myCred 2.0 update announcement
After months of planning, hard work, and dedication, we are excited to announce the launch of myCred 2.0 Beta. The latest version features a new and improved look to myCred that improves its overview and usability. These are not the only changes we are bringing to myCred.
You will find new features, fixes, and changes in myCred v2.0, so let’s go ahead and discuss what’s new in this update:
We are introducing cashCred to the core of myCred as functionality that allows users to redeem myCred points for money. Moreover, cashCred can also perform the following actions:
- Users can redeem myCred points for money.
- Allow multiple custom point types.
- Define exchange rates for each point type.
- Users can send a request to the admin for cash withdrawal.
- Approve or deny user requests for cash withdrawal.
- Write additional notes for users which will be displayed on the payment form.
- Define the currency code (USD, GBP, AUD, etc.) for the payment form.
- Display the CashCred module on the website using a shortcode.
- Set minimum or maximum restriction limits on point conversion requests.
Allow users to create something that they can sell on your website and charge people with myCred points. It can be anything from adoptable to tutorials. Later, they can convert their earned myCred points into real money using cashCred.
Similarly, users who earn points with actions or specific hooks can also exchange them for money.
cashCred works perfectly with a reward system that engages users to perform activities that require user interaction (watching a video, filling out a survey, etc.) but instead of giving them cash, you reward them with points that can be encashed at any point in time.
myCred Central Deposit
myCred’s Central Deposit feature enables the admin to nominate any user account to become a ‘Central Deposit’ account, which then allows the selected user account to manage all transactions related to myCred points.
How does the Central Deposit feature work?
The Admin can assign the Central Deposit account functionality to any existing user so that it can control all in-out transactions. In the case the account balance reaches ZERO, no points will be paid out.
Instead of creating points out of thin air, all payouts are made from a Central Deposit account. Any point a user spends or loses is deposited back into the Central Deposit account.
You can read the complete how-to-guide in our updated technical documentation. For more questions and queries, please contact email@example.com.
Note: Upgrading to myCred version 2.0 will automatically disable myCred Banking module.
Follow these steps to download myCred BETA v2.0
- Go to https://wordpress.org/plugins/mycred/
- On the right side of the page, click on the “Advanced View” option;
- Then scroll down to the bottom of the page.
- Select “beta2.0” from open the dropdown menu; under the “Please select a specific version to download” sub-section.
- Then click on the “Download” button;
- Upload the .zip file on your WordPress website.
Click the “Download myCred Beta 2.0” button for direct download