Blog / Our News / Simpleswap Launched A New Loyalty Program

SimpleSwap Launched a New Loyalty Program

Apr 4, 2024
11 min read

This blog post will cover:

  • SWAP tokens are discontinued
  • How to start?
  • How does it work?

Key takeaways:

  • SimpleSwap is introducing a new Loyalty Program: now users can receive BTC cashback for each finished exchange;

  • SWAP tokens have been discontinued;

  • The amount of cashback depends on your exchange volume: the more you use our service, the higher your level is and the more BTC cashback you get;

  • As soon as you've reached a new level, you keep it forever.

Our renewed Loyalty Program is designed to reward our valued users for their ongoing commitment. We streamlined the conditions and made sure that your crypto journey with SimpleSwap becomes even more rewarding.

SWAP tokens are discontinued

We retired the SWAP tokens on February 29, 2024. Not to worry though, we’ll compensate for all the benefits you've earned within the new bonus system. You’ll move up to the Loyalty Program level that is corresponding to the amount of SWAP tokens you have.

How to start?

First, you need to create a Customer Account. Once you do, you will automatically become a participant of our Loyalty Program and receive the Bronze level. 

How does it work?

Here is a table with all the information in one place, and then we’ll walk you through each aspect. 

Loyalty Program levels

There are four levels. To unlock them, reach the appropriate exchange volume over any 90-day period

Here is how we count them: when you create an exchange, you have 90 days for that trade to count towards your Loyalty Program level. On the 91st day, that initial trade doesn't count anymore, and the period moves forward to include your new exchanges. Think of it like a moving window that always covers the last 90 days. 

In your Customer Account, you can find a chart that shows which trades are currently inside this 90-day window and which ones are not. 

Let's look at the example of John. John signed up with SimpleSwap and his first exchange accounted for 0.1 BTC. He received 0.05% cashback thanks to the Bronze level he received automatically. Two months later, he traded the same amount (0.1 BTC), so now his total is 0.2 BTC within a 90-day window. 

When he came back another two months later, the first trade was not within the 90-day period, but the second trade was. John's third exchange amounted to 0.2 BTC, so his total within the 90-day window became 0.3 BTC (0.1 BTC from the second trade plus 0.2 BTC from the third). This means that John received the Silver level, and from now on he'll receive 0.1% BTC cashback until he reaches the next level. 

Here's the necessary 90-day exchange volume for each level:

  • Level 1 (Bronze): 0 BTC

  • Level 2 (Silver): 0.25 BTC

  • Level 3 (Gold): 1.5 BTC

  • Level 4 (Platinum): 10 BTC

As soon as you've reached a Loyalty Program level beyond Bronze, you'll maintain that status indefinitely. You'll keep the benefits even if your future exchange volume drops. 

You can always check your exchange volume and the information on the Loyalty Program levels in your Customer Account.

BTC Cashback

At each Loyalty Program level, users enjoy a cashback percentage on their exchange volume. The higher the level, the greater the cashback. Here's a quick overview:

  • Level 1 (Bronze): 0.05% cashback

  • Level 2 (Silver): 0.1% cashback

  • Level 3 (Gold): 0.2% cashback

  • Level 4 (Platinum): 0.4% cashback

The minimum withdrawal amount is 0.006 BTC across all levels

Stay tuned, as we are working on adding new benefits for the participants of our Loyalty Program.

SimpleSwap is always here to make every step of your crypto journey easy and rewarding. Join our Loyalty Program now and enjoy a variety of benefits!

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