XYO strikes me as one of those companies that will either be big or be a complete bust. It's a matter of how certain new technologies, including blockchain, evolve as to whether or not there will be sufficient demand for what XYO is creating. XYO collects geospatial location data they hope companies will want to use for all kinds of purposes such as confirming deliveries.
Imagine your vehicle being equipped with a bit of hard/software with a crypto wallet. Your car is parked outside your apartment building when your neighbor has a package delivered by UPS. The package has a tiny tracking device on it. The device in your car picks up the signal from the tracking device and records its location. In turn, your crypto wallet automatically receives a micro tip in the form of cryptocurrency in exchange for validating the package's location. Or your car has cameras on it capable of identifying the location of potholes on city streets, or the traffic condition--even road conditions in snowy weather. It then can automatically send this info to the relevant authorities. In return, you again get a small automatic reward in your crypto wallet. This last example actually comes from IOTA and its partnership with Jaguar, but is relevant to what XYO is working on.
XYO's Sentinel Device
This is part of what XYO is aiming to achieve with its geospatial data collecting. And they want your help collecting it, a process they call Geomining. I've been doing it for a few weeks now and it's pretty simple. Basically you install this app on your phone and you pay $13 for them to ship you a little, attractively designed device called a Sentinel you can attach to your keychain. The Sentinel and the app work together to collect the geospatial location data for XYO network. In turn you collect Coin token, which can then be exchanged for XYO (no idea why they've opted to use two tokens!). It works best for people who drive, bus, or otherwise generally move around or travel a lot. The more you do, the more Coin you will earn. The app does need to be open for it to be collecting Coin. I almost got a Sentinel back in February as I'm a sucker for crypto earning opportunities, especially ones you can incorporate into every day life. I recently finally got around to getting one, and now wish I'd taken the plunge in February as I think I will easily get my money back and then earn a decent bit as long as XYO doesn't go bust before the next bull run. They've also recently introduced an ad faucet which pays you a decent bit of Coin for watching a simple ad from time to time, which is nice since I don't tend to drive or travel a lot.
It's possible to get more involved with Geomining XYO than what I've described here, but there is no need to get deeper into it unless you want to and have that much faith in the company. (You can buy a GeoMining Kit, for example, which is much more involved than what I've described above. You then could gift Sentinels to friends and family and earn a share of their Coin.)
You can use the app without the Sentinel but you won't earn enough Coin for it to be worth it. If you move around or travel a lot, you may or may not enjoy the sort of game-ified experience of the Coin App's way of collecting data. If you don't move around much, I'd say don't bother unless, like me, you're just a sucker for 'toys' like this, or you just believe in what XY/Persistent is doing (I won't pretend to fully understand it myself, and I did read and watch a fair bit of material about it).
First you would download the Coin app here, (they give you 1000 XYO to start, on Android at least) then get a Sentinel shipped to you for $13 here
You can cash out your Coin for XYO tokens when you reach a 10,000 Coin balance (you'll get 23,000 XYO). You can also cash out for ETH and Bitcoin, but the minimum amount of Coin to cash out for these is huge, and it also doesn't make much sense the way they've arranged it RE: the Coin to ETH/BTC ratio--it's just a far better value to cash out for XYO.
To give you an idea, without having any referrals, and without traveling or driving much, I've earned 10,000 coin in roughly three months. You'll definitely do better than that if you move around a lot and/or get a couple referrals.
