I know most crypto is a scam but how on earth can you long term give 50-100% crypto back on certain stores like eBay plus give up 15% staking rewards?
Is it simply a scam in which the 'social good' currency will eventually be worth less and less like a inverse ponzi scheme?
hey rekt … without going into too complicated … cex .. bla bla ..wallet
is buying crypto as easy as open coinspot account , deposit money , and buy , 3 steps , that's all right ?
Buying on a CEX is pretty easy. It's not much different to buying stonks or CFD.
Choose a reputable onramp or CEX > sign up > KYC (or non-KYC) > Tx fiat from bank account > trade > leave coins on CEX (or Tx to cold wallet). The latter requires a bit of learning but it's worth it for risk management.
There are plenty of text and vids on YT on how to buy and secure digital assets.
What's an inverse ponzi scheme? To me, it sounds like a straight up ponzi scheme.
Why does it sound like a Ponzi scheme?
if you are trying 2 make A lot Buck probably SG is not ideal, but if just Trying2SaveABuck maybe can.
Definitely sounds like a scam but @levity is always referencing it so idk.
I'll let you know when the 900 SG I have from referral bonuses and cashback go from "pending" to being able to be transferred off the App. It's been over 5 weeks now.
Seems that this is the way they do it. You get the SG instantly from referrals/cashback but it's "pending" and until it's "approved" you can't use it.
Isn't that normal for all cashback?
The pending is to ensure the users don't cancel the Tx before they get the referral from the shop.
yeah people just want money grab scheme that sounds too good to be true.
That's completely normal for cashback and the reason is really simple. If you buy online and the cashback is approved instantly what's stopping you from cancelling an order while it's in transit, returning it for a refund when you receive it and so forth? It would be a really good get rich scheme quickly.
The idea of having 90 days is enough time for your order to arrive, potentially be outside of the "change of mind" period and so forth. A lot less risk for the merchant, affiliate network and cashback provider.
Waiting for levity to come in and shill his referral link.
Hahaha I thought I was the only one that received his link
I've been hitting it up since June. Cashbacks track 95% of the time. Pendings turn to Approved 100% of the time (excluding those eBay/Ali orders which were cancelled or refunded of course). Cashed out each month without an issue. I'd say not a scam per se, more like an venture which is unsustainable long-term, that is being exploited by a small number of users in the early months and becoming less and less favourable each month.
It's free money.
Take first and worry about it being a scam later.
So far so good here. I have about 3000 SG coins and soon will be able to cash out. I signed up when an SG coin was pretty much equal to US$1 and now it's down to US$0.65. So the 100% AliExpress cashback isn't really 100% back on the order given the value.
Being able to cash out to US$ is extremely useful if you buy a lot from AliExpress. Pay in USD with USD ;)
Where do you keep the USD, to later pay AliExpress with?
Want to share how you withdraw (exchange and where to keep USD)?
I haven't got up to the exchange part yet but with other things I have USD go into PayPal and it's just stored there. Then when buying from AliExpress I can choose to use the USD balance.
I’ve been able to cash out a few 100 so far. Took a while but so far so good!!
I've so far withdrawn about USD$100 worth and have about $300 pending. Just made a large purchase on Ebay and hoping it will track ok as per usual with Ebay. My last AliExpress purchase didn't track, which was a first since I started using SG.
Not directly related to OP, but I’m a new socialgood user.
Have had a couple things track OK from eBay & just put through my first AliExpress order, hopefully it tracks ok (and hopefully it’s enough to count for the bonus $100 offer i got, assume it doesn’t need to show as tracked by the offer expiration, just purchased).
Just noticed eBay is showing as only 2.6% cashback now… is it common for their cryptoback rates to change so much?
assume it doesn’t need to show as tracked by the offer expiration, just purchased.
Yes doesnt need to
it common for their cryptoback rates to change so much?
Yes they can start/stop special promo anytime
Cheers, just checked now and the AliExpress stuff has tracked already (quicker than eBay tracking). The bonus which has expired now, does also show I’ve fulfilled requirement, so just to wait for approvals now. Sweet.
Hopefully AliExpress will stay at the 100% value for a while longer.
All transactions since I started using on 2 Dec are still pending. Once approved I'll cash out immediately.
If you have more than $300, otherwise you'll have to wait until they lower withdrawal limit.
Temporary Increase of the Minimum Withdrawal Amount
While this campaign is still running, we have discovered that some users are creating fraudulent (multiple) accounts. As a result, while we investigate this further we are temporarily making the minimum withdrawal amount US$300.
517 cleared out of 1650 so far
I now have 492 cleared (what happened to 517) and the 985 in were bonuses all denied, even though I definitely met the criteria for some. Total shit.
also ebay is now only 2.6% cashback instead of 50%
eBay is no longer supported. Not sure if it is temporary or permanent removal.
oh wow you are right, gone now after a day or 2 at 2.6%
eBay is still 50% in my app as at today?
@BartholemewH: You're probably seeing it under "recently viewed". (It was also still there for me, but I always got an error while clicking on it.)
Try clicking on it (it will give an error) or try searching in the "search stores" and you probably won't find it.
Otherwise: you might be lucky (or unlucky if you order and then it doesn't track ..)
and they have paused my withdrawal because "i received more cashback than expected"… i just bought things from ebay and have nothing to do with cashback amounts.
seems a bit scammy to me so far
I’ve had the same recently. I did notice 30-40 appear unexpectedly one day so I’d say that’s what it is about.
Have you had yours unlocked yet? If not, could you keep us up to date. I’ll do the same
i just have some ebay ones and social good ones, i assume it was the bonsues they keep emailing me about to spend $30 and get $100 bonus or something.
still in pending and will also update if changes
Update on mine. My balance is now back at what it was before the glitch. Not sure if I can withdraw yet but will sign up with an exchange and give it a go
Yep same for me. Except there's a notice that they have paused all withdrawals due to fraud
I seem to only have option to withdraw to a connected wallet like metamask. That will mean additional huge gas fees to send to an exchange. Is that the only way to do it?
If the current process to withdraw is too complicated or expensive, why not just leave and stake it till the storms go away?
What I define as a scam is when a bad actor runs off with your money.
Have I lost any money?
No I have not.
Could they be a scam?
Perhaps, I’ve only use one time passcode
Have they scammed?
By my definition above and this current time, nothing shows them to be a scam.
Based on some comments, has the definition of “scam” been shifted to a different meaning where not being able to withdraw money is considered a scam?
I made an order in AE (100% cashback + referral bonus) with it and got rejected after 2 months. I've filed a request to them and hopefully, it will be fixed, if not scam for sure.
hopefully, it will be fixed
Did you get a generic response already, they went silent after that for me. They don't respond to my booking.com enquiry anymore (but that was tracking related).
My hopes were up a month or 2 ago, it seemed too good to be true, then I read people were able to cash out.
Now, you can partially cash out, but only cashback from purchases (so bonuses can't be cashed out yet: don't worry it will be fixed at some point. Likely by the time the coin value is a fraction of what it is today.).
Got a reply from them and they simply said they won't be able to know the reason why it getting rejected by AE. (Although my order is not gift card etc and should be 100% eligible for cashback), didn't bother to deal with them and deleted the app.
So my rewards have automatically been staked and I have a connected metamask wallet. How do I withdraw to MM?
You have to withdraw twice now (and pay two fees). To be honest I think Trust wallet is better with fees than MM (not sure if it supported). You withdraw $300 min 500 max SG to metamask(may go lower) pay a fee from your SG wallet. If you want to exchange, then you have to pay another send fee or use metamask then Uniswap and pay another conversion fee. You can use txstreet to see average eth gas fees and try to get a time when they are cheap ($18).
Yeah it's a bit of a weird situation, rant —->. Some of the Japanese companies I dealt with seem kind of naïve but also pay well. I did tasks on Workshift, recording scripts for AI voice training and get paid $109 for 30 mins or so maybe twice a year. They also seem to sometimes follow a cultural norm of having weird gimmicks to save money. Eg, pay $2 for sauce at a restaurant. SG did was naïve imo, but now they had to enforce some of these gimmicks to survive, eg lucky dip for a 100% cashback on Aliexpress. I think there is correlation of the SG price with BTC, so when that tanks, they are losing money. Also, people just created many fake accounts (with no security checks) and got the $30 usd referral each time. it's something like 10k sg is in wrong referrals and more for spending in each one. After this, they stopped responding to CS enquiries and people in the telegram constantly accuse them of a scam. Guessing they reached their budget or ran out of runway. Hoping there are reforms and it can continue. Grateful for the cashback that happened anyway.
terrible exchange rate now, down to 30c
It's not a scam, but they have definitely lost a lot of customer confidence. I have seen proof of people being able to withdraw their approved SG.
For those that are unaware
Around December (thereabouts) they ran a $200 referral bonus promotion which was quite successful as they were able to onboard hundreds of thousands of users. Unfortunately due to no KYC's or other measures preventing multiple accounts from being made by the same user a lot of people decided to refer themselves and receive as many bonuses as they wanted. There was a somewhat popular video on YouTube that taught viewers that they could make in excess of $10,000+ by referring themselves via multiple Social Good accounts (Which I believe has since been removed).
Social Good caught on this issue quite late and decided to stop ALL withdrawals pending an investigation into everyone's accounts to see if said accounts were repetitively used to refer other accounts.
This investigation has been going on for the better part of 2-3 months. They have since enabled the withdrawal of approved transactions but all referral bonuses are prevented from being withdrawn until they complete their investigation.
I understand that they needed to investigate but 2-3 months (ongoing) is starting to be a kick in the teeth for those that did the right thing.
Their Telegram group is riddled with people complaining and most of their social media prescience has been affected quite considerably by negative reviews as a result of people not being able to withdraw their bonuses (As per the above), so I'm hoping they continue to honour transaction approvals as it's doubtful their company will continue to prosper moving forward.
I'm still currently waiting for quite a number of transactions to approve, however I'm still within the 60-90 day verification period (from when you receive the item to when your SG is approved) so I'm hopeful that they will be approved at some point. The price of SG has dropped quite a bit so I unfortunately won't get the majority of what I spent back, but it's still better then nothing! I had a referral which has been denied for some unknown reason, I opened up a ticket but have yet to receive a response so who knows if that will ever be rectified.
Are you worried about not getting the cashback?