Online survey giant Qualtrics has added bitcoin as a rewards option for consumers who respond to surveys and research requests issued by its enterprise clients.
The Utah company, which is valued north of $1bnfollowing a $150m Series B in 2014, boasts more than 700 employees and investors including Sequoia Capital and Accel Partners. The offering was made possible by bitcoin payments processor SnapCard‘s recent integration with digital rewards platform Tango Card.
Consumers who want to access the platform to obtain rewards points must first sign up to the service to begin taking surveys. Once Qualtrics users earn 50 points for their participation, they receive a Tango Card gift code, which can then be redeemed for Amazon and Target gift cards as well as bitcoin.
Qualtrics head of strategy and research Mike Maughan indicated that by offering bitcoin as a rewards option, he believes the company’s clients will be more easily able to reach the increasingly important millennial demographic.
Maughan told Coingreed:
“Millennials are most familiar with and most likely to be part of the bitcoin movement. A lot of millennials are more on the cutting edge of bitcoin, and those are among the people that are most sought after for their insights right now.”
Maughan went on to explain that Qualtrics saw little downside in adding the digital currency as a rewards option given that consumers have a choice of whether to redeem points for bitcoin.
“It’s not a compulsion,” Maughan said. “If they have any concern about bitcoin, they can then cash out for gift cards.”
With the decision, Qualtrics has become the latest company to offer bitcoin rewards through Tango Card, following last week’s announcement by Microsoft’s search engine product Bing.