There is a way to encourage users to register on your website by rewarding them with points when they sign up/social login into your site, so they can redeem these points to rewards, or discount (percentage/fixed amount/free shipping) in your Rewards & Loyalty program.

It's possible to assign a reward for those actions in the Earn points section of the Points program:

Customers can easily find the reward in the Rewards tab on your homepage:

Moreover, you're also able to select a Rewarding type as a discount or gift card in the action's setting right here:

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