I am always looking for new coins and tokens to invest in and the loyal coin caught my eye recently. I just learned about it and I am here to tell the world about it as well and help you decide if it’s a coin you should invest in or not.
So in today’s article, we’re going to learn what is loyal coin, as well as if it’s worth buying lyl as a short term or long term investment.
Remember: I am not a financial advisor and these are just personal opinions. You are the only one responsible for any financial decisions you make!
introduction-
LoyalCoin (LYL) replaces traditional customer loyalty rewards programs with a flexible, fully transferable token that can be used to redeem rewards from any participating brand, anytime, anywhere. It creates a more open ecosystem for customer loyalty that strengthens relationships between brands and their customers. LYL is a token built on the NEM Mosaic platform.
Peer-to-peer cryptocurrency and blockchain platform NEM said that its partner LoyalCoin had joined with Grab Philippines to allow passengers of the ride-hailing company to use LoyalCoin to pay for rides using Grab.
Components of the Loyalty Economy
LoyalPlatform is the ecosystem from Appsolutely that will spearhead the Loyalty Economy. By using a virtual currency, digital wallet, a series of white-label applications and a coalition of supporting merchants, Appsolutely will change the current loyalty landscape into a value-focused, cryptocurrency-based rewards system that dwarfs traditional rewards programs. LoyalPlatform will help customers be more engaged with companies’ loyalty programs, while acquiring better rewards for their consumption.
LoyalCoin (LYL) is the token that serves as the official virtual currency of the new Loyalty Economy. The goal is for consumers to be able to earn and spend LYL whenever and wherever they prefer to buy goods and services from any participating merchant within Appsolutely’s Loyalty Economy. This creates an open loyalty ecosystem where the consumer decides where and how they’d like to redeem the rewards they’ve earned.
The LoyalWallet is a mobile app that enables brands and consumers to store and use LYL to redeem loyalty rewards and buy items from all participating merchants (not just one). The LoyalWallet provides expanded features such as the conversion of LYL to other currencies. Rewards recipients can even convert rewards into fiat currencies and cryptocurrency counterparts, such as Bitcoin (BTC), Ether (ETH), and many others. This app will enables sending and receiving payments to and from other LoyalWallet users, as well as from participating merchants and other companies who enabled the option to pay with LoyalCoin.
How Does LoyalCoin work?
LoyalCoin will enable users to spend their loyalty tokens outside of the company that provided them with loyalty rewards tokens. This way, they can use their points accumulated in two different companies in the services of a third one, for instance.
Not only the rewards could be used universally, they can also be used as payments for other services. This has the potential to transform loyalty points in real currency to be used to buy products and services.
Finally, the users can also exchange points between each other, giving them as a gift for their best friends or using them to pay for something. LoyalCoin could be the way to really transform loyalty systems in ways to make real money.
Recent partner
Loyalcoin Announcing the new partner (Grab) few minutes agao in their social media accounts.
About GrabTaxi Holdings Pte. Ltd. It is a Singapore-based technology company that offers ride-hailing, ride sharing, and logistics services through its app in Singapore and neighboring Southeast Asian nations such as Malaysia, Indonesia, Philippines, Vietnam, Thailand, Myanmar, and Cambodia. Grab will open a new major development center and office in Seattle that will serve as a tech hub to attract talent in the United States.
According to Forbes media, “When Grab closed a $2.5 billion fundraising round in January, it not only valued the ride-hailing company at north of $6 billion, according to Pitchbook, but it also put cofounder Anthony Tan on the list of Malaysia’s 50 richest.”
Achievement 02. Loyal Wallet in both Android and iOS devices
Last June 22 2018, The Loyal Wallet is finally live for both Android and iOS users, within the Apps, more interesting to non-loyal coin holders who want to check out the token soon and use to received crypto (LYL) rewards on the avaiable merchants. You’d like to download it? Search LoyalWallet on App Store and Google Play Store.
*Available LYL Merchants on Loyal Wallet
Gong Cha (Uptown Mall, BGC Branch) *redeeming Loyal Coin at Gong Cha is now available in Uptown Mall, Eastwood Mall, and Trinoma. All 82 branches of Gong Cha will soon follow.
Pizza Studio (Uptown Parade, BGC Branch)
Punta Mandala (Pleasant Hills, Shaw Boulevard, Mandaluyong)
Amanda’s Place (coming soon)
Get Go (coming soon)
*Loyal Wallet List of Current Rewards
Gong Cha
Free Drinks worth Php 110 = LYL 53.33
Free Upsize = LYL 16.67
Gong Cha Calendar = LYL 16.67
50% Discount on Drink of the Day = LYL 33.33
Gong Cha Planner & Calendar = LYL 33.33
Punta Mandala
Nachos Mexicana = LYL: 733.33
El Sisig with Egg = LYL 916.67
Beer Bucket = LYL 1000
*Loyal Wallet Account Verifications
As of the moment, Know-Your-Customer (KYC) process are through a phone number and email only. However, the App mentioned that more requirements for the KYC process will be rolled out in the next version of the Loyal Wallet App.
I’d like to ask you something,🤔
What if, this food chainslike mcdonalds,burger king and kfc etc will acquire the technology of Loyalcoin? Then, what would be next LYL price, #DYOR!😍 Learn more about loyalcoin, visit: https://loyalcoin.io/
cheers