Fighting Inflation – Blockchain Bank Can Increase Your Buying Power Through Its Gift Card Ecosystem
Blockchain Bank is a haven for combating inflation and protecting your wealth. With so much fiscal stimulus being injected into the economy in reaction to the coronavirus, the dollar has been losing value whereas the value of bitcoin has skyrocketed. New financial instruments within the cryptocurrency space are also being developed at a rapid pace to further the growth of investment opportunities.
The traditional methods of savings where funds are deposited into a bank account to earn a yearly interest rate are no longer attractive. Banking with a traditional institution
takes you away from the opportunity to earn high yields as promoted commercial products like the CD are locking up your funds and causing you to lose out due to inflation.
Fighting Inflation with Blockchain Bank
Blockchain Bank is a borderless alternative to our established banking system. With high compoundable interest rates offered for all your assets, your money will now work for you instead of the other way around. With a diverse gift card ecosystem built-in,Blockchain Bank has implemented a platform where you can store, earn, and evenspend your digital assets all in one go. Decide what you want to purchase, choose your vendor, and Blockchain Bank will provide bonus gift cards alongside exclusive cashback in the form of Chimpion Tokens (BNANA).
Large retailers have different ways to provide savings such as discounted promotional gift cards, seasonal coupon codes, and even cashback offers. Sometimes these offers could even stack up on top of one another and provide a hefty amount of savings. Now imagine an extra layer of savings earned through additional bonuses and allotted rewards provided by the vendor. This is where the Blockchain Bank’s gift card
marketplace comes in.
Through our network of P2P OTC trade with Fintech partners who utilize cross – continental arbitrage, expertise with international remittances, high staking payouts on our stablecoin reserves, and eCommerce partnerships, we can offer bonuses on all your gift card purchases to assist you in all your consumer needs.
Consider the following situation:
- Johnny purchases 5x Litecoin (LTC) at $45 each through Blockchain Bank
totaling $225 via Credit Card
- Johnny earns 2% cashback on his purchase via his credit card company
- Johnny earns Chimpion Tokens (BNANA) for all purchases made through Blockchain Bank – reimbursing the transaction fee for the purchase
- Litecoin (LTC) rose to $60 – increasing Johnny’s purchasing power by 20%
- Total LTC Value: $300
- Johnny thinks Litecoin (LTC) might go down in the short term but he does not
want to sell so with his 5 LTC, Johnny purchases $300 worth of Amazon Gift
Cards via Blockchain Bank’s gift card marketplace
- Blockchain Bank was able to acquire Amazon Gift Cards at a discount so Johnny was rewarded with 3x $10 bonuses gift cards totaling $30
- Johnny did not have to incur transaction fees from his local exchange for selling his LTC for profit
- Johnny will not be reporting capital gains tax for selling his LTC as he had used it to purchase Amazon Gift Cards instead
- Johnny purchases a $300 Google Chromebook on Amazon with his gift card
balance after redeeming his gift cards.
- Johnny uses the bonus $30 Gift Card that was made available to him to pay for the sales tax
- Johnny gives the sales receipt to his business account so that the Chromebook can be written off as a business expense for his business S- Corp
In just a single month during the summer of 2020, a 30% run-up on Litecoin has afforded
the above situation to be possible and has significantly increased Johnny’s purchasing
power. However, timing the market can be hard and what if the digital asset you have
just purchased suddenly declined by 5%? Rest assured, Blockchain Bank strives to
serve its clients by mitigating your losses. [For trading alerts and trading tips, we have also partnered with MoonCatcher for your investing convenience]
Leveraging Chimpion’s Network and Experience – Mitigating Downturns
Through our team’s network of partnerships and eCommerce background, our platform
would be able to provide popular gift cards with a 10% bonus so that potential losses
incurred through a volatile session of trading can be mitigated. In the case of a dramatic
drawdown, we have plans to implement even higher percentage bonuses to protect you
from the downside volatility of crypto investing. This way, you can always treat our gift
card marketplace like a stablecoin that is valued above 1 USD. For example, if you
purchased $100 worth of Litecoin via Blockchain Bank and got it insured through our
volatility protection program, your purchasing power will be protected. If Litecoin drops
by 5%, you will still be able to purchase $100 worth of Amazon Gift Cards.
How Does the Chimpion (BNANA) token power Blockchain Bank?
Blockchain Bank would not be what it is without a blockchain. Through crypto and smart contracts, we can onboard citizens from developing nations that lack access to standard
financial intermediaries. Chimpion powers the network and the Chimpion Token (BNANA) is programmed to be distributed as rewards.
Bitcoin runs on the Proof of Work (POW) concept through mining, and Chimpion runs on the Proof of Stake (POS) concept where users that stake Chimpion help propel the ecosystem. Holding and staking Chimpion will generate rewards and provide additional perks. BNANA will also provide bonus gift cards on purchases that are made via USDC or any other stablecoins. We will be announcing the details of our upcoming tier-based reward system in the next beta phase, so stay tuned and follow us on our social media pages for more updates!