At Lootup, we are thrilled to offer you a variety of ways to redeem your reward points, whether you choose to exchange your points for cash via PayPal, gift cards, or cryptocurrency via BitPay. If you choose to redeem your points to cryptocurrency, here is what you can expect:
Types of cryptocurrencies available:
When redeeming your reward points for cryptocurrency via BitPay, you’ll be prompted to select which type of currency you would prefer to receive. These payment options include Bitcoin, Litecoin, Dogecoin, Shiba Inu Coin, and more. Please know that when you make a redemption to your BitPay account, the payment you receive will always reflect the crypto wallet you’ve chosen to connect with your BitPay account.
Do I need to have an account with BitPay?
In order to redeem cryptocurrency with BitPay, all users will be required to create a free account at BitPay.com for easy, quick transfers. To connect your Lootup account to Bitpay, simply follow these steps:
Step 1: Submit your reward points redemption in Lootup.
Step 2: You’ll receive an email invitation; open the invitation & follow the prompt to create a free BitPay account or log into an existing account.
Step 3: Once logged in, select & add your desired cryptocurrency wallet to your BitPay account. This wallet you select is the type of currency you’ll receive when redeeming points from Lootup with BitPay.
Once I redeem my points, how fast will I receive my payment?
We are dedicated to making your transaction fast and easy. All payments are made within 2 business days from the redemption date. Business days exclude weekends and US holidays. Once a payment is approved, payments are processed in batches at 10AM and 5PM EST each day.
Are there minimum transaction thresholds?
To redeem points with BitPay, you may complete exchanges with a minimum threshold as low as $5.10. This is equivalent to 5,100 Lootup reward points.
What is my expected payment amount?
When a cryptocurrency redemption is made, the expected amount is based on the exact exchange rate at that time. Rates are subject to change, as the reflected amount may differ from the actual exchange rate at the time which the payment is made. Payments are processed twice each day, therefore the exact amount will be reflected based on the time which payment is actually processed.
Are there any fees associated with cryptocurrency redemptions?
All cryptocurrency transactions will have a 1% transfer fee associated with the transaction.
Thank you for being a valued member of the Lootup rewards community!