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An online Swiss Forex banking service provider, Dukascopy, revealed its rewards program for cryptocurrency holders, reports The Merkle.
Rewarding Digital Asset Usage
The bank, which built Dukascoin, the first-ever cryptocurrency brought in by a regulated Swiss bank, will reward users who both trade cryptocurrency and refer others to its associated program with Dukascoin.
As of now, anybody worldwide can access the program via its application. The coin, which is built on the Ethereum blockchain, went live this February and is regulated under Swiss financial markets regulator FINMA.
As of now, anybody who signs up to the application will earn 5 Dukacoins. The other rewards are as follows:
- Referral program for existing clients: Apart from the 5 Dukacoins being offered upon MCA account creation, both new and existing users can get more DUK+ coins by referring others to the platform. For each new user signing up under an existing user, the former receives 5 extra DUK+ coins. Moreover, if an existing user holds the airdropped 5 DUK+ coins from the referral activity over a 30-day period, they are rewarded with extra DUK+ coins. (T&C applies)
- EUR Reward Paid for Deposits in Dukascoins: The Bank pays 50 euro cents for each Dukascoin deposited for a 1 year term.The EUR Reward will be paid at the beginning of the deposit’s term and will be blocked until the term’s expiration. (T&C applies)
- For example, 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.
- Coin Reward Paid on Deposits in Dukascoins: The Bank offers a 5% annual coin reward rate for fixed-term deposits paid out in DUK+ coin. The reward is paid at the beginning of the contract and locked for the duration of the contract. During the first year of the Dukascoin’s lifespan the reward rate will depend on the size of the deposit and can reach up to 100% (T&C applies). More so, the deposits can as well be used as margin for clients with trading accounts.
- Dukascoin Fat Catz Reward Program: The Bank collects commission from all sellers of Dukascoins at the internal marketplace. The collected amount of commission is then distributed among the Fat Catz – clients who’s monthly average balance is equal to or larger than 10 000 Dukascoins. In June, for instance, 1365 EUR was distributed between 4 Fat Catz accounts (T&C applies).
The application is available to both iOS and Android mobile devices.