Dukascopy Bank, a Swiss-based foreign exchange bank, has announced the launch of its reward program for new and existing clients who hold its Mobile Current Account on its messenger app.
The FINMA-regulated online FOREX banking service provider in charge of Dukacoin (DUK+) has kick-started its reward program which is focused on enabling its mobile current account holders in various parts of the world to earn rewards when they refer other users or make deposits in its native crypto.
Reward Program Information
According to the team, all new mobile current account holders will get 5 Dukacoins when they sign up on the mobile app, free of charge.
That’s not all, both new and existing MCA account users will also receive 5 DUK+ coins each time a new user signs up on the platform through their referral link.
Also, if an existing holds the 5 DUK+ received as a reward for referring others for up to 30 days, they will get extra DUK+ coins.
Interestingly, the innovative bank pays users 50 euro cents for each DUK+ held in their account for up to a year. However, the 50 euro cents will be paid at the beginning of the deposit’s term and the account holder will not be able to withdraw it until the term expires (1 year).
For instance, if a user purchases 5000 DUK at the rate of 1.07EUR and at the end of the deposit term, the price surges to 1.50EUR, they are entitled to get the benefit from the risen price (2150EUR) and 2500EUR on top of their deposit from Dukascopy.
On the other hand, even if the price crashes to 0.60EUR, users will still have a profit of 150EUR.
Coin Rewards on Deposits
The Bank’s fixed-term deposits come with a 5 percent annual interest in the form of DUK+ coin rewards.
In the first year of the contract, the reward rate will depend on the size of the deposit and can potentially reach up to 100 percent.
Clients with trading accounts can also use the deposits for margin trading.
Fat Catz Rewards
Dukascopy Bank charges a certain commission from all sellers of its altcoin at the internal marketplace.
The commission is then distributed to users that have a monthly average balance of equal to or larger than 10,000 DUK+ (Fat Catz).
Earlier in June 2019, the bank distributed 1,365 EUR to 4 Fat Catz accounts.