Did you know that Bitcoin boasts $6 billion in online transactions every day? Or that the cryptocurrency market will continue to grow at a rate of 56.4 percent through 2025?
Today, cryptocurrency users exceed 40 million. However, if you're not among this group, it can feel intimidating to know where to start dabbling in virtual currency. Fortunately, the customer loyalty app Lolli makes this choice easy.
Lolli allows shoppers to earn up to 30 percent back in Bitcoin from purchases that they make at participating retailers.
Sure, it sounds too good to be true, but Lolli is a legit and safe app that leads to a fun and straightforward experience. Many well known and popular retailers support the app, refunding a percentage of purchased items in Bitcoin.
Ready to get the full scoop? Keep reading for a full Lolli review of its pros and cons and whether this app's right for you.
Lolli Review: What Is Lolli?
A loyalty rewards program, Lolli encourages consumers to shop by offering Bitcoin, an attractive incentive. Lolli is one of the first companies to make a foray into the loyalty realm.
To earn Bitcoin, you must shop online. Once you've signed up for the app, let the web shopping begin. As you do so, you'll earn and own more Bitcoin rewards.
How does Lolli work? When you shop online at one of Lolli's partner sites, the app gets a percentage of each sale. Think of it as a commission responsible for pointing traffic and sales to each merchant.
In turn, Lolli shares a portion of this commission with its customers. This portion gets paid in Bitcoin and is sent directly to a wallet that you set up in the Lolli app. You can then transfer these funds to a hardware wallet for added security.
What percentage back can you expect to see from Lolli? Participating merchants stipulate this rate, not Lolli.
Why You Should Consider the Lolli App
What makes using Lolli so appealing? Like other loyalty rewards programs, consumers appreciate this commerce reward model. After all, it encourages them to shop for what they love from their favorite retailers.
But Lolli's founders have taken this model a step further. By adding Bitcoin into the mix.
The result? The app demonstrates the power of Bitcoin as a global alternative currency. It also showcases Bitcoin's universal store of value.
It represents a user-friendly, non-intimidating way for consumers to start dabbling in cryptocurrencies. As a result, it's a win-win for consumers who want to earn a discount while getting Bitcoin for free.
There's no better way to get rewards while gaining experience with cryptocurrency.
How to Get the Lolli App
What's the easiest way to get started with the Lolli app? Begin by downloading the Lolli browser extension.
After you've downloaded and installed the Lolli extension for your browser, create an account and register.
Then, each time you visit a partner site, you'll receive an automatic alert. This alert will inform you how much Bitcoin you could potentially earn back from purchases. To gain full access to this functionality, be sure to activate Lolli alerts when visiting a supported store.
The Lolli browser extension is available for both Firefox and Chome. In the near future, the team at Lolli is also looking to support Brave. Due to recent changes on Apple's end, Safari no longer gets updated or supported.
Making the Lolli App Work for You
Shop online as you usually would, and Lolli will track the purchase every time your order is eligible. It doesn't get much easier than this. Convenience marks one of the main strengths of this app.
As already mentioned, Lolli will send the Bitcoins you've earned directly to your Lolli wallet after Lolli gets paid by the merchant, and this usually occurs after the refund period expires.
Your Lolli wallet permits you to withdraw earned Bitcoin once you reach a minimum balance of $15. You can then transfer funds to your hardware wallet for future use. Find out about the ins and outs of a crypto savings account.
You may also withdraw your funds to a US bank account. Transfers to US dollars cost $0.25 for conversion. That said, withdrawing your funds defeats the purpose of the platform.
If you're not particularly interested in holding cryptocurrency, then we suggest going with an app like Rakuten instead.
You may also wish to look elsewhere if you do most of your shopping on your smartphone. Why? You'll be surprised to learn that Lolli currently has no mobile app.
While plans are in place to launch one, this puts a serious dent in the user-friendliness of the app.
Drawbacks to the Lolli App: The Waiting Game
How long must you wait to see Bitcoin funds from the time you make a purchase? You'll need to wait between 30 and 90 days before seeing any actual earnings from the app.
Considering how small these earnings are, that's a long time to wait for an online shopping reward. Why the delay? Lolli must verify each purchase with its retail partners to guarantee smooth transactions in the future.
Returning items on which you've already earned Bitcoin rewards can also muddy the waters of the system. By waiting 30 to 90 days for rewards, Lolli hopes to avoid these problems. After all, most stores have a limit on their return policy.
So, while the long wait proves a disadvantage of the app, it's an understandable consequence of the system and process.
You'll also find some buzz online about consumers waiting a really long time to receive confirmation after transferring funds. Many cite the verification process and getting your Bitcoin as somewhat cumbersome and clunky.
Lolli appears aware of these problems and actively working to rectify them.
Where Can You Shop Using Lolli?
At this point, you're likely wondering about where you can shop and earn Bitcoin using Lolli. Amazingly, the app has relationships with more than 500 top brands, offering up to 30 percent Bitcoin rewards.
Lolli's partnerships include many of the largest retailers that support Bitcoin. They include:
Udemy: max of 12% back
Macy's: max of 4,5% back
Nike: max of 2% back
Sephora: max of 4% back
Adidas: max of 8% back
Booking.com: max of 6% back
And many more
What's more, Lolli works tirelessly to create new partnerships with retailers. These partnerships represent an attractive proposition for retailers who want to show cryptocurrency support, particularly for Bitcoin. In other words, expect their list of partners to continue growing.
Lolli App Bonus: Ensuring Your Online Security
We've all heard horror stories about major retailers and financial institutions getting breached online. Such incidents have likely made you feel somewhat hesitant to give out your personal information. And with good reason.
In January 2018 alone, 19 consumer companies reported data breaches. Many of these breaches resulted from flaws in online or in-store payment systems. These incidents present a real danger for both companies and customers.
So, is your personal information safe with Lolli? The app offers a high level of security.
For one, it doesn't track which sites users visit. Second, it never sells personally identifiable information or data to any third party.
Lolli also appears to spare no expense when it comes to digital safety. They rely on state of the art network security and software to protect customer balances in the Lolli wallet.
Lolli App: An Active Referral and Affiliate Program
Are you interested in partnering with Lolli to bring its services and advantage to a broader audience? If so, you'll be happy to know that they have an extensive referral program.
This program permits you to earn Bitcoin while sharing a referral link. How much can you make through this program? Each party will receive $10 worth of Bitcoin when the referred shopper buys an item at Lolli's partner retailers.
Lolli, Bitcoin, and Your Future Online Shopping
How much can you expect to earn with Lolli? When it comes to shopping online, percentages back prove reasonably high, especially compared to other cashback sites. What's more, if you add the referral program to the mix, you could see decent earnings.
There are many pros to the system, but the cons could leave you feeling a bit frustrated. Lolli still has some work to do on this platform. It's not as established as many of the long-term players dealing in cashback.
If you know about the bugs upfront and feel okay with waiting from one to three months to receive rewards, this may be the app for you. Just don't be surprised if you have to email the company when flaws and delays happen.
Lolli Review: A Great Way to Earn Bitcoin
When it's all said and done, what's our final thought for this Lolli review? The app represents an excellent way to start earning and transacting in cryptocurrency.