People spending DASH at NH retail are getting instant rebates, aka “DASH-Back”. Here’s why and how it works.
UPDATE October 2020: The DASH-Back program is over, but this article will remain online for historical purposes.
One of the biggest challenges that cryptocurrency needs to overcome in the market is the tendency of its adopters to hold and never spend their crypto. It’s called Gresham’s Law, the idea that bad money drives out the good from circulation. That means given two choices of which money to spend, the consumer, understandably, will choose to spend the inferior currency. Here, the inferior form of currency is the government money – the U.S. Dollar – and the better form is cryptocurrency. Since crypto users know there is a chance their crypto could go up in value and we all know the U.S. Dollar is sure to go down in value over time – due to politicians inflating the supply of U.S. Dollars – the smart thing to do in that situation is to spend the dollars and hold the crypto.
This is a difficult situation because the more people who only hold crypto, the less useful of a currency it is! Thankfully, New Hampshire-based merchant payment processor Anypay has come up with a solution to overcome Gresham’s Law and incentivize people to actually spend their cryptocurrency in these still early days of crypto.
What if, when you spent your crypto at local New Hampshire merchants, you instantly received some crypto back into your wallet? No filling out forms. No signing up for a program. No “points”. No waiting weeks or months for the payout. Just an instant rebate, right at the point of purchase – on anything you buy in the store or restaurant.Read More