Rakuten, a Japanese e-commerce giant, now allows its users to convert their loyalty points to cryptocurrencies. For now, bitcoin, Ethereum, and bitcoin cash are the only cryptocurrencies to be converted to. One super point is equivalent to one yen when the conversion to crypto is being done.

Per the announcement, the minimum super points that a user can convert into crypto is 100. The company’s aim is to minimize the entry barriers to crypto trading, by providing an easier way to access the market.

Users with the Rakuten wallet can convert their loyalty points to cryptos through the exchange’s app. The Rakuten wallet is a licensed crypto exchange in Japan, registered with Kanto Local Finance Bureau.

There are limits on the number of Super Points to be exchanged for BTC, ETH and BCH, per the announcement. The amount of points that can be converted per transaction and per month have been capped.

Diamond members on the site are permitted to convert 50,000 Super Points. The rest of the members on the site can only convert 30,000 Super Points per transactions.



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