Canadian finance provider Mogo Inc. is extending its Bitcoin rewards program to allow homeowners to earn free BTC.
As well as its already running Mogo Visa Platinum Prepaid Card, the company announced yesterday it would start offering its customers another way to earn free Bitcoin, through its Mogomortgage product.
The Nasdaq-listed fintech firm say its mortgage platform will offer borrowers up to $3,100 in Bitcoin if they take on a new mortgage or refinance and existing loan.
The news comes just a day after Bitcoin Maximalist reported on Lolli’s plans to expand a similar Bitcoin rewards program in which shoppers earn free BTC for spending at Lolli partners.
Earn Free BTC With Mogo’s Bitcoin Rewards Program
Vanvouver-based Mogo is looking to drive Bitcoin adoption by offering its members an incentive to refinance their loans and earn free BTC in the process.
According to the announcement, ‘Under the program, Mogo members who take out a new mortgage or refinance with Mogo can earn up to $3,100 cashback deposited in their Bitcoin and Rewards account.’
Mogo’s founder and CEO David Feller said, ‘As an independent mortgage brokerage, our goal has always been to help members get the best rate and the right mortgage, and now our new Bitcoin rewards program will reward them with up to $3,100 in Bitcoin.’
A Leader In Bitcoin Products
As already stated, its Mogo’s second offering for its customers to earn free BTC. The company launched a prepaid Bitcoin rewards Visa card, and its clear the Mogo CEO is keen to help drive Bitcoin adoption.
‘Our Bitcoin rewards program is all about giving our members more ways to accumulate Bitcoin,’ explained Feller. ‘It’s clear that we’re still in the beginning stages of seeing consumers add Bitcoin to their financial portfolios, just as we’re seeing corporations add it to their balance sheets.’
The Mogo CEO cautioned about Bitcoin volatility and claimed the company’s rewards program was a way for Canadians to earn free BTC without risking their own money.
‘Given the volatility and speculative nature of Bitcoin, there’s an increasing number of Canadians who are looking for ways to participate without risking their own money, and our Bitcoin rewards program meets this demand.’
Mogo’s Bitcoin Involvement
Mogo created a Blockchain-based subsidiary in January 2018, Mogo Blockchain Technology and announced plans to form a partnership with DMG Blockchain Solutions to enter the Bitcoin mining industry, but there has been little to no news on that front.
The company’s wholly owned subsidiary Carta Worldwide could be another way for the fintech firm to develop its Bitcoin play.
Carta Worldwide offers a digital payments platform that powers the card programs from innovative fintech companies in Europe and North America. And although there is no mention of any roll into Bitcoin adoption there, it seems unlikely that a Bitcoin-friendly fintech firm wouldn’t be looking at ways to integrate it into Bitcoin infrastructure.
However, it’s clearly not all talk from the publicly-listed Canadian fintech firm. As well as the prepaid card and Bitcoin rewards offerings, the company has taken a lead from MicroStrategy and put some of its balance sheet into Bitcoin.
Mogo Inc Offers A Unique Way For Canadian Homeowners To Earn Free BTC
Mogo Inc is making further strides into the Bitcoin space and its customers now have two ways to earn free BTC.
As well as receiving Bitcoin back for shopping with the company’s prepaid Visa card, homeowners wanting to refinance now have an incentive to do so.
Mogo is a relatively small company, but with the Canadian real estate market believed to be worth around $1.8 trillion, it could help drive Bitcoin adoption in Canada.
Not that Canada needs any incentive with three Bitcoin ETFs already on the market, but it’s still a great way to introduce nocoiners to Bitcoin.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.
