Companies need to explore different means to boost overall interest in cryptocurrency. Circle Invest has come up with a novel way of rewarding its clients. Users of the application will receive a free asset between now and the end of 2018. Which free coins users will get, is completely random. Some lucky users may even obtain a full Bitcoin.
A Smart Ploy by Circle Invest
The year 2018 has not been kind to cryptocurrencies or industry service providers. Even the support of major investment firms has not changed that situation. For Circle Invest, their gamble on introducing Bitcoin trading appears to be paying off. Keeping the momentum going, however, is a different matter. As such, the company has come up with an intriguing reward program.
Brand loyalty is not that strong in the cryptocurrency world. Users freely swap between service providers as they see fit. Circle Invest acknowledges this trend and will now focus on customer engagement. Rewarding users with free crypto assets when they make a purchase is one way of exploring new opportunities. It is a limited reward program running from now until the end of 2018.
This marketing approach can serve two different purposes. First of all, it will bring more visibility to Circle Invest and its crypto investment opportunities. Secondly, it will inject fresh capital into the cryptocurrency industry. That latter aspect has been lacking somewhat throughout most of the year. Even many small amounts of money can make a big difference in the long run.
Keeping the Faith Alive
This business decision by Circle Invest is noteworthy for many reasons. Other companies hopping on the Bitcoin bandwagon tend to drop support if interest wanes. This investment company is taking a very different approach. Although their profit generated through Bitcoin trading is still low, the company sees a lot of opportunities ahead.
Moreover, the company will reward users with random assets. This adds a sense of excitement to the whole promotional campaign. As users also need to Tweet about their purchase, more crypto-related social buzz will be generated in the coming weeks. That can provide a positive end to the year 2018 for the crypto industry. With prices still struggling for stable support levels, any positive attention appears more than welcome.
It is unusual for service providers to reward users in a significant manner. Some exchanges provided 0% trading fees, albeit that is far from the same. Circle Invest is creating a precedent in this regard. Their promotion may force other companies to rethink the way they cater to mainstream consumers. Offering some sort of “tangible” reward can make a world of difference.
What do you think of Circle Invest’s methods? Will it succeed in attracting new users of the platform? Let us know in the comments below.
Images courtesy of Shutterstock, Circle