What is the difference between “Redeem Points Conversion” and “Per $ Points Conversion”

1) Redeem Points Conversion: In this setting, merchants can set the amount for converting reward points to generate the coupon. For example, if you have set 1 point = 1$ and if any user has 50 points then he/she will get the coupon amount of $50 after converting it from the “My Account” section.

2) About Per $ Points Conversion: If a Merchant has set the $1 = 1point and any customer will purchase any product with 50$ then he/she will be rewarded with 50 points.