FinTech News
Burger King Partners with Robinhood for Crypto Promotion
There’s no question that the past few years have seen cryptocurrencies growing increasingly mainstream. While trading these digital assets was once a challenging and technically advanced experience, now there are plenty of easy-to-use options. Speaking to that reality, iconic fast-food chain Burger King has announced a partnership with Robinhood that will allow customers to win crypto assets with their food orders.
For a limited time, when Burger King Royal Perks members make purchases of $5 or more, they can have a chance to win cryptocurrency prizes. This includes a total of 2 million Dogecoins, 200 Ethers, and 20 Bitcoins. Odds of winning a Dogecoin (currently worth around 27¢) are 1:1 while Ether prize odds are 1:10,001 and Bitcoin rewards odds are 1:100,011. Unfortunately, this offer is not valid in Hawaii, Alaska, Nevada, or where prohibited. Additionally, only those 18 years or older in most states are eligible to participate, while those in Alabama and Nebraska must be at least 19 years old.
To take advantage of this offer, Royal Perks customers can log into their account place their orders in the Burger King app or at BK.com. Alternatively, in-store customers can use the BK app to select “My Code” and present the six-digit number to the cashier. After a qualifying purchase is made, guests will receive an email with a prize code and directions for how to redeem their crypto in the Robinhood app. Currently, crypto prizes can be won on purchases made through November 21st and all awarded prizes need to be claimed by December 17th.
This particular promotion not only comes as interest in crypto is soaring but also as Robinhood is set to double down on the digital currency aspect of its business. Recently, the app announced that it would be rolling out the much-requested crypto wallets feature in the near future, with hundreds of thousands of users joining a waitlist for the product. Meanwhile, rival trading app Public has begun rolling out the ability to buy and sell crypto on its platform, although wallets are not currently available on that service. As for the crypto market in general, Ethereum managed to hit a new record high this week, breaking past the $4,700 mark while Bitcoin also neared a new high before slumping slightly.
Overall, this Burger King-Robinhood partnership shows just how big cryptocurrencies have become. It also highlights once again how Robinhood is really emphasizing crypto as it looks to maximize revenue after going public. As for BK, the promotion is a fun idea that will likely bring new (and likely younger) users to its app and loyalty program. If successful, hopefully a similar offer could pop back up in the future.
