Minter training
June 17, 2020


CASHBACK (cash back) - a term that is used in the areas of online trading and banking as a bonus program to attract customers and increase their loyalty. Minter also encounters this term among projects created on the blockchain, where one or another product can be purchased with a BIP coin or a custom project coin.

On the Minter blockchain, competitor projects have been created that attract users by offering cashback for a particular purchase using their service. The most common cashback is a custom project coin.

For instance:

You decided to book a hotel through a certain service using a BIP coin when paying. In this service, to get a cashback of 15%, you need to pay in the custom coin of this project. To make a purchase on the proposed conditions, the buyer needs to convert a certain number of BIP coins into a custom coin of the project. Then make the payment.

Cashback can also be found in offers from validators. There are projects that are in partnership with nodes.

For instance:

Validator Minter Capital, is a partner node of the Minter Millor project. The validator commission is 6%, but for delegators of the MILLOR coin, the service fee is 1%, and 5% is returned daily in the form of cashback to your wallet.

Each validator has its own conditions of encouragement, as well as commission for delegation. Before delegating your funds to a node of your choice, first study its strength, rating, commission percentage and an important point, block omissions. You can read about this in previous posts.

Cashback is not only a term whose history begins in the USA, but also a great opportunity to save your money.