Monthly Loyalty Program (MLP) Is Now On — Buy, Top Up, Cash Out & Get Rewarded!

Jul 30, 2019
08:07
2 min reading
Last Updated Dec 17, 2020

Choise.com team

Ok. We admit it. It’s been a long wait, but we made it. Today we’re launching the Monthly Loyalty Program (MLP), and you can get your first rewards on August 1st.

This program is designed to ensure that your loyalty pays off. Up to 30% of our crypto-fiat transactional income will now go to the Monthly Loyalty Program Fund — a special account from which we will distribute rewards to all qualified users once a month. Loyalty rewards are deposited in CRPT purchased at market value.

How do we determine your reward?

The size of your MLP reward will depend on two factors:

1) Loyalty group

Your loyalty group reflects how much CRPT tokens you own. Keep in mind that only CRPT held in your Crypterium Wallet are taken into account. If you hold CRPT elsewhere and would like to maximize your MLP reward, we suggest moving those tokens back to Crypterium. However, holding tokens without using any crypto-fiat features generates no benefits.

You can easily check your loyalty group in the “Profile” section. The MLP Fund is split into four parts based on the loyalty categories below:

2) Transaction volume

Your reward correlates to the amount of crypto-fiat transactions executed in the Crypterium App. The more transactions you make, the higher your cashback will be.

What is a crypto-fiat transaction?

The Crypterium App is a one-stop solution to all your crypto-related needs. With it you can move seamlessly across the crypto and traditional economies hassle-free. The app consists of both crypto-crypto and crypto-fiat features. Only the latter qualify for MLP reward.

That means you will get rewarded every time you buy cryptocurrency using your debit or credit card, top up your global Crypterium Card or even cash out instantly to your regular bank card. Later on, you will also benefit from features such as Bank Transfers and Mobile Top-Ups.

An example? That’s What We Thought…

We get it. There is no better way to explain this kind of thing than a good old example. So, let’s imagine the following conditions for a minute and see how it goes:

25,000 users perform one crypto-fiat transaction worth $30 per day
Crypterium charges a 0.5% merchant fee for each transaction
Monthly transactional income = $112,500
30% of the monthly transactional income is credited to the MLP Fund = $33,750

The MLP Fund is split as follows:

5% to Bronze holders = $1687.5
10% to Silver holders = $3375
35% to Gold holders = $11812.5
50% to Platinum holders = $16875

Now let’s think for a minute that there are 100 Platinum holders. The rewards are split as a portion of your transactional volume to the total volume of all customers inside your group. So, if you are a Platinum user and have spent $100 and the compound volume for all users inside your group is $2000 – you will get 1/20 of the Platinum loyalty reward pool.