[Important!] I think I'll change my Patreon page currency to Euros (Patreon)

Hey there,

Another thought process that came up when I thought about my Patreon being my major source of income. Exchanges rates weren't all over the place back then and the Euro was almost as strong as the Dollar. Unfortunately of the course of many months this exchange rate continues to drop which makes it harder and harder to calculate the amount of money I get out of Patreon. Coversion fees are also another topic I want to avoid with that change.

I was happy that Patreon integrated different currencies when they first announced it but I never thought about using that feature myself. Most likely because I always tend to fear angering any current or future Patrons because they might have to pay more.

The good thing is: Patrons who are already supporting me don't see any changes but can decide to change their currency to Euros as well (when they are from Europe to avoid additional fees)

The fact that my current supporters don't see any changes makes me feel at ease with changing the currency just to make it easier for me...and well also to avoid fees coming up after I receive a dollar payment.

For the next part I just copy a portion from the info-post template they provide in the "changing currency" section, yeah...they have templates:

To avoid any additional conversion fees for the both of us, I suggest that those of you based in Europe also change to your local currency. For those of you who would like to switch your currency you can follow these steps:

1. On Patreon.com, hover over your avatar in the top right of your screen.
2. Click Manage memberships.
3. Find this page, and click Edit.
4. Under Currency, choose your preferred currency.
5. Click Update to save your settings.

For those of you outside of Europe, you can also change to pay in your currency of choice (where supported: Patreon's supported currencies)  which will help you avoid foreign transaction fees. (in case you didn't know already)

So how will the prices change?

...I hear you ask. I was tempted to do a 1:1 coversion of the prices until I calculated through them. Of course lower tiers wouldn't change as much because it always starts to hurt when the amount gets higher. I thought about averaging out the exchange rate over the year 2020 and base the prices on that. Because the current one is pretty low (1€ = 0,81$) which makes the incredible 700$ you support me with turn into 569,87€.

So there are two options. Going for a 1:1 approach, or going for the average exchange rate I calculated which would be: 1€ = 0,89$. Because I want you to speak your mind and vote on that matter to see what the general consensus is I will let this post sit for a while. No need to change anything yet but I will apply the change before we hit January 1st.

Quick table of both approaches (keep in mind that these prices only affect new Patrons)

Approach 1: 1:1

Dollar prices behind the Euro price based on the current exchange rate

WIP Tier 2$ → 2€ = 2,46$

Generous WIP Tier 3$ → 3€ = 3,69$

Poll Tier 4$ → 4€ = 4,91$

Generous Poll Tier 5$ → 5€ = 6,14$

Sketch Tier 7$ → 7€ = 8,60$

Sequence Tier 15$ → 15€ = 18,43$

Incredible Supporters 20$ →  20€ = 24,57$

Approach 2: 1€ = 0,89$

WIP Tier 2$ → 2,22$

Generous WIP Tier 3$ → 3,33$

Poll Tier 4$ → 4,44$

Generous Poll Tier 5$ → 5,55$

Sketch Tier 7$ → 7,77$

Sequence Tier 15$ → 16,65$

Incredible Supporters 20$ → 22,20$

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Well, that certainly was a wall of text. Another one of these "full-transparancy" posts because I don't want to change the currency without telling you.

This is also kinda huge because I can't change anything currency related for 6 months after I made the change.

Have a nice day,

Aron