We will be introducing an enhanced website, app and mobile web experience on Wednesday, July 8th, 2020, and will be eliminating the Credits system entirely in order to move to a Bitcoin standard. You get some free satoshi in the process!
Our mission at Redeeem has always been to accelerate the adoption of Bitcoin and other cryptocurrencies into the global economy. We want to decentralize and democratize the control of money, especially for people living below the poverty line or with limited access to banking services. In an effort to achieve this goal, we are making a series of changes that will go into effect on Wednesday, July 8th, 2020 at midnight (UTC) and will impact all Redeeem users.
1. All transfers in and out of your RedeeemPay escrow wallet will now be completely free (0% fee). Instead, we will be charging a 3.5% fee to your wallet at the time of gift card purchase, calculated in Bitcoin.
2. We will be eliminating Credits (RGC) entirely. All RedeeemPay deposits into your escrow wallet will remain pegged to Bitcoin and will fluctuate in cash value with the price of Bitcoin.
3. At midnight UTC on Wednesday, July 8th, 2020, all unspent Credits on your account will be converted to Bitcoin (BTC) with a 3.5% bonus in good faith to protect you from volatility in the market. Starting on July 8th, 2020, all new deposits can be withdrawn from your wallet with no restrictions.
Next week, we will also be unveiling an entirely redesigned website and app framework that is faster, more streamlined, and presents new insights about each gift card market, its sellers, trade history, recommended discounts, and more. We've been gathering feedback from our customers for months to help inform every aspect of this release, and we're excited to unveil it for you soon!
If you'd like early access to the new site, please drop a DM to one of our support agents and we will try to give you a test-run early next week.
Onward and upward.