How do I get it?
Bitcoin is only available to redeem today via the Android Perk Wallet app which can be found on the Google Play Store.
iPhone users will be able to redeem for Bitcoin in the iOS Perk Wallet app very soon.
When is Bitcoin issued?
You can redeem your Perk Points for Bitcoin any time you want but redemptions are processed on only one day a week (Fridays)
To receive Bitcoin on Friday, you must redeem by 11:59pm CST on Monday of that week. We know this delay is a bummer, but this is due to the delay it takes for Perk to receive Bitcoin in our account after we order it.
Where do I receive it?
Your Bitcoin will be sent to your email address submitted at time of redemption. If your email address is already mapped to your Coinbase account, it will be there waiting for you. If you do not have a Coinbase account yet, sign up with the email used for redemption and your Bitcoin will be waiting for you after you open a Coinbase account with the same e-mail address
To accommodate Bitcoin pricing fluctuations, Perk has established a formula that will apply to all Bitcoin redemptions:
1. If the Coinbase price for Bitcoin increases between the time you request a redemption and the actual time the redemption is transferred to your Coinbase account, you will receive the amount of Bitcoin equivalent to the USD dollar value of the requested Bitcoin amount at the time you requested your redemption.
Perk Member requests redemption of 1 Bitcoin (current value of $500 USD). Then, at the actual time of transfer to member's Coinbase account, the price of Bitcoin had risen to $1,000 USD. The member would receive a redemption of .5 Bitcoin from Perk, (equivalent to the $500 value at time of redemption request).
2. If the Coinbase price for Bitcoin decreases between the time you request a redemption and the actual time the redemption is transferred, you will receive the amount of Bitcoin equivalent to the quantity of Bitcoin initially requested.
Perk Member requests redemption of 1 Bitcoin (valued on Coinbase at $500 USD). Then, at the actual time of transfer, the price of 1 Bitcoin had decreased to $400 USD. The member would receive a redemption of 1 Bitcoin from Perk, (equal to the 1 Bitcoin redemption request).
Check Current BTC Price at https://coinbase.com/charts