In the blockchain and cryptocurrency community, there are few nations around the world that have managed to capture and legitimize the nascent industry like Switzerland has. Now, Swiss-based FOREX banking service provider Dukascopy Bank is opening up a reward program for new and existing mobile current account (MCA) users.
A Financial Revolution
Switzerland has taken many strides toward fostering the blockchain/cryptocurrency industry with accommodating regulations and infrastructure. Born from this effort was Dukascopy Bank and its native cryptocurrency Dukascoin.
Dukascopy Bank is an online bank based in Geneva, Switzerland that offers internet and mobile trading services across a range of financial products such as CFDs, FOREX and binary trading options, as well as traditional banking and financial services.
In February 2019, the bank launched Dukascoin (DUK+), the first-ever cryptocurrency issued by a regulated Swiss bank, developed on the Ethereum blockchain. The token was created to act as both a payment and speculative utility, bridging the gap between legacy banking and the ever-evolving digital currency economy.
The latest offering from the innovate bank comes in the form of a straightforward reward program with more than one way to earn.
Firstly, MCA users around the world can now earn DUK+ rewards through referral activities and deposits in its native crypto. Notably, for each DUK+ deposited for a 1-year period, the bank will pay a EUR reward of 50 euro cents.
Clarifying this, the bank explains:
“If a user buys 5000 DUK at the rate of 1.07EUR, and at the end of the deposit term the price rises to 1.50EUR, they receive both the benefit from the risen price (2150EUR) AND 2500EUR on top from Dukascopy (0.50EUR for every coin deposited) If the price stays the same, users will still receive 2500EUR from Dukascopy on top of their deposit. Even if the price falls to 0.60EUR, users are still in profit by 150EUR.”
Secondly, the bank offers a 5% annual coin reward rate for fixed-term deposits, which is paid out in DUK+. Depending on the size of the deposit, the reward rate can reach up to 100% during the first year of Dukascoin’s lifespan.
Finally, the “Fat Catz” reward program is one of great interest for users with an average balance of 10,000 or more in DUK+. In this instance, the bank gathers the commission from all DUK+ sellers at the internal marketplace, and then redistributes this wealth to the Fat Catz. For example in June, EUR 1,365 was dished out to 4 Fat Catz accounts.
As a nifty addition to the offering, new MCA users will receive 5 DUK+ upon signing up, which is a free-of-charge process.
The enticing offering is available to MCA account holders new and old, which is a great opportunity for cryptocurrency enthusiasts looking to gain an extra income simply from holding DUK+.
With the service being available on both iOS and Android, setting up a new account couldn’t be any easier. Passive income through crypto has never been better, through one of the most innovative and regulated financial products to emerge in recent years.