Coin App and geomining is an interesting way to collect personal information from using your location. This information appears to be collected by the company in exchange for XYO tokens. When I first started using the app for free, I thought it would not amount to much. The Tokens two years ago did not have any significant value. Well under a penny and reminded me of where Shibu Inu is at today. The value of $XYO is not at about $0.03. All those using the app cannot cash out or move their $XYO off the app until they accumulate over 10,000 tokens which now has a value of $300. With the recent listing on Coinbase, the price seemed to jump. Will the price stay at or above $0.03…Possibly. The use case for the token from an individual standpoint can assist in collecting information where you geomine when traveling across town, sitting at home, or when on a trip for vacation or business. If I were a truck driver or someone who travels for work, I could see how the Coin App can generate lots of $XYO reward tokens. You have to remember to turn on the app while diving and not interfere with it while it collects data.
I have intermittently used the Coin App while traveling in my vehicle for various trips but have not diligently used the app till recently when I say the value of the coin increased. I am currently over 6,000 coins and hope to diligently work towards gaining over 10,000. I have not paid for these tokens with any of my personal money, but have given the XY company access to all my digital location data that is collected by the Coin app. If you are interested in geomining and do not have a problem sharing your data and getting rewarded for it then this is an app you may want to consider. Here is a link to download the Coin App to start Geomining while you explore the world https://coin.onelink.me/ePJg/7b733d19.
Digging a bit deeper into the Coin App, you can receive a free sentinel for a short time. I had to buy my sentinel, which was $12 for a Hexagon chip that allows you to mine and receive more $XYO coins as a reward. I believe it produces 2-4 times more rewards with the token when compared to not using the Sentinel. If you want to spend some of your tokens, you can create geodrops, spend additional fiat money on monthly subscriptions that will increase your speed and rewards for geomining. Recommend you try the free version first. If the value of the $XYO token increases then there may be a significant return on the investment for the monthly subscription. Other ways to earn $XYO on the app is by taking surveys, watching video advertisements, or engaging in extra activities. I would compare the Coin App to Geocaching without the rewards of $XYO.
Some use cases for the XYO network could be for tracking lost luggage at the airport or tracking the locations of rental cars. Currently, the network does not appear to have many users on the network. The concept for XYO seems to have utility, is decentralized, and may provide a greater use case in the future if more people or institutions adopt the technology.
This article is for information purposes only and is not intended to be financial advice. The views within this content are from my own experiences with the app. I hope to provide a follow up article on when I reach the 10,000 coin amount to transfer to my wallet. I do plan to hold onto the coins because I find this project interesting and uniquely different from others in the cryptoverse.
