Bitcoin Shopping App Lolli Expands, Now In 900 Retail Locations

The online Bitcoin shopping app Lolli has been expanding over the past couple of months. As reports show, the BTC rewards app managed to expand off the web and into 900 retail locations. The head of the company and CEO Alex Adelman announced a brand new partnership with the Albertson’s subsidiary Safeway in an interview with Yahoo! Finance on Thursday.

This expansion of the Bitcoin shopping app Lilli will enable users to order groceries, beauty products or pharmacy items online through Safeway.com for direct pick-up. As the CEO shared in an interview with some of the best cryptocurrency news sites:

“We saw a demand from users to earn bitcoin for every day expenses like food and pharmacy.”

On top of this, the users of the Bitcoin shopping app will still earn a 3% to 5% return in Bitcoin through their online purchases, which Adelman sees as a “rail to get Bitcoin to the masses.” According to the company accounting, nearly 40% of the Lolli users are new to cryptocurrencies.

For those of you who haven’t been following our coming altcoin news and Bitcoin updates on Lolli, the Bitcoin shopping app has partnered with 750 online merchants before this – including names such as Walmart, Macys and Priceline. Adelman’s previous company Cosmic was acquired by eCommerce firm Ebates. “This way, we know the merchants and understand the business model well,” said the CEO of Lolli.

He also estimated that the average user base for Lolli so far earned around $26 (263,661 satoshis) in Bitcoin. He added that after a purchase, the rewards estimate is calculated within “a few minutes to a few days.” However, he said that it typically takes 30 to 90 days for the rebate to come through as the Bitcoin shopping app Lolli must wait until after the return period closes.

Adelman did not share any of the firm’s revenue projections. However, he said that Lolli gets a percentage of each sale which they then share with their tens of thousands of users. As previously reported on our altcoin news site, Lolli launched in September 2018 as a Bitcoin shopping app backed by $2.35 million and venture capitalist names such as Bain Capital Ventures, Digital Currency Group and others.