The beans rate is the conversion rate that will be used to compute the value of your beans in your default currency.
You can change your beans rate in your settings. However there are a couple of things to take into consideration when changing your beans rate:
- Changing the rate will impact the value of the beans that already been created. To illustrate this, let’s assume your current rate is 100 and default currency is USD. A customer with 1000 beans has $10 credit. If you change the rate from 100 to 10. Then the same customer’s account balance will be worth $100. If you change the rate from 100 to 1000. Then the same account will have $1 balance.
- Since beans does not support decimal, the beans rate cannot be decimal. It’s very important to take it into consideration when changing your beans rate as this will impact the granularity of your rules especially for decimal or expensive currencies like USD. For example suppose you set your beans rate at 1 beans for 1 USD and that you have a referral rule like: Invite a friend and get x beans for each dollar (USD) they spend. Since the minimum value for x is 1. Then the minimum you can give for referral is 1. That’s approximately a 100% commission rate.
To conclude in most case, it’s better to not change the default rate unless you are pretty sure about what you are doing.