To most consumers, getting their hands on Bitcoin (BTC) is an arduous task. For those that aren’t so-called “crypto natives”, onboarding onto an exchange that doesn’t carry that same brand name as, say, E*Trade or TD Ameritrade’s Think or Swim may seem risky, especially when you involve passport details and other personal information. But, there have been companies trying to change this moat, so to speak.
One of these is Lolli, a Bitcoin-centric rewards service that acts much like browser extensions Honey or Rakuten Rewards. Today, the startup made a large announcement, unveiling a partnership that will allow its users to travel and earn BTC simultaneously. Nice!
Earn Bitcoin When You Use Hotels.com
Announced on Tuesday via a blog post, users of Lolli will be able to earn Bitcoin when they book vacations with Hotels.com — a leading travel service that gets over 55 million visits a month according to SimilarWeb data.
Hotels.com joins Priceline, Hotwire, Hilton, the Marriott, among other travel-centric partners of Lolli. The service brings its 325,000 listed hotels and properties, which exist in 19,000 locations, to the table, giving Bitcoin-friendly consumer countless options to travel the globe in return for some juicy BTC kickback.
While the exact reward scheme for Hotels.com varies, Lolli clients can earn “up to” 3.5% back on their bookings, in Bitcoin no less. So, if you’re earning in the highest bracket, a $1,000 booking, should net you $35 in Bitcoin.
Better yet, using Lolli is free, as the company takes a slice of the commission instead of utilizing a subscription or paid app model.
Excited to officially announce Lolli's partnership with https://t.co/x6aEaNWpiS!
Starting today, @trylolli users will now be able to stack sats (aka earn bitcoin) when they book travel with one of the biggest travel companies in the world.
— Alex Adelman (@alexadelman) June 25, 2019
Lolli is hoping to capitalize on the massive travel industry, which it claims netted over $1.1 trillion in the U.S. alone during 2018. The company claims that if 5% of this $1.1 trillion sum was routed through Lolli and thus Hotels.com, travelers could have made back about “$1,925,000,000 worth of Bitcoin (~170,354 BTC)” just by downloading the web browser application. To some, not using Lolli is just irresponsible.
In a similar string of news, Hotels.com’s (Expedia) rival, Booking Holdings (Priceline, Kayak, Booking, etc.) was recently revealed to be one of the companies in the Libra consortium. It is unclear what plans Booking Holdings has for its foray into cryptocurrency, but there has been speculation that the company will directly accept Libra once it launches early next year.
The “Stacking Sats” Movement
Lolli was built by devotees to the “stacking sats (satoshis)” movement, which involves Bitcoin diehards that wish to accumulate the cryptocurrency as much possible, usually on a periodic basis. Their ranks include popular commentators in the industry, including Marty Bent, Mr. Hodl, and The Bitcoin Rabbi.
But most notably, a follower of the Bitcoin accumulation movement is Jack Dorsey, the chief executive of both Square and Twitter, the former of which is often used to stack satoshis. Dorsey revealed his allegiance to the movement during a podcast of “Tales From The Crypt”.
He claimed that via Square’s Bitcoin exchange, he purchased $10,000 worth of BTC, which then amounted to 2.7 BTC, and was planning on continuing the allocation for the foreseeable future. But what’s the deal here?
Well, those that are stacking sats are under the impression that Bitcoin will become a widely-used currency and store of value, making it nonsensical to not accumulate the asset when it’s still young. This ties in with the investment strategy of dollar cost averaging (DCA), which sees investors spread out purchases over a period of time to reduce risk and increase potential returns.