Japanese E-commerce Giant Rakuten’s Users will, now, Convert points into Crypto
Japanese based e-commerce giant company, Rakuten, announced in a press release that users now convert their earned points to cryptocurrency. Currently, they can swap points with Bitcoin, Ethereum and Bitcoin Cash.
According to the announcement released on the official site of Rakuten, the service is providing by the Rakuten Wallet, the cryptocurrency exchange. The aim of the initiative is to make the process easy and simple for crypto trading.
According to the announcement:
Through the launch of the new service, Rakuten Wallet hopes to reduce the barriers of entry to crypto asset trading by providing an easy and more accessible way for new users to start, including novice users who are interested in crypto asset trading with no prior experience.
Super Points are Exchangeable
However, there are some instructions and limitations which need to be considered. Only Rakuten Super Points are exchangeable with the digital currencies. The other points as a result of loyalty programs such as ‘’Limited Time Points’’ are not exchangeable with crypto.
It is also worth noted that one Rakuten Super Point is equal to one yen which means one point is equal to $0.0091. One cannot convert less than 100 Super Points at one time. There is also a limitation on the conversion numbers based on the members’ category.
Diamond members of the company have more advantages as they can swap 50,000 points per transaction and the monthly limit is 500,000 points. But on the other hand, normal members of the site will be able to convert 30,000 points per transaction and the monthly limit for them is 100,000 points.
Rakuten Wallet is the subsidiary company and exchange of cryptocurrency that is functional in Japan. It established in 2017. The e-commerce website Rakuten started accepting payments in BTC in 2015 for US users and customers.
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