How do coins work on the Locals app?

What are Locals coins and what are they used for?

Locals coins are used as a type of currency on the Locals platform. Members can purchase coins equivalent to a month's worth of support and then give the coins to creators as a form of payment. Coins are there to allow members to support from the app and allow for easier micro-transactions such as tipping.

Please note that subscriptions made with coins are a one-time purchase for a set time frame that doesn't auto-renew.

How does coins translate to money?

10 coins ≈ $1 USD

For supporters, the conversion is a rough estimate as we take into account fees that are applied by external parties and discounts we apply for larger purchases. Please note if you are out of the US, currency conversions will affect the coin to dollar conversion.

How does this affect my income and how I get paid?

Because payments are being made through the Apple and Google app stores as opposed to directly to your Stripe account, you will see that payments will be made to you later by Locals. We will endeavor to make the payments to our creators within 10 business days of receiving payments from the app stores (which can take up to 30 days). Therefore, keep in mind that the Gross Revenue shown on dashboards will not match what you see in your Stripe accounts. We will continue to add more information into the dashboards.

To learn more about the charges taken from your Gross, read this article.

Why can't members pay with credit cards instead?

Locals itself is unique in that there are multiple communities all in one app. In order for the application to be approved with in-app purchases where members can support any creator they want through one app while following guidelines made by Apple and Google, this is currently the solution we have. However, members can still support a creator on the web with their credit card directly and access the app with the same subscription afterwards.

We suggest that when notifying members of the app that you let your members know they have the option of doing a continuous monthly subscription on the web instead.

Updated on: 17/11/2021