The rewards membership program is divided into five plans — Diamond, Platinum, Gold, Silver, and Bronze, depending upon the number of SG tokens the user owns and how much the user has spent through the app for the past 2 months.SocialGood announced on 21 February 2022 that they now offer US worth of SG for each new referral made by sharing their invitation code through the SocialGood App. New users who sign up for the SocialGood App will also receive US worth of SocialGood.
MEMBERSHIP PROGRAM OVERVIEW
As shown on the graph below, the more a user shops via the SocialGood App and the more SG you hold, the higher their reach status will become. This in turn will allow them to receive even more staking rewards.
The horizontal axis (Purchase) is the cumulative total of your purchase amount for the past 2 months. Your membership rank is determined by these two axes.
For more information on the SocialGood referral program, follow this link.
Their membership ranks are determined by the amount of SG held and the cumulative total of the purchase amount for the past two months – therefore, the amount of staking rewards received will depend on the users’ membership rank.
In order to begin staking, users will need to earn SG through shopping in the SocialGood App, available on iOS and Android, or buy SG on an affiliated exchange like Bittrex Global or Bitmart and connect a supported wallet with the SG to the SocialGood App (linked above). The apps currently supported are WalletConnect , MetaMask, and CoinBase. WalletConnect can also be used to connect to other wallets such as Trust Wallet.
As of the 28th of February 2022, MEXC will List SocialGood (SG) and Launch the “MX DeFi ” Session. MEXC also stated that the SocialGood team will host MX Defy Yield Mining activity exclusively for MEXC users. There will be a total of 30,000 SG there for the taking.For a limited time, Platinum Rank users will also be able to receive 15% Staking Rewards.
The maximum reward for staking over 5000 SG tokens or spending more than US0,000 in the past two months is 15% and the minimum reward for staking less than 50 SG tokens and spending less than US,200 in the past two months is 1%. The rewards are recalculated every six hours to ensure the user receives a fair amount of rewards.
The SocialGood Team have launched a staking rewards membership program where users receive staking rewards for SG (The SocialGood Cryptocurrency token), held inside of the SocialGood App and their wallet. SocialGood offers their users a membership program with rewards of up to 15% APY on SocialGood.TheBitcoinNews.com – Bitcoin News source since June 2011 –
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- After installing, follow the instructions in the app and create the wallet. (If users have a recovery phrase, select “Import Using Secret Recover Phrase” for MetaMask or “I already have a wallet” for Trust Waller or CoinBase so that they can also use the wallet inside of them)
- Send the SG bought on an exchange to the wallet.
Download the wallet from the Google Play Store or the App Store. (If you are storing your SG somewhere else like Trust Wallet or Coinbase Wallet make sure you have made a note of your recovery phrase in advance*. *Never share this phrase with anyone)
To create a MEXC account, click this link.
- *Make sure to hit the “Submit” button at the end.
*As the Blockchain is not being used this will not incur any fees.
*Users can connect one wallet per account. Also, once a wallet is connected to an account it cannot be connected to a different account. To remove the connection, you will need to disconnect your wallet.
*If the SG from the connected wallet is transferred to a different wallet, the amount of transferred SG will be excluded from the Total Staked SG of the next Staking Reward calculation.
HOW TO BEGIN STAKINGOpen the SocialGood App. (if users are using WalletConnect make sure to fully close the app first)
Go to Assets Screen -> Staking Rewards -> Connect My Wallet -> and select your wallet.
Note: The vertical axis (Staked) is the amount of SG you hold (the total of your SG in the app and inside of your wallet connected to the app)Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
The SocialGood App is available on iOS and Android. You can trade SocialGood (SG) on BittrexGlobal and Bittmart.
CONNECT THEIR WALLET TO THE SOCIALGOOD APP
Staking is an excellent way to earn digital tokens without investing directly. Users shop on the retail section and make payment directly to the Fiat gateways and earn crypto returns without any additional effort. SG tokens do have a supply cap, and as the number of holders continues to increase, the token price can also rise. The staking rewards membership program is a fantastic way to boost token ownership and earn more rewards effortlessly.
SG LISTED ON MEXC
For more information on the SocialGood listing on MEXC, follow this link.
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