It's been devastating watching the news in the United States. Police violence is a leading cause of death for young men. George Floyd and Breonna Taylor are just two of 751 people killed by police in 2020. There have only been 12 days in 2020 where the police have not killed someone. And blacks are the most common targets. Blacks are killed by police at a rate of 3X their white counterparts (6X in some states), and over 99% of police killings never end in charges.
My father is black with ancestors from West Africa and my mother is white with ancestors from Sweden. Simply because of the color of my skin, I'm a black man when I'm pulled over by the police. It's not hard to see there's a big discrepancy in the way my black and white family members are treated at traffic stops. Not living with a slightly heightened anticipation of death at every stop is one of the many features of white privilege. Failure to see this privilege is part of the problem. It's hard for me to think of any reason that an unarmed citizen of any race deserves to be shot by police seven times the back right in front of their family, then cuffed to the hospital bed to die, like they don't even matter. An attack on one person is an attack on us all, and we won't stand for this any longer. George Floyd, Breonna Taylor and Jacob Blake represent millions of other victims who we will never hear from because they were muted.
We will not be muted. We do not stand with President Trump's policies on immigration, his refusal to ever say the words "Black Lives Matter", his refusal to name black victims of police brutality, his refusal to condemn actions by the KKK and Alt-Right groups, his repeated use of the N word among friends and family, his suggestion that Haiti and other African nations are "shithole countries", and many other wrong and hateful offenses that aren't worth my time or yours.
These actions do not represent America. There are millions of diverse people of all colors, religions, and political beliefs (Red and Blue) fighting against Trump and his crime family in the upcoming election. They are on the front lines for our country in hospitals, military, classrooms, government agencies, law enforcement, tech, sports and other industries doing their jobs, but they are as shocked and embarrassed by our country's global reputation as the rest of the world. We've had enough of the distracting bigotry, corruption, racism, gaslighting, segregation, and police brutality that is being tolerated at the highest levels.
So if you have a vote in any local or national election in 2020, please make it matter. We have more at stake in this election than our democracy.
Now back to gift cards.
August 2020: Product Updates
We made a lot of changes this month.
Design. The domain migration to www.redeeem.com is now complete. You will see an entirely new layout and faster loading times for most of the site, along with a new homepage design. You have one login (using Telegram or email/pass) for all properties on the site. This makes life a lot easier for our developers too as we deprecate the app- subdomain.
Credits. We no longer have Credits (USD/RGC) on the website as we have moved to a no custody P2P solution using an open source Bitcoin (BTC) wallet network called bcoin.io. You can now add or withdraw funds at any time to your crypto wallet with no markup, no minimums, and no withdraw fees.
Lower Fees. We reduced fees to sellers to 0%. We reduced deposit fees to buyers to 0%. We lowered mining fees from 0.0005 ($5.74) to 0.0004 ($4.50) since Bitcoin has landed at a higher price now.
Wyre Deposits. Wyre just increased its daily, monthly, and annual Bitcoin buying limits for debit card and Apple Pay. You can now deposit up to $500 (US) per day or $1,000 (international) with no KYC required. The fee is 2.9% (US) or 3.9% (international) with a minimum fee of $5. They also have limits of $5k (US) and $7.5k (international) per year. Limits all over place, but it's useful. We will credit your account instantly after 1 network confirmation.
Fraud Penalty. We increased the penalty for taken, invalid or locked gift cards from 1% to 5% for sellers for taken, invalid or locked gift cards within the escrow period, assessed at the time of withdrawal. This is inconsequential for our top quality sellers on the platform, and beneficial to all buyers.
Seller Limits. New sellers (under 10 trades) will be limited to sell up to $100 and 30% discount to build a reputation on the platform before graduating to bigger cards. Trusted sellers can sell up to $500 and 50% discount as before. This is to prevent the scammers from flooding the market with $500 cards at big discounts, hoping buyers screw up the refund process. It's the responsibility of buyers to look at seller stats before requesting a refund request, but we don't have to accept all gift card offers from sellers. There are other exchanges for this.
Dispute Rules. We are not changing any rules around disputes as much as we are enforcing them more strictly. If you do not record a video with Loom (software tool for Mac, Windows, or iOS), you will lose the dispute. If the video is hosted on YouTube or another video platform, or has been tampered with or edited in any way, you will lose the dispute. We are moving soon to a fully automated system and the Loom-hosted videos will be critical to winning disputes.
New Brands. We support all Amazon brands and currencies now. We added many non-USA gift cards like Amazon Spain, Amazon France, Amazon Italy, Amazon Germany, Amazon Netherlands, Amazon India, Amazon Brazil, Amazon Australia, Amazon Mexico, and others. Let us know if there's any we forgot.
Max Discounts. There are no max discounts for gift card buyers. This was added for buyers and all hell broke loose on Intercom. So we removed it. It also doesn't fit into our philosophy be an open P2P exchange, so we decided if you have enough money in your wallet you can trade with any seller regardless of your reputation as a buyer. We now have a save/block feature to help you cut through the noise, but buyers are not restricted in any capacity except for fraud. All new sellers will be restricted by rate, amount, quality score (and ugly colors).
Brand Alerts. Brand alerts are back! Buyers especially, we recommend setting up Brand Alerts on your account to get notified about the best deals based on amount, rate, and brand. You can even set the frequency to avoid spamming yourself. You can receive alerts in Telegram or via email when your saved sellers post gift card offers. Subscribe to a seller's offers by clicking the star next to their name on any product offer page. You can unsubscribe to these offers at any time on the same page. Please do not click the unsubscribe button or you will disable security emails too, we're required to have it there by law in many countries.
Rewards. We are now offering $5.00 for each person you refer to Redeeem as soon as they make their first trade and 1.00% of every trade they conduct on the platform, ongoing. We are re-investing 30% of our profits back into our Rewards program since it's been growing so fast. For every $100 your friend spends, you get $1 in bitcoin paid right to your wallet.
Faster Payouts. Redeem has always had fast, no-custody Bitcoin wallets that you can manage without a bank account or third-party institution. We're constantly working to make your portal into the blockchain (our website) more secure and easier to use. In addition to reduced mining fees (0.0004), you can now take up to $7,000 at a time from your wallet, in USD or BTC amounts, every 10 minutes. We added a Bitcoin address validator to the front-end to make sure you're not sending to the wrong address (like BCH for some awful reason).
Offers Export. Your full Offers (and Transactions) history can be exported from their respective pages, broken down by status. This can be helpful for taxes and other accounting purposes. Start a chat with customer support for help.
More Altcoins. You can now convert 30+ cryptocurrencies into discount gift cards on Redeeem with our integrations with Changelly and CoinPayments. Both are suitable options for converting altcoins to Bitcoin, but most customers find the Changelly experience to be faster and a easier to keep organized, as CoinPayments has a bad habit of delaying a lot of transactions.
RedeeemBot. We still see about 20% of all the cards on our platform uploaded with the Telegram app via RedeeemBot. We will continue to add functionality to our trusted little friend, and we encourage you to enable Telegram alerts and play around with the bot.
KYC Limits. We increased our Know Your Customer (KYC) limit to $8,000 in volume for traders in most countries, at which point you will have to download, install and upload identity documents through Civic App on the Identity page. Please note, you may have to re-upload the docs if Civic has to conduct a manual verification. If you manually completed KYC with Redeeem before 2019, we may ask you to submit your documents again with Civic.
Trade Book. On any gift card brand page, click over to the "Trades" tab on the Offers pages to see a list of 30 most recent trades for that brand. Many brands have no trade history, so you can seed the market with some cards!
More product updates to come in September, stay safe out there. Thank you for making Redeeem the most trusted exchange for crypto gift card trading.
–Kyle (CEO, Redeeem)