Mogo : Let’s Stack Some (Green) Sats

November 12, 2021/ By Team Mogo

Let's Stack Some (Green) Sats

Sats made sustainable.

Let's stack sats, sustainably.

We all know that personal consumption is a major driver of climate change and chronically empty bank accounts. Today, we're excited to introduce green satoshi rewards-designed to help fight overconsumption, overspending, and climate change all in one go.

Yep, it's basically a recipe for a better world. All you need to do is sign up for a free MogoCard to join the club and start stacking green sats.

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Green Your Bitcoin With Mogo

Today, we're bringing you climate positive satoshi rewards for every MogoCard transaction.

You already know that for every MogoCard transaction, we plant one tree. Yep: one tap = one tree planted in your honour, no exceptions.

Recently we launched green bitcoin. Now, we offset the entire climate impact of all bitcoin held on our platform.¹ It's no small feat-mining a bitcoin emits around 421,000 lbs of CO2. But for every bitcoin held on our platform, we'll plant enough trees to offset 500,000 lbs of CO2. It's sustainable, guilt-free bitcoin-a world first, might we add-and it's available now in your Mogo app.

So where do green sats come into all this? Here's the deal. A satoshi is the smallest unit of bitcoin available. As of today, every time you tap your card, you'll rack up green satoshis-as in, satoshis for which we've offset all associated carbon emissions.²

Now, with every tap, you'll be stacking climate positive satoshis that you can leave as bitcoin or withdraw as cold, hard cash.

Get On The Path To Building Wealth (The Green Way) with MogoCard

At its core, the MogoCard has always been designed to help you build wealth.

It's a prepaid card, so you can't overspend while using it; and every time you tap, we send you a push notification reminding you how much you've spent and what you've got left on your card. That kind of visibility can help you keep track of your spending, stay on budget, and consume less.

(Seriously. According to a Mogo survey, some card users reported an average savings of $201 per month-just by using their MogoCard as a budgeting tool.³ An extra $200 per month could go a long way for your investments, retirement, or vacation funds. Go you!)

Now, spending wisely and fighting climate change is easier than ever.

We know we need to limit personal consumption to help fight climate change, but buying stuff can also be a necessary part of life. Now, when you buy with the MogoCard, you're not only planting a tree-you're earning satoshis!

It's more green for the planet, and more green for your wallet-all for free with your MogoCard.

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This blog is provided for informational purposes only, is not intended as investment advice, and is not meant to suggest that a particular investment or strategy is suitable for any particular investor. If you're unsure about an investment, you may wish to obtain advice from a qualified professional. Nothing herein should be considered an offer, solicitation of an offer, or advice to buy or sell securities. Buying and selling bitcoin is risky and you may suffer losses. The price of bitcoin is highly volatile and speculative and so you should never invest more in bitcoin than you can afford to lose. It's also important to remember that past performance is no guarantee of future results. *Trademark of Visa International Service Association and used under licence by Peoples Trust Company. Mogo Visa Platinum Prepaid Card is issued by Peoples Trust Company pursuant to licence by Visa Int. and is subject to Terms and Conditions, visit mogo.ca for full details. Your MogoCard balance is not insured by the Canada Deposit Insurance Corporation (CDIC). MogoCard means the Mogo Visa Platinum Prepaid Card.

1-Mogo will offset the approximate carbon footprint generated from mining the maximum aggregate number of bitcoins held on its platform at any given time (as determined from time to time).

2-This Milestone Reward is a component of Mogo's Rewards Program. To be eligible, you must have a: (i) Rewards or MogoCrypto/Bitcoin account; and (ii) the Mogo Visa Platinum Prepaid Card ("MogoCard"). As of November 1, 2021, eligible MogoMembers will receive 50 satoshis for each purchase transaction they make using their MogoCard. Rewards are based on all eligible purchase transactions. Mogo will determine your number of eligible purchase transactions and issue you 50 satoshis per eligible transaction into your Rewards account within 30 days from the date they are earned. Mogo will not be responsible for any technical or other impediments which may delay or prevent the delivery of any Reward to you. All decisions by Mogo regarding the eligibility of purchase transactions or any other matters respecting Rewards are final and binding. All Rewards are subject to the MogoAccount Terms & Conditions and additional details here. Mogo reserves the right to change or terminate this incentive at any time without notice in its sole discretion. Mogo cannot guarantee that the value of your satoshi rewards will increase. If the price of bitcoin decreases, you may lose some or all of your satoshi rewards.

3-Based on an online survey of active MogoCard users by Mogo Inc. conducted between July 13, 2021 and July 16, 2021, with 1,446 respondents to a combination of multiple choice and fillable text box questions. 91% of respondents agreed that the MogoCard can help them better control their spending. 66.5% of respondents reported that they were spending less on discretionary spending now that they were using the MogoCard, with respondents reporting that they believed to have an average savings of $201 per month (based on 902 respondents who specified an amount and excluding 60 respondents who did not specify any amount).

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