"GoSats, a bitcoin incentives network, has raised funds."
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“It's fascinating that a significant number of our user base never held bitcoin before they signed up with GoSats, and we are happy to facilitate their journey into the world of crypto-assets in a risk-free manner,” Roshan, a veteran of India's crypto ecosystem and the former Chief Scientist of Unocoin, said of the development. Our goal with this investment is to increase adoption.
Gosats is a low-friction means for users to accrue fractions of bitcoin when they shop from over 120 brands featured on the site, including Flipkart, Amazon, Swiggy, Big Basket, and Myntra. It was launched in February 2021 by Mohammed Roshan and Roshni Aslam. Over 15,000 consumers have been onboarded by the Bengaluru-based firm since its debut.
Many people are hesitant to buy bitcoin directly for a variety of reasons, so GoSats provides an alternative way for them to accumulate bitcoin while doing their regular shopping.
GoSats users can shop at supported businesses using the GoSats mobile app for Android and iOS phones, as well as the GoSats chrome extension. They can also buy vouchers for any of the mentioned brands using UPI or credit/debit cards in varying amounts.
Following a successful payment, a fraction of bitcoin is paid to the user's GoSats bitcoin wallet as a cashback of up to 20% (depending on the brand).
“GoSats is the gateway for a billion people in India to own bitcoin. At a time when inflation is destroying wealth around the world, bitcoin protects the wealth of people and allows them greater freedom and ownership over their future. That’s a great thing, and I’m honoured to be an investor in a company that can benefit so many people.” says Trevor Owens, Managing Partner, Stacks Accelerator.
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