Nickelcoin NKL found online at nickelcoin.co is a new evolutional cryptocurrency which focuses on a solution for customer loyalty programs and digital gift card.
Nickelcoin takes a position between customers and merchants, transforming discount coupons, loyalty points, and shopping vouchers into liquid, tradable Digital tokens by incorporation of the following utilities; payment gateway, global customer loyalty services and marketplace. Just like other decentralized online currencies, it uses blockchain to maintain transaction records.
Nickelcoin intends to solve the problem of, illiquid and inflexibility of discount coupons and loyalty points, lack of data to target consumer group by demographic spending preference or geolocation and increase customers acquisition reducing liabilities of unused points. Blockchain technology will be used for advancement and production of Nickelcoin token, which will be used as the unit of exchange for any service thereby creating an ecosystem with brands, merchants, consumer and service providers.
How Does Nickelcoin Work?
The retailers connect to the Nickelcoin loyalty system by installing the ready-made GIFTD extension or by integrating it with their own loyalty system.
This idea rewards customers with NKL for their buying activities or purchases as well as other actions. The module performs all the required token processing through the Nickelcoin platform.
The market value of Nickelcoin may appreciate because of the limited initial issuance of just 12million Nickelcoin tokens and the constant leading demand for tokens from the growing number of retailers joining the platform.
The constant appreciation of NKL encourages customers to save their tokens instead of redeeming them for purchases, it also reduces the amount of free-floating tokens.
How do Customers Earn NKL?
The following image illustrates the simple steps users will need to take in order to earn Nickelcoin Tokens by completing their purchase at the any Nickelcoin Network’s member merchant.
A customer makes a purchase in an online store, which is connected to the Nickelcoin module and sees the reward they can earn for every item they buy in the store.
They register through a social network, email or phone.
The customer sees confirmation of their NKL reward after the completion of their order.
They also have easy access to their wallet on the online store’s website.
Each customer registered in the loyalty system of the Nickelcoin Network on the retailer’s website automatically receives a crypto-wallet with the unique Ethereum-address.
This can be used for the receiving and sending of Ether and any other ERC20 tokens, and to serve as payment for goods or services of this or any other retailer in the Nickelcoin Network.
If needed, tokens can be sent to any Ethereum compatible wallet.
A confirmation message regarding the successful transfer of NKL is shown on the screen and sent to the user’s email if provided.
How can I redeem NKL reward?
Nickelcoin Tokens are also easy to redeem. A customer will just need to mark how many NKL he or she wants to spend on the purchase, and the order amount will be reduced depending on the current market rate of NKL. A special smart contract will be introduced which will serve as a middleware between the shop and customer in this scenario.
It will hold the customer’s NKL until a full fiat currency payment is received, then it will transfer NKL to the shop. If the full payment is not received within the certain time period, it will transfer NKL back to the customer and notify the shop about this event.
If the customer wants to top up NKL at his Nickelcoin Network, he can transfer Ether or any ERC-20 tokens from his Ethereum wallet to his Nickelcoin Wallet and then use Liquidity smart contract to convert Ether or tokens to NKL
Steps to redeem NKL Reward Tokens for purchases:
The wallet with NKL is seamlessly integrated into the merchant’s online store, and customers can choose what amount of NKL they want to redeem for their purchases.
The wallet is easily accessible from any merchant’s website.
Nickelcoin Token Details
Token Name: Nickelcoin
Total Supply = 40000000 NKL
Soft Cap = 1300000 NKL
Hard Cap = 12000000 NKL
They offer both referral and purchase bonus. You will earn 10% (Pre-sale) of your total purchase. You will also earn 5% of the total token purchased by the person you referred.
How to Participate in NIickelcoin Token sale
You must first register and do your KYC verification to be eligible to buy tokens.
Visit https://nickelcoin.co to start the process