All About Loot Perks
Earning Loot Gems and redeeming for Loot Perks
Why We Give Out Perks
In order to reward our loyal customers, Loot Market is offering Loot Gems as rewards for participation in the marketplace. All transactions (and transactions by your friends) are eligible to receive Loot Gems (Selling Items, Friend Sells Items, Deposit Funds or Friend Deposits Funds).
Starting today we will be offering reduced fees for the sale of items. In the future, we will be adding more ways to redeem your Loot Gems.
How to Get Loot Gems
There are 4 ways to get Loot Gems: Selling Items, Friend Sells Items, Deposit Funds or Friend Deposits Funds. The following table outlines the value of each transaction.
- You Sell $1 = 100 Loot Gems (before fees).
- Friends Sells $1 = 25 Loot Gems (before fees).
- You Deposit $1 = 75 Loot Gems.
- Friend Deposits $1 = 50 Loot Gems.
In order to get credit for your friend / referral participation on Loot Market you will need to share your referral code to them. You can find your referral code on the Giveaway giveaways page.
How to Redeem Loot Gems
Once you have collected Loot Gems, you are able to redeem them for Reduced Sales Fees.
There are 5 levels of perk redemption. You must redeem the first level to gain access to the second level. The cost in Loot Gems for each level is:
|Get to 5% faster with Loot Elite.|
Re-activating/Extending a Perk: +15000 Gems
Once your Loot Perk Level expires (after 30 days) you can renew this at any time and keep the same Loot Perk Level! We know you worked hard to get to your level and you should keep it.
Stay tuned for more ways to redeem your Loot Gems!
How Perks Work
After you have upgraded your Loot Perk, all future fees will be discounted as long as your perk is still active. Your perk will be active for 30 days from the time it was redeemed. You can extend your perk level for an additional 30 days at any time (adding / stacking the time extension). Once your perk expires you are still locked into that level. As soon as you have enough Loot Gems, you can redeem them for an extension of your perk at the same level it was previously at.
What Can I Get?
- Reduced sales fees (up to 5%)
Do Perks Expire?
No. They only become inactive.
When your perk becomes inactive, the fee will return to the default 10%, but your current level will remain the same. The next time you activate (or upgrade) your perk, it will be right where you left it.
Do I Earn Gems Before or After Fees?
You will earn 100% of your item sale as gems.
Ex. A $10 item will earn you $9.00 and 1000 gems.
Do I Get Gems From Previous Sales?
Don't worry, we've got you covered on that one. You've been credited gems for all of your (and your referrals) sales/deposits!