GoSats: Bridging the Gap between Bitcoin, Everyday Spending, and Future Financial Literacy
GoSats (https://gosats.io/) is India’s first Bitcoin Rewards Company. The company enables a low-friction way to accumulate Bitcoin when people shop from over 250 brands listed on the platform, including Flipkart, Nykaa, Swiggy, BigBasket, Myntra, etc., Co-founded by Mohammed Roshan Aslam (Co-founder & CEO of GoSats) and Roshni Aslam (Co-founder) in 2021, Mr. Aslam, share more insights on the same.
- What inspired the founders to start GoSats and how has the company’s journey unfolded since its inception?
We discovered Bitcoin in 2014 and have been very passionate about it since. We wanted to provide the most valuable asset of the past decade in a simple manner. This aspiration led to the start of GoSats.
Our minds were set on one thing; to empower individuals by guiding them toward accumulating wealth and passively save and invest without deliberate effort. This itself was incredibly inspiring for us. We initially started with Bitcoin and will be introducing additional valuable asset classes as well in the future.
Moreover, considering our backgrounds, we believe that in the current era, wealth creation and achieving financial literacy, is very essential. Also, knowledge in budgeting, saving, and investing in various asset classes is crucial for building and preserving wealth.
Since our inception, our team has expanded to 20 members. We’ve witnessed remarkable growth, going from our initial thousand users to a user base of 5 lakh. A year ago, we introduced the GoSats card. We have given out more than 25 Bitcoins in total to our shopping users and processed $100M annualised shopping volume. Additionally, we successfully secured funding through a Pre-Series A round last year.
- What are GoSats USP’s and how is it creating a difference in the market? Any specific technology or software that GoSats is exercising to achieve the same?
GoSats is an innovative platform that integrates Bitcoin rewards into everyday spending. We empower users to earn Bitcoin cashback on purchases, providing a unique opportunity for passive savings and wealth creation. It is the simplest on-ramp to Bitcoin. We introduced the first and only Bitcoin rewards card in India to help people earn free Bitcoin every time they shop. It’s the smart way to turn expenses into valuable assets.
- How do you see the Bitcoin market in India? Does the cryptocurrency have any alternative usage?
The Bitcoin and cryptocurrency markets are constantly evolving. A major event known as the halving is happening in April 2024 and historically, it has had a substantial impact on the crypto market. Bitcoin’s primary purpose has always been decentralization, aimed at eliminating single points of failure. Over time, cryptocurrency use cases have expanded from this core concept to include DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), and an increasingly interesting area known as tokenized real-world assets.
- Do you see cryptocurrencies being integrated with AI and other evolving technologies in the future?
The integration of cryptocurrencies with AI (Artificial Intelligence) and other evolving technologies is a highly plausible and promising trend for the future. There definitely are scopes to build applications on AI and crypto together. We at GoSats are also exploring this.
