Seasoned travelers have become accustomed to scouring the internet for the best travel deals. To help find these deals, websites and credit cards that give travel points or cashback on bookings remain prevalent, especially with the rising costs of flights and hotel bookings.
Still, many of these sites and rewards programs are limited in the value they offer users. This is why RewardsBunny, a rewards site and mobile app launched in 2021, does travelers better by offering cryptocurrency as a cashback reward. By integrating the potential to receive cryptocurrency in its rewards program, RewardsBunny and its executive team aim to show other CEOs how they can provide more value to the users of their own rewards programs.
The New Way to Reward Shoppers
RewardsBunny is a platform where consumers can earn, spend, and invest in crypto. When travelers spend on the site with partner companies, such as Booking.com or Allianz Travel, they can earn up to 20% cashback in cryptocurrency if they so choose.
What sets RewardsBunny apart is its investment angle. The cashback that shoppers receive multiplies when the value of the cryptocurrency offered as rewards appreciates. Unlike other crypto sites with a “play-to-earn” platform, users of RewardsBunny can earn crypto rewards and invest in crypto just by doing what over 2 billion people do every day — shopping online.
RewardsBunny co-founder and CEO Jacky Goh did not initially set out to become an innovator in the crypto space. Initially involved in game development and cashback apps for gamers, Goh waded into the crypto waters as an amateurer trader in 2017.
“I was first involved in blockchain when I started trading crypto back in 2017 as a hobby. I was then beginning to understand the market as a whole,” Goh told Medium.
Venturing further into the decentralized finance world, Goh found that his lack of experience, the presence of scam artists, as well as less-credible projects led to lost money. He decided to start a community on the Telegram platform to discuss new crypto token launches, share his burgeoning experience, and gain wisdom from others.
“As I got invested more and more into crypto, I realized that it is challenging to spend and earn crypto due to specific regulations and restrictions around the world,” Goh explains. “This inspired me to tackle these challenges to help those around me. Eventually, it led me to start Rewards Bunny, which helps other users earn and spend crypto easily.”
Goh and his co-founder Ivaylo Yovkov kicked off the platform during the Summer of 2021, and recently launched the RewardsBunny mobile app.
While the RewardsBunny app offers cashback with over a thousand different retailers and service providers, their partnerships with travel companies could draw the most significant positive response. RewardsBunny has chosen partnerships with several travel booking companies to allow consumers to get cashback rewards every time they book a flight or hotel room. Some partner sites, such as Booking Buddy UK, give travelers up to 20% cashback on purchases.
“When you have a strong network of companies working together and supporting each other, you will definitely go far,” Goh explains. “It’s that old proverb: if you want to go fast, go alone; if you want to go far, go together.”
The decentralized nature of cryptocurrency eliminates the middle man, allowing transactions to occur more efficiently. RewardsBunny can process the cashback rewards within seconds through blockchain technology. This technology has remedied one of the biggest drawbacks of travel-centric credit cards with cashback promises. People who use a traditional travel rewards credit card often have to wait to access their funds or travel points. When someone travels frequently, this waiting period can be a headache.
Innovation and Education
Goh strongly feels that vital financial education will bring “goodness to the world.”
“People have been missing out on the free money they could earn from cashback rewards,” he explains. “Furthermore, they have been missing out on cashback via crypto, which can exponentially grow in value.”
Because many are not educated on what crypto is or how to get involved in crypto trading, they may be hesitant to give a platform such as RewardsBunny a try. Goh feels the same as when he set out to begin his crypto-centered Telegram community. Education can change minds and, eventually, the world.
With travel starting to bounce back from the trying times we have experienced in the last two years, many will be seeking ways to save money on business and pleasure travel. Several factors are driving up the cost of travel. According to an April 2022 article in the Washington Post, record-high fuel prices, rental car shortages, and inflation are causing major sticker shock for travelers. Now may be the best time to try a new cashback and investment option before booking your next vacation.
The crypto community excites Goh, and he sees great opportunities for people through platforms like RewardsBunny. He anticipates a stronger community and more innovation in the near future.
“With the introduction of blockchain, innovations in the world have been moving at light speed,” Goh mentions.
Continued innovations — such as the marriage of crypto investing and travel savings offered by RewardsBunny — contribute greatly to building a global community. With travel opening up worldwide, the stronger community that Goh envisions may soon come to fruition.