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Chinese e-commerce giant alibaba offers free Bitcoin to US buyers



Yes, you have read it correctly. The company that refused to let its Chinese users buy bitcoin with Alipay has now teamed up with a New York-based BTC app to offer it for free on & # 39; Singles Day & # 39 ;.


Get Free Bitcoin on Singles Day

As part of an effort to motivate customers to China's & # 39; Singles Day & # 39; Yesterday, e-commerce giant Alibaba has partnered with the bitcoin shopping app, Lolli. The unofficial holiday that falls on November 1

1 is the Chinese equivalent of America's Black Friday.

According to a company blog post, Lolli users could earn 5% in bitcoin when trading with partner Alibaba. The day is massively popular in China where the growing younger generation and nouveau riche want to splash the cash to celebrate their solo status.

Lolli's partnership with Alibaba, which recently warned against cryptocurrency payments in China, will allow US-based users to buy on the Chinese platform to earn a cut in BTC. CEO and co-founder of Lolli, Alex Adelman, stated;

"I am excited to partner with Alibaba on Singles Day and offer the opportunity to earn bitcoin back to customers. This is a milestone partnership for Lolli as Alibaba is the largest reseller and e-commerce company in the world, launching on Single & # 39; s Day, the world's largest shopping day of the year. "

The app works through a browser extension that notifies users as they browse a partner's online store. , Hilton, GAP, and Hotels.com.

The official website claims they are on a mission to spread bitcoin to billions of people around the world. The world with the click of a button. & # 39;

Records Smashed in Shopping Frenzy

It's clear that Chinese and US-based platforms are trying to take advantage of one of the biggest shopping days of the year, according to CNBC, Alibaba broke the Singles Day record by more than $ 38 billion in sales n yesterday.

At the end of the 24-hour event, gross trade value stood at 268.4 billion yuan, just under a 26% increase from the figure posted last year. Alibaba offered huge discounts at its global outlets, but naturally, buyers in China were not eligible to earn any bitcoin, even though state media has been trying to educate them to it.

Apple and Huawei smartphones were some of the top selling items that online personalities took to the stage to showcase their brands. There was a concern in China that the feeling for American brands may have declined after the ongoing trade war, but this was clearly not the case.

Perhaps free bitcoin for Chinese users would have resulted in an even bigger profit margin for Alibaba. [19659004] Did you go shopping on Singles Day? Add your comments below.


Image via Shutterstock


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