FAQ

Frequently Asked Questions

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What are goodnikels?
Goodnikels are a time-based alternative currency that facilitate the exchange of professional services.

“Time-based alternative currency” – what the heck does that mean?
Time is money, so the old saying goes. Well goodnikels are time as money. You earn them by spending time helping others with their projects, and then other people can pay you back with their time – in other words, you work for an hour for someone else, you get paid in goodnikels. You then hire someone else to work for you for an hour with those same goodnikels. Simple, right?

Is it like a bitcoin?
No, bitcoin is a cryptocurrency that can be bought and sold on the open market, and which has a fluctuating value. Unlike bitcoin, goodnikels can neither be bought nor sold, they can only be earned through service, and they do not fluctuate in value.

What’s a goodnikel worth?
A goodnikel is worth 1/10th of an hour of professional services. Or in other words, 10 goodnikels is equal to one hour of service.

Why not just barter?
Bartering is difficult – you might be a skilled accountant who needs a new logo design, but in order to barter directly you’d have to find a graphic designer who needs someone to do her accounting. Goodnikels eliminate the need to find an exact match – you do what you’re good at, and later you can find someone who does what you need help with.

Isn’t this just a “time bank”?
Yes, that’s it exactly. The only difference is that Goodnikels is designed specifically to help social enterprise and nonprofit organizations, and we only deal in professional services. No blueberry pies, reiki massage or lawnmowing.

Why are they called goodnikels?
Goodnikels originate in the form of a grant or loan to a nonprofit or social enterprise. In other words, goodnikels are created (or “mined”) in the service of helping a social cause based organization to do some good. Also, goodnikels were created by Goodnik.org, and it just seemed to clever to pass up.

How can I get some?
In order to get goodnikels, you need to help someone with a project. Find a project on the website, apply to work on the project, and when you’re done you’ll be paid in goodnikels.

I’ve got some, what can I do with them?
Use your goodnikels to hire someone from the Goodnik.net site to help you with a project – this could be anything you or your business needs, like hiring an accountant, lawyer, marketing consultant, graphic designer or any other professional.

Can goodnikels be traded for cash?
No. Goodnikels can only be used to pay for services. There is no cash value for goodnikels.

What can I spend them on?
Right now you can only spend goodnikels on professional services through the Goodnik.net website. In the future, there may be other uses for them.

I’m a nonprofit – can I get a grant?
Yes! If you’re a nonprofit or social enterprise, you may qualify for a grant or loan to cover the cost of your first project. Just go to http://about.goodnik.net/grant-application/ to apply.

Your ideas are intriguing to me, and I wish to subscribe to your newsletter!
Glad you like it! If you want to learn more about Goodnik and what we do to support social entrepreneurs, visit . You can even sign up for our newsletter there. If you have other questions or suggestions, feel free to drop a note to nate@goodnik.org.