The Indian Cryptocurrency market is going through a peculiar phase. While the country is rapidly moving towards massive crypto adoption the regulatory bodies and various other agencies have been raising various concerns which are hampering the functioning of the cryptocurrency sector. However even amid such massive uncertainty a Bitcoin reward company has launched a crypto product for its users. If you are thinking about the cashback reward card released by GoSats then you are correct. This article provides a detailed review of the prepaid reward card launched by GoSats.
What is GoSats ?
GoStats functions with a basic philosophy ie. To bring Bitcoin to the common people. However, while bringing it to everyone the process should be very easy to understand and intuitive. This start-up has been functioning on Stocks. It is an open-source network which focuses on smart deals and decentralised applications related to Bitcoin. The rewards are given through a seamless process wherein smart deals and a stocking process is used. The user’s STX tokens are locked into the network security ansecurityance and the customer is rewarded for his locked assets in the form of BTC. The user ends up earning Bitcoin which is exchanged by the miners as a form of a transactional certificate. The startup focuses on substituting Bitcoin in place of reward points, cashback etc. GoSats currently runs on a web browser and a mobile application and it’s primarily focused on rewarding users with cashback in the form of Bitcoin even while spending at major e-commerce websites such as Amazon, Starbucks or Flipkart.
Review of GoSats prepaid card
The prepaid card is an innovative product launched in the Indian market. The card functions in a simple manner wherein the user can spend Indian currency through the card for any purchase. However, while swiping the card the user earns a reward. The reward is given through a simple process wherein on every swipe the users can earn Bitcoin in fractional amounts.
The rewards are doled out through a dual strategy. While a user is usually granted back in the form of Bitcoin which is valued at 1.5% of the entire amount. Apart from that, the user may also get a chance to spin off the Bitcoin wheel which is located inside the mobile application. While rotating the wheel the users are presented with multiple rewards such as an enenentirelya cashback amounting to 100% of the spent money as well as various other features.
The cards are further bifurcated into two types ie. Intro or Elite. An “Intro” card comes with basic features while upgrading to an “Elite” card provides a user with various features such as personal accident life insurance coverage of around 2 lakhs and airport lounge services etc. Apart from this if a Myntra Gift card is being bought on through the platform the user will get a five per cent Bitcoin cashback.
The company aims to assume total dominance over the prepaid/digital card segment by turning into the most rewarding app in this space. The prepaid card provides a user with an opportunity to earn cash back on any spend. The cashback is known as “Setback” on the platform this cashbaciiishe form of Satoshis. Satoshi can be identified as the paisa of the rupee.