Swiss-based foreign exchange bank, Dukascopy Bank, launches a reward program as an incentive to both new and existing Mobile Current Account users on its messenger app.
Dukascopy Bank SA, an online Swiss FOREX banking service provider which created the cryptocurrency Dukascoin (DUK+), a first of its kind to be offered by a strictly regulated Swiss Bank under the supervision of the Swiss financial markets regulator FINMA. Dukascopy announced the launch of its reward program, which aims to provide its mobile current account (MCA) users around the globe with an opportunity to earn rewards through referral activities and deposits in its native cryptocurrency.
Reward Program Details
New mobile current account users receive 5 Dukacoins when they sign up on the mobile app, and the signup process is free of charge. Other reward opportunities currently offered by the bank to its MCA clients include:
- Referral program for existing clients: Apart from the 5 Dukacoins being offered upon MCA account creation, both new and existing users can get more DUK+ coins by referring others to the platform. For each new user signing up under an existing user, the former receives 5 extra DUK+ coins. Moreover, if an existing user holds the airdropped 5 DUK+ coins from the referral activity over a 30-day period, they are rewarded with extra DUK+ coins. (T&C applies)
- EUR Reward Paid for Deposits in Dukascoins: The Bank pays 50 euro cents for each Dukascoin deposited for a 1-year term. The EUR Reward will be paid at the beginning of the deposit’s term and will be blocked until the term’s expiration. (T&C applies)
- For example, If a user buys 5000 DUK at the rate of 1.07EUR, and at the end of the deposit term the price rises to 1.50EUR, they receive both the benefit from the risen price (2150EUR) AND 2500EUR on top from Dukascopy (0.50EUR for every coin deposited). If the price stays the same, users will still receive 2500EURfrom Dukascopy on top of their deposit. Even if the price falls to 0.60EUR, users are still in profit by 150EUR.
- Coin Reward Paid on Deposits in Dukascoins: The Bank offers a 5% annual coin reward rate for fixed-term deposits paid out in DUK+ coin. The reward is paid at the beginning of the contract and locked for the duration of the contract. During the first year of the Dukascoin’s lifespan the reward rate will depend on the size of the deposit and can reach up to 100% (T&C applies). More so, the deposits can as well be used as margin for clients with trading accounts.
- Dukascoin Fat Catz Reward Program: The Bank collects commission from all sellers of Dukascoins at the internal marketplace. The collected amount of commission is then distributed among the Fat Catz – clients whose monthly average balance is equal to or larger than 10 000 Dukascoins. In June, for instance, 1365 EUR was distributed between 4 Fat Catz accounts (T&C applies).