I explored this opportunity a few years ago when first entering the crypto market and found it be a valuable introduction to the space. Whilst there are far more evolved and sophisticated concepts being discussed on this platform, for someone new to the space, its a good entry point.

The COIN App is a mobile phone app that allows users to earn COIN, it’s in app token by simply driving around with the app installed on their phone. This can be redeemed for XYO (XY Oracle Network) a decentralized, trustless protocol that enables the creation of a blockchain-based location verification system.

Users can choose to accumulate COIN within the app and receive HODL rewards or redeem for XYO when a certain threshold is met. This can be stored in a crypto wallet or sold on an exchange like Coinbase or Kucoin and converted to fiat currency.

Sounds complicated? It is a little if you’re new to crypto but it’s not hard to set up.

There are various ways users can earn XYO such taking surveys, trying new products and participating in market research, however the Drive to Earn program is the one that provides the greatest opportunity, especially for people who spend a lot of time driving for work, leisure or otherwise.

The app tracks the user’s location and distance travelled, and users can earn COIN based on distance driven. The specific amount of COIN that can be earned can vary depending on factors such as the user’s location and the time of day.

This enables one of the key features of XYO, its ability to validate location data. The XYO network consists of a network of devices such as smartphones or GPS units that continuously gather location data and cryptographically sign it. This location data is then broadcast to the XYO network, where it is stored on the blockchain and used to create a verifiable record of the device’s location at a specific time.

The use of cryptographic signatures and the decentralized nature of the XYO network make it difficult for location data to be changed or falsified. This makes XYO an appealing solution for industries that rely on accurate location data, such as logistics and transportation.

Subscriptions

The COIN App offers a number of different options that cater to each individual.

The Basic (free) subscription enables users to start experiencing the app and begin accumulating COIN/XYO. When they become more familiar with the platform and it’s various features, it provides an opportunity to create a consistent, passive income stream.

Minimal interaction is required day to day, other than logging into activate certain features or redeem bonuses. Understanding these and other functions, allow Basic subscribers to take full advantage of the platform and explore its earning opportunities.

For those who spend a lot of time on the road, travelling to and from work or as part of their job, one of the paid subscriptions can be profitable in the short and long term.

The PLUS subscription, at a cost of US$24.95 per month, provides a 24x boost on Geomining rewards as well as many other benefits that increase earning capacity.

For US$34.95, the PRO subscription is more powerful, delivering a 36x Geomining rewards as well as a further boost on other rewards and bonuses.

Alternatively, users can also use extension devices to increase the earning capacity of their free or paid subscription.

The SentinelX NFC can be purchased for US$49.00, however at the time of writing this article in January 2023, it is free (users pay shipping)

This slim credit card shaped device helps XYO verify the authenticity of location data. It does needs to be scanned every 4 hours but boosts Geomining rewards by 12x or a 10% boost on a Basic subscription.

The SentinelX BLE is a simple keychain Bluetooth device that can travel with you anywhere. Like the NFC, it boosts Geomining rewards 12x or 10% boost on a Basic subscription.

Other Benefits

For me personally, the Drive to Earn feature is the main feature of the platform, however many people utilise other earning opportunities such as surveys, rewarded tasks, audio ads and mini games. The returns can be worthwhile if people invest the time.

In addition, COIN App also has a referral program that allows users to earn a percentage of the XYO earned by individuals they refer to the platform.

My Experience

I’ve used the Basic and Pro subscriptions and have found them both to be beneficial. I have switched between the two, depending on my circumstances and the market conditions.

I was a PRO user for 12 months during a period when XYO was closer to its all-time high and I was driving a lot more for work and on weekends.

The COIN I was able to earn and redeem for XYO was well in excess of subscription costs. On a monthly basis, I would sell enough XYO to cover the subscription and would hold the remaining amount.

For reference, my numbers are small compared to some users. This platform has wide adoption in the transport industry, or roles where people and continuously driving. From reading forums and viewing leader boards in the platform, my COIN numbers were meagre in comparison.

I now primarily work from home and don’t have the opportunity to take full advantage of the Drive to Earn feature so instead, I use the Basic subscription with the SentinelX NFC device which boosts Geomining rewards by 12x. For people who don’t want to invest in a subscription, this is a great option.

Whilst the paid subscriptions deliver higher returns, it would be below the break-even point based on the current XYO value. Whilst I believe in the project long-term and expect it to exceed it’s all-time high, this is more viable option for now.

What’s Worked For Me

Timing the market is important. The XYO price moves with the wider crypto market and I sold my holdings when I could see it starting to retrace. I re-invested those funds when the XYO price reduced to its current lows, significantly increasing my position and ROI from that initial investment in the platform.

I plan to rinse and repeat when the crypto market recovers, taking profits on the way up and in the mean-time, I will continue to accumulate XYO.

In short, my experience with the COIN App has been a positive one and profitable at all stages, however it is important that you formulate a strategy that factors in market conditions as well as your own circumstances so you can take full advantage.

For most people, the COIN App won’t make you rich but it can provide a legitimate passive income stream with minimal work required. For those who spend a lot of time on the road, it is definitely worth your consideration but understand that you may not be able to fully realise your investment until the crypto market and XYO price recovers (all-time-high is still 10x from current price and it could still continue to fluctuate).

Whist strong short-term gains are possible at different stages of the market cycle and for certain users, my experience it that it is best to form a longer-term view, accumulate, hold, read the market and wait for the right time to sell to yield the best possible return.

I hope you found this informative. If you’re interested in the learning more about the COIN App, follow this link to sign up to a Basic subscription (free) and receive a 1000 COIN bonus.

https://coin.onelink.me/ePJg/qftd1aya