Coincheck Crypto Exchange Launches A Gas Bitcoin Payment

Tokyo-based Coincheck crypto exchange launches a new program that will allow its users to pay for gas using Bitcoin as we are about to read further in the latest bitcoin news below.

The Japanese crypto trading giant announced its plan in a press release statement that was issued on Friday, October 4, 2019. The program came as a result of the partnership between the Coincheck crypto exchange and a couple of gas companies in Tokyo. Named as the ‘’Coincheck Gas’’ the users of the platform will be able to pay their domestic gas bills in Bitcoin. According to the press release, the bitcoin payments for gas under the program will impose a 3 percent discount. The company says that it will gift the users 3 percent of their monthly gas bills in Bitcoin which will be sent to their Coincheck wallet. Coincheck gas is a follow up to the Coincheck electricity which the company launched in 2016.

These services as a part of the efforts by the Monex group which is the parent company of Coincheck aiming to boost mainstream BTC adoption. The company also has other programs in mind that will allow the customers to swap the loyalty points for cryptocurrencies such as Bitcoin.
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Monex also extended the bitcoin utilization drive to the shareholders. As it was previously reported in the latest cryptocurrency news, the company says it will award Bitcoin to its shareholders who have more than 100 shares and a Coincheck wallet. The reason why the Coincheck crypto exchange launches another bitcoin payment option is because of the goal to increase the bitcoin adotpion.

Monex acquired Coincheck back in 2017 when the exchange suffered a major crypto hack. The hacks of the platform lead to a loss of more than $500 million in NEM tokens. The crypto exchange will now rollout the new bitcoin rewards program as the crypto rebates begin gaining popularity. Back in July, the browser extension service inked a deal with Hotels.com which will also offer valuable BTC rebates to the customers. The crypto rebates likely form an avenue to encourage massive cryptocurrency adoption and this method arguably provide much bigger penetration for virtual currencies in the mainstream. The expectation is the new Bitcoin owners which will emerge from the crypto rebate promos will spend their earnings and will create bigger utility for digital currencies.