Tuesday, November 30, 2021

Burger King partners with Robinhood Crypto to give away cryptocurrencies.

The Takeaway:

Fast-food chain Burger King is partnering with trading platform Robinhood Crypto to give away a 2 million on Dogecoins.

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According to a press release, fast-food chain Burger King is partnering with Robinhood Crypto to give away a range of cryptocurrencies. The rewards on offer are 20 bitcoin, around $1.17 million, 200 ether $800,000, and 2 million Dogecoin ($472,000). The odds of winning a bitcoin prize, according to the release, are 100,011 to 1. Earlier, Robinhood reported a 35 percent yearly surge in its revenue.

 

The cryptocurrencies will be given away to Burger King’s Royal Perks members.

The cryptocurrencies will be given away to Burger King’s Royal Perks members, a loyalty program where members earn “crowns” for every dollar they spend on fast food items. The crowns can be redeemed for more fast food items. Members that make a purchase of $5 or more on the Burger King app will receive a prize code via email. They can then check and claim the prize through the Robinhood app. Burger King has a history of embracing cryptocurrencies. Earlier, Burger King outlets in the inflation-hit nation of Venezuela announced a partnership with Cryptobuyer to accept cryptocurrencies as a mode of payment. 

 

Robinhood saw increased revenues from dogecoin trading this year.

Robinhood Crypto is the crypto arm of the popular trading app that saw soaring revenues from dogecoin trading earlier this year. That level of trading did not last, though, as Robinhood reported yesterday lower crypto trading activity for Q3 compared to the previous quarter. Revenue from crypto trading came in at $51 million, compared to last year’s merely $5 million. Burger King has previously used cryptocurrency to help sell burgers. Outlets in Germany and Venezuela have, at times, accepted cryptocurrency as payment. In Russia, Burger King even launched its own cryptocurrency — aptly named “WhopperCoin.” 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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