Online shopping is a great way to save money and get convenience. Now that we are entering the third generation web – Web 3.0 cryptocurrency is taking the lead in that sense as well. The number of buyers that have adopted cryptocurrencies in e-commerce has increased exponentially. Interestingly, there is a project that is merging these two concepts – it is referred to as SocialGood.
About SocialGood – The Crypto Shopping App
To address the world’s growing economic inequality problem, the Japan-based Social Good Foundation developed a mobile crypto back app called SocialGood, which stands out because it offers 100% crypto back. It is very different to other cryptocurrency apps which offer cashback. Shoppers can expect to get 1% to 33% cashback with other apps. Some companies offer an additional waiting period up to 3 months. SocialGood allows for a 30-day waiting period before you can receive your crypto back. This app can be used on both iOS and Android. It features numerous eCommerce partners including AliExpress (Ebay), Myntra and Best Buy as well as Alibaba.
SocialGood strives to give back to its community. SocialGood is a community-driven cryptocurrency project that aims to improve the world, create win-win situations for merchants and buyers, as well as connect the world using cryptocurrencies.
What SocialGood App Does
This process is simple and involves only a handful of steps.
Customers can first buy goods in fiat currency. Shoppers can also pay with any supported payment option on the eCommerce site. They will be eligible to receive up to 100 percent of any value they have purchased in cryptocurrency up to $10,000.
They will also be notified by SocialGood (SG), that their cryptocurrency is pending. This crypto will allow shoppers to withdraw it within one month.
Last, withdraw the cryptocurrency. After the company that purchased the crypto has authorized it, the withdrawal process can take up to a month. SG is listed on top crypto exchanges, such as BitMart or Uniswap. If they keep their SG, users can receive up to 15% APY as staking rewards. The utility of SG tokens is expected to increase, so their value will likely continue increasing. SocialGood has more than 600,000 users worldwide.