithm which would automate the replenishment process?
Since a lot of retailers are not quite ready to work with cryptocurrency exchanges directly, operations will be handled through the BitRewards’ operator company. The operator will deal with all crypto transactions between the merchant and the customer and will give the bill in USD for the merchant. |
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Good morning. I cant really understand – will the use of the platform be free or will I have to pay with tokens for this?
There will be two types of service levels: 1. Managed — when the entire software system and BIT token balance of the merchant are managed by BitRewards. That would be $0/month. 2. On-premise — when the merchant has its own server with Ethereum node for managing the BIT tokens. That would be about $10/month. Also, we are going to introduce a transaction fee for BIT token transfers from shops to users. We'll do it not earlier than after a year of operations, and probably later. The commission fee will not exceed 0.5%, probably will be lower, depending on the BIT token demand. |
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Hello. Can you please share your marketing and sales strategy? It is really interesting thing to know
Hi, we won't like to share it publicly as ICO market is a competitive space. However, some details may be shared already. We pursue a weighted strategy with regard to the online marketing campaign, so we've split it into three stages: - collection of analytics, targeting, key audiences - testing of segments in different countries, content adaptation, creatives and formats testing - full-scale ad coverage and targeting in chosen countries |
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