Love shopping? Wouldn’t it be fantastic if you could earn cryptocurrencies when you order your favourite food or shop from your regular e-commerce sites? An Indian company, GoSats.io, has launched a platform that lets you do just that.

GoSats enables a low-friction way to accumulate Bitcoin when people shop from over 120 brands listed on the platform, including Flipkart, Amazon, Swiggy, Big Basket and Myntra. It also helps consumers become passive investors by collecting the most sought-after asset in history for free.

The rewards industry, estimated at $200 billion, is yet to experience technology disruption. Rewards still revolve around credit card points, airline miles and brand loyalty points. At present, the option of growth for this industry is limited from the perspective of users.

This is where GoSats comes in with the idea of rewards in Bitcoin, a cryptocurrency that has historically increased in value as opposed to other alternatives. The users are not only earning cashback on their regular shopping but accumulating an asset that could appreciate in value over time, unlike all other current reward systems. The Bitcoin they earn with GoSats are going to be more rewarding than any points or cashback or miles they accumulate.

While tapping into the mainstream e-commerce space, GoSats remains the first non-exchange crypto company in India. This sets aside all speculation that only exchanges can be built as businesses around crypto-assets. It gives a more extensive scope for the growth of the Indian crypto market and opens various avenues for experimentation.

Shopping at partnered brands via the GoSats app or GoSats Chrome extension and buying brand vouchers are currently ways to accumulate Bitcoin cashback. Users can download the iOS or Android version from gosats.io. Up to 20 per cent in Bitcoin rewards can be earned by GoSats users for shopping at supported brands. However, spending Rupee and earning Bitcoin as rewards are seen to be a game-changer for the Indian consumer market.

The platform was launched three months ago, and it received overwhelming feedback and support. A significant number of its user-base never held Bitcoin before GoSats. Many are not comfortable buying Bitcoin from exchanges. GoSats wanted to offer them an alternative way to accumulate Bitcoin when they do their usual shopping at their favourite brands and merchants. Company executives help them kick off their journey into the world of cryptocurrency in a risk-free way.

To accumulate Bitcoin, users can click on one of the available brands on the GoSats platform, select a voucher amount and buy it with UPI. After successful payment, a Bitcoin cashback is credited immediately into the users GoSats wallet.

Another seamless way of stacking Bitcoin for shopping is by installing the GoSats Chrome extension. Once installed, users can regularly shop on their browsers across brands listed on GoSats and automatically get Bitcoin cashback after purchases in their GoSats wallet.

However, the reward amount remains indicative until its return period of 30-45 days has passed as GoSats waits for any potential refunds that may occur.

Although the cryptocurrency market is very volatile, GoSats is seen as a risk-free and straightforward way of getting started by earning fractions of Bitcoin called Satoshis for every purchase executed. For the uninitiated, 10 crore Satoshis is equivalent to one Bitcoin, i.e. 1 BTC = 0.00000001 Satoshi.

“Bitcoin is for everyone, and we believe it to be the greatest store of value. So helping just about anybody reward their spending behaviour with Bitcoin is just fascinating,” said Mohammed Roshan, GoSats’ CEO.

Select Brands Available on GoSats

• E-commerce: Amazon, Flipkart and Myntra
• Online grocery: Big Basket, Grofers, and Supermart
• Electronics: GoNoise, Croma and One Plus
• Fashion brands: Fossil, lifestyle, Nykka and Ajio
• Furniture: Urban Ladder and Pepperfry
• Travel: Oyo, Cleartrip, and Goibibo

This author is Co-Founder, GoSats

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