Rakuten, an eCommerce giant from Japan, now permits users to change their loyalty points into cryptocurrencies. The Japanese giant will support cryptocurrencies like bitcoin, bitcoin cash and ether. It stated that the move is focused on reducing the entry barriers that come while trading with cryptocurrencies. According to an announcement on Tuesday, this conversion service is being offered by Rakuten Wallet and Rakuten’s cryptocurrency exchange. One “Rakuten Super Point” becomes equal to one yen (~$0.0091) when changed to cryptocurrencies.


About Rakuten Wallet
Rakuten Wallet is a Japanese cryptocurrency exchange, which is registered with the Kanto Local Finance Bureau. Earlier its name was “Everybody’s Bitcoin Inc.,” which was later changed to the current name based on firm's name. It is believed that the move to introduce cryptocurrency-based payments was inspired by the growing popularity of cryptocurrency as a payment option in offline retail, and e-commerce. The eCommerce unit of Rakuten began accepting payments from bitcoin in 2015 when it combined its U.S. website with Bitnet, a bitcoin wallet provider.
About Rakuten’s Announced Service
According to the company, one regular Super Points can be converted, while “Limited Time Points” cannot be converted. Customers are required to exchange at least 100 super points into virtual currencies. Rakuten stated that their crypto payment services would remove any entry barriers in cryptocurrency trading by offering a more natural way to enter the market. To get started, customers need to register an account with its Wallet and then with the help of the exchange’s app; they can change loyalty points to cryptocurrencies.
The Service Has Some Restrictions
There are restrictions on the quantity of Rakuten Super Points which can be exchanged per month and per transaction. In one transaction, members from the “diamond” category can exchange at most 50,000 points, while members from other categories can only exchange 30,000 points. Also in a month, Diamond members can transfer a maximum of 500,000 points, while others can exchange 100,000 points.

source>>Rakuten Permits Users To Change loyalty Points To BTC, BCH And ETH