How do I redeem coins?
As a creator of a community, you are able to redeem the coins from your personal Locals wallet by transferring it to the community wallet. Coins can be added to your personal wallet through various methods such as tips, gifts and buying your own coins. It is also possible for community admins and team members to transfer their coins from their own wallet to your community for you to redeem into money.
Go to the creator admin panel of your community
Go to the Coins Payments tab > Transfer Coins
Enter the amount you want to transfer to the Community (make sure you have this amount from your personal wallet)
The minimum amount that needs to be transferred is 100 coins and the maximum amount per month is 50,000 coins
Click Transfer
Confirm Transfer in the pop up
Once you confirmed, the table on this page will show what user transferred coins to this community's wallet to be paid out
Log into Locals.com
Go to Account settings
Click on the Team Member tab
This tab will only be available if you are a team member of a community where tips can be redeemed
Click on the Settings icon next to the community you want to transfer your coins to
Click on Transfer coins button
Enter the amount you want to transfer to the community and click Transfer
Once it's transferred, you can see this transaction in your Coins history.
You must have a Stripe account connected to Locals.
All coins must be transferred by the end of the calendar month at 11:59 pm EST to order for it to count towards the current month's billing, otherwise, the coins transferred will be counted towards the next month. The coins in the community wallet are paid out once a month, it will be combined in with the payment Locals usually pays for communities who have earned coins from members support. The payment schedule is typically within 7-10 days after the end of the previous month. This can be found in the creator admin panel > Coins Payments > Payments
You will see a breakdown of the coins you earned either from regular support or from coins redeemed from wallets (includes total from creator, admin and team members)
How to transfer coins to the community wallet
For creators and admins, you can redeem it through the creator admin panel:
Go to the creator admin panel of your community
Go to the Coins Payments tab > Transfer Coins
Enter the amount you want to transfer to the Community (make sure you have this amount from your personal wallet)
The minimum amount that needs to be transferred is 100 coins and the maximum amount per month is 50,000 coins
Click Transfer
Confirm Transfer in the pop up
Once you confirmed, the table on this page will show what user transferred coins to this community's wallet to be paid out
For team members who don't have access to the creator admin panel, a new tab will be available on Locals.com:
Log into Locals.com
Go to Account settings
Click on the Team Member tab
This tab will only be available if you are a team member of a community where tips can be redeemed
Click on the Settings icon next to the community you want to transfer your coins to
Click on Transfer coins button
Enter the amount you want to transfer to the community and click Transfer
Once it's transferred, you can see this transaction in your Coins history.
How do I get paid out after coins are transferred to the community?
You must have a Stripe account connected to Locals.
All coins must be transferred by the end of the calendar month at 11:59 pm EST to order for it to count towards the current month's billing, otherwise, the coins transferred will be counted towards the next month. The coins in the community wallet are paid out once a month, it will be combined in with the payment Locals usually pays for communities who have earned coins from members support. The payment schedule is typically within 7-10 days after the end of the previous month. This can be found in the creator admin panel > Coins Payments > Payments
You will see a breakdown of the coins you earned either from regular support or from coins redeemed from wallets (includes total from creator, admin and team members)
Updated on: 16/08/2022