First off I would like to thank the 11 people who decided to follow me. Honestly I was kind of on the fence about continuing my blog but now I feel like writing these post is something worth doing. Hopefully my followers will grow with every new post. I would also like to think everyone for the 399 views and 22 likes on my last post.
Coin app gives free XYO coins but is it worth it???
Disclaimer: no matter what I never do the paid subscription in these apps. If I'm paying for a subscription than I'm no longer getting cryptocurrency for FREE and that defeats the purpose.
Today I want to talk about the very first app I used to earn free cryptocurrency. I started the app COIN back in December 2020 and so far it has been the best paying app and has paid out better than all the others combined. Now I'm not going to go over every little detail of this app. I really just want to let everyone know about my personal experience, all the things I did right and all the things I did wrong.
Coin is an app that pays you cryptocurrency so they can track your geographic location data. One of the drawbacks on this app is that you do have to keep it opened to keep earning. Any time that you completely exit out of the app you are not earning. It does allow you to earn background rewards (not exiting out but minimizing the app) for 3 hours at a lesser rate but once the time is up you have to open the app back up and run it to replenish your background rewards time. The fastest way to earn coins is by taken the surveys. In my experience after a while the surveys will stop working and will only give 20 coins for a partial survey reward. They give a daily holding reward and a weekly bonus reward. They also have a referral reward were you can share your referral link with others. Honestly the referral reward is so small that its not worth going out of your way to get. You can make more by being disqualified from 1 survey a day than you will ever make from referrals.
The Coin app gives you XYO coins (not to be confused with XYO tokens) as the in app reward that you can exchange for multiple things include cryptocurrency, gaming systems, and sweepstakes entries. You can make your first redemption after you receive 10,000 XYO coins (50,000 XYO coins minimum after the 1st withdraw). In my opinion you will receive the best value for your XYO coins by redeeming them for XYO tokens that you hold in an outside wallet and they do have a real value that you can exchange however you see fit.
After I reached 10,000 XYO coins I wasn't sure if or how I wanted to redeem them. Around this time I had a "crypto expert" reach out to me through the app and I joined one of his pages to receive advice on not only XYO but all cryptocurrency in general. He was the one who introduced me to Publish0x so for that I am very grateful. I'm purposely not using his name because in one of his post he gave his followers some of the worst advice on XYO coins that I have seen to this day. He suggested that the XYO coins were far more valuable than the XYO tokens. He said that you should collect the XYO coins until you get enough to redeem for a Nintendo Switch (655,420 XYO coins) or something similar. He said that the XYO tokens were basically worthless and you should never redeem your XYO coins for them.Well his advice didn't sit well with me to say the least so I didn't take it. The whole reason I was doing the app was to receive FREE cryptocurrency not free electronics. So I just kept holding and building till I could figure it all out for myself.
After I reached 80,000 coins I decided that it was time to do something. XYO tokens were trading a little better than 1:1 from XYO coins (I don't remember the exact ratio). So I went ahead and redeemed the minimum of 10,000 XYO coins for 9086 XYO tokens (after gas fees) to my Trust Wallet. Those went through with no problems so I ended up redeeming another 77,000 XYO coins for 73,333 XYO tokens (after gas fees). This gave me a total of 82,419 XYO tokens in my Trust Wallet that I still hold to this day.
Here's where it gets interesting before I could even receive all the XYO tokens in my wallet the price skyrocketed. My XYO tokens were valued at $188 by the time everything settled. Since then I've seen them valued as high as $640 and as low as $320. As I'm writing this post the crypto market has had a pretty big dip overall but my XYO tokens are still valued at $362.64 (down 13.64% over the last 24 hrs). If I would have taken the advice of the "crypto expert" I would still be over 500,000 XYO coins away from redeeming for a Nintendo Switch that I can buy online for $200. Also as I'm writing this post the value of the XYO tokens are up so now when you redeem 50,000 XYO coins you will receive only 2854 XYO tokens (17,000 XYO coins in gas fees).
Now that I have shared with you what I did right let me share with you what I did wrong. XYO tokens are ETH based. As we all know ETH based tokens have extremely high fees right now. For me to exchange my XYO tokens in my Trust Wallet I will have to have ETH. The cheapest way to get ETH into my Trust Wallet right now is to buy it. The minimum you can buy is $50. It will cost me around $15 in ETH in fees to exchange my XYO tokens because Trust Wallet isn't an exchange but it uses Uniswap and Sushiswap instead. It will also cost me around $27 in ETH to send my XYO tokens to another wallet. What I should have done was used Kucoin instead of Trust Wallet to avoid the exchange fees but hindsight is 20/20.
If you are not already using Coin and want to sign up heres my referral link https://coin.onelink.me/ePJg/5088ae60
