Is SocialGood Any Good -? (review) SocialGood is an intriguing app that might catch the attention of frequent online shoppers. This app offers the potential to earn cryptocurrency while making purchases, making it particularly appealing to cryptocurrency enthusiasts. However, before diving in, it is essential to ascertain its credibility. Is this a legitimate opportunity or just another online gimmick?
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In this review of SocialGood, I will share valuable insights based on my personal experience with the app. By the end of this review, you will have a comprehensive understanding of how it operates and whether it’s genuinely worth your time. I prioritize honesty in all my reviews, only recommending opportunities that I believe are genuinely worthwhile. So, let’s get started and uncover the truth behind SocialGood!
What is SocialGood App?
SocialGood offers users a unique cashback rewards system, with a twist – instead of traditional currency, you receive payments in cryptocurrency. While this sets it apart from many other cashback apps, it’s crucial to grasp how it operates in detail.
The primary method to earn rewards with the app is straightforward – by shopping and earning cash back.
To get started, you’ll have to download the app and link it to an account, such as Google, among others. Once you’re logged in, a list of stores offering cashback will be accessible to you, allowing you to begin your cashback journey.
In terms of simplicity, the process is quite straightforward.
When using SocialGood, you click on a store and get redirected. Before you start shopping, the app presents the details of the cashback offer. It’s essential to check this information to ensure you’re getting the best rate.
For instance, my screenshot shows that you can earn up to 100% cash back on certain products like Paramount and NordVPN, among others. These are trending options, and there are many more available if you explore stores or browse through categories. However, it’s crucial to note that the 100% cashback you see is a “bonus” you receive upon purchase, not a free product. Typically, you’ll find your cashback to be around 15% in cryptocurrency. SocialGood’s advantage lies in its partnership with over 1800 online platforms globally, offering you a wide range of shopping options. The exact number of accessible platforms may vary based on your geographical location.
Here’s the catch: You must access the online store through the app; otherwise, your purchase won’t be registered, and you won’t receive any cashback. This is a common practice for cashback sites, as they need to track your purchases.
If you meet the purchase criteria, you’ll earn SocialGood coins (SG), the app’s proprietary cryptocurrency. I’ll discuss the uses of these coins later, but for now, you’ll earn approximately 15% in SG currency. Similar to many cryptocurrencies, one coin is not worth a significant amount (e.g., when I checked, one coin was valued at $0.03674).
Another thing worth mentioning is the waiting period for your cashback to post to your account, typically about a month. This delay is standard practice, as it allows your purchase to clear any potential refund period. So, if you make a purchase, don’t expect an instant account credit. You’ll need to wait at least 30 days in most cases, but again, this is standard for the industry.
There are additional specifics regarding ways you can earn, which I’ll cover in the upcoming section on potential earnings.
Staking Is SocialGood Any Good App
An additional method for earning with the app involves what is known as “SG staking.”If you’re unfamiliar with the term, staking in the cryptocurrency world involves temporarily locking up a portion of your digital coins to earn interest or dividends over time. With SocialGood, staking your SG coins means you lock them in for a period during which you cannot withdraw or add to them. However, once this staking period ends, you become eligible for staking rewards, which can be as high as 15% of the amount you staked. This provides a passive and lucrative opportunity to grow your earnings on the SocialGood platform. Many users employ a popular strategy of staking the SG they’ve accumulated from cashback and referrals to optimize their total earnings.
Refer your Friends Is SocialGood Any Good App
Another effective way to enhance your earnings on SocialGood is through their referral program, a concept familiar to users of other cashback and “earn money online” platforms.
To utilize this feature, simply share your unique invitation code with individuals you wish to introduce to the app. When they sign up using your code, both of you have the potential to earn a bonus in SG, the app’s cryptocurrency, which currently holds a value of $50 for each party. It’s essential to note that this amount may fluctuate, so it’s advisable to check the current value.
However, to qualify for the bonus, the person you invited needs to make a certain amount of purchases, ensuring they genuinely engage with the app. Earning through referrals can be highly rewarding, given the substantial incentive for each successful invitation. It’s a great way to boost your overall earnings on the SocialGood platform.
Earnings Are SocialGood Any Good App
When it comes to receiving your earnings from the app, SocialGood operates differently compared to other cashback platforms. Instead of traditional cash, you earn a cryptocurrency known as SocialGood (SG).
To access your earnings, you’ll need a cryptocurrency wallet that supports SG. The app allows you to transfer your SG to your wallet at any time, without having to reach a specific threshold, setting it apart from many other platforms.
If you’re familiar with handling cryptocurrencies, this payment process will feel quite straightforward. However, if you’re new to the world of crypto, I’d advise taking the time to understand it thoroughly before attempting a withdrawal. It’s essential to be cautious, especially since SocialGood now imposes a significant 30% fee for transferring your SG to an external wallet. This fee can have a substantial impact on your earnings and should be taken into account.
For those who prefer cash over cryptocurrencies, there are various other platforms that offer direct bank transfers, which might be more suitable for you. To find the best cashback rates for the stores you frequently shop at online, I recommend checking out CashBackMonitor.com.
In summary, while SocialGood’s approach to earnings may differ from traditional cashback platforms, it offers flexibility in transferring your SG to your wallet at any time. Just be mindful of the withdrawal fee and consider your preferences before making a decision.
How Much Can I Earn Is SocialGood Any Good App?
Ultimately, your earnings with SocialGood will largely depend on your shopping habits and whether you have any referrals.
Overall, SocialGood does offer impressive cashback rates and a diverse selection of partner stores. However, the availability of partner stores may differ based on your geographical location. If you frequently shop at stores listed in the app, it has the potential to be a lucrative option for you, provided you’re comfortable receiving payment in cryptocurrency. If not, you can explore other platforms and compare cashback rates on CashBackMonitor’s website.
In essence, the amount you earn will be directly linked to the extent of your shopping activity. Keep in mind that individual results will vary, as shopping behaviors differ from person to person.
Joining Is SocialGood Any Good App
Getting started with SocialGood is a breeze. Simply download the app and use your preferred sign-in options, such as Facebook, Google, Twitter, or your email.
Upon opening the app for the first time, you’ll immediately see the cashback deals available. While it doesn’t prompt you to sign up right away, you can easily register by tapping on the account symbol and saving your progress.
Moreover, if you meet certain criteria, a welcome bonus of up to $100 in SG often awaits you. However, keep in mind that this bonus is subject to change, so it may differ by the time you decide to join. Once you’ve completed the registration process, just select your location in the settings, and you’re all set to start shopping.
SocialGood welcomes users from all around the world, and the best part is that joining is completely free.
Is it Legit Is SocialGood Any Good App?
While there may not be significant concerns about your crypto wallets being at risk, disappointment and skepticism surround the SocialGood app due to unfulfilled promises and slow fund disbursement, resulting in a low 1-star rating on TrustPilot. The introduction of a “membership” feature in 2022 was poorly received, leading to users spending more to access the app or withdraw their earnings.
While the app appears legitimate, the numerous complaints warrant extensive research before considering its use.
- Some users have been using the app for an extended period, indicating longevity and a degree of trustworthiness.
- The innovative concept of receiving crypto as cashback initially attracted many users.
- Claims of earning substantial amounts, with at least one user claiming over $1000 in earnings.
- Works well with major online retailers like AliExpress and eBay.
- Frequent “connection error” messages cause loss of shopping records and rewards.
- Problems with the withdrawal system, include extended wait times and high fees.
- Some users feel it may be a scam due to payment requirements for withdrawal or implementation of membership fees.
- Support is criticized for lack of response, automated replies, and unhelpfulness.
- Failure to recognize purchases, resulting in lost cashback.
- The perceived decline in service quality after certain updates.
- Difficulty understanding or using platforms like MetaMask.
- Claims about the value of the SG coin and potential market capitalization are seen as dubious by some users.
- Limited exchange options and high gas fees for SG coin.
- Some users experienced downgraded membership statuses without clear explanation, like Platinum status.
Considering the mixed feedback and varied experiences, cautious research and consideration are essential before deciding to use the SocialGood app.
In conclusion, SocialGood is a genuine cashback app that offers rewards for shopping and more. It stands out with its decent cashback rates and user-friendly interface. However, there are some drawbacks to consider.
The app’s list of partner stores might feel limited, and it lacks direct cash rewards. Additionally, certain fees, such as withdrawal charges, can be quite steep, and there’s talk of introducing a registration fee. Over time, some changes have made the app less appealing, especially with the complexities of the crypto-based rewards system.
Whether SocialGood is right for you depends on your shopping habits and what type of rewards you prefer. If you frequently shop at the app’s partner stores and believe in the potential value of the SG coin, it might be a suitable match. However, if you prioritize straightforward cash rewards, you may find better options on other cashback-like sites. That’s all for now.
As always, if you want to share your experience or comment on the app, feel free to do so below. Your input is valuable!