Frequently Asked Questions
Unyti Exchange is an open-source, closed-loop system that functions as a community-driven, value-based social and economic platform. In short, it helps to bring merchants, consumers, communities and non-profit organizations together again.
Unyti Exchange works by allowing vendors to pay one another with their own virtual IOU. This IOU can then be used like cash, sold, or given as a gift to others.
Good question. We have yet to meet anyone that didn’t want keep their cash. You may be the first.
If the IOU doesn’t sell then upon request from the Vendor you simply buy back the IOU.
This may sound harsh but more people are familiar with Taylor Swift than how currency is created. The reason Unyti sounds too good to be true is because of ignorance. Nothing more, nothing less.
Probably not. It is not a license or a blank check to get anything and everything you want.
Well, would you return the to scene of the crime? Probably not! IOUs must be redeemed with the issuer, and we can assure you that there IS a paper trail.
You pay a fee in IOUs for each of the programs or the services offered by the Exchange that you want to use.
Trade Exchange Questions
Yes it can. The question is: will it? Sure, it will. As long as you use Unyti in a selfless manner it will help you do some pretty amazing things within your organization. Not to mention your members.
Yep, they sure can. They can also get direct connection to Communyti. They just have to simply ask for it.
Yep, they sure can. Matter of fact, those exchanges that use either Unyti or Communyti will help themselves to a wealth of benefits that this powerful combination can bring to their organization. However, until exchanges get over themselves and stop thinking the world revolves around them, then they will simply continue to charge merchants high fees for doing what they can do for free.
Yes. Some restrictions apply though. So, if you are reading this, and you are a government agency or taxing authority, you will have to contact Communyti directly to complete your enrollment.
Of, course. They are a business like any other business. Oh, you thought they were government agencies? Nope, they are businesses just like any other. Imagine that.
Unyti Exchange Program Questions
You are paid in your local currency. If you don’t know what that is don’t worry…Unyti uses dynamic currency conversion and since you are required to have your own payment processing method such as Stripe, PayPal or other payment processing choice you will get paid according to their currency rules.
No. However, the verdict is out on whether or not you can use Unyti in an OFAC country. In our opinion it is your value and that means your currency. With that said, is it subject to their rules: no. However, for the sake of argument and to be non-confrontational, please read more about the Office of Foreign Assets Control (OFAC) sanctions here: OFAC
Dang skimpy. Simply come to the Communyti and put it up for sale. When someone buys it, you get the money and Unyti charges you a cashless fee in value that we then sell just like you.
They simply come to communyti.com and purchase it. Matter of fact, just click the Communyti link at the top of the page and then select the Savings category. It’s too easy, actually.
Non-Profit Organization Questions
Yes. They are required. Just think of it…a community without a non-profit: not very community-like, huh? Besides, how else are they going to exchange donations for cash?
Unyti allows non-profits to accept cashless, risk-free donations that can be used to raise funds for their causes. These donations can then be exchanged for cash thereby guaranteeing a benefit for everyone.
No. While we do value all non-profit organizations we only accept Non-Profits that provide a “community” benefit. Most will generally be accepted, however any group that does not promote UNITY among the masses are not allowed. An example of this would be any group, while federally-recognized as 501(c) that has a history of stirring strife and division.
That depends on the non-profit. Non-profits that accept Unyti for donations do stand a chance of getting more cashless, risk-free donations, however, they still have to do the work to raise the funds.