In this cryptoverse era earning money become so much easy as we could'nt have imagined. Ever thought of earning crypto just for traveling as we do for our daily task. Yes! with the Geocash app we can easy earn the GEODB crypto just for walking or traveling like we do normaly. Forget everything this doesnt require any technical knowledge but one have to just install the geocash app from either the apple store or google play and create its account and start earning crypto just by accompanying your devices along with you. so the only thing you need to remember is to carry your device along with you wherever you go. But what is wallace wallet? is it just a crypto wallet or some thing to do with the Geocash app. Lets find it out.
What is Wallace wallet?
Just like others normal crypto wallet wallace is also a crypto wallet where users can either trade, sell, receive crypto acting as a software wallet. But the only thing that differentiate wallace from other crypto wallet is its in-app potential to earn crypto just for using the app. Yes! you hear it right just for installing and using the wallet you will be paid every time you accompanied your device along with you. which is quite the same as geocash app. using wallace wallet users will be paid unlimited GEOs base on their activities.
Similarities between geocash and wallace
Both Geocash and wallace are offered by GeoDB Blockchain Limited . Hence the reward for using the app is the GeoDB token.User can also import their geocash wallet key to wallace wallet and earn Geos. They introduced a tier system where user can earn GeoDB token according to the tier they are enjoying. In order to be qualified for each tier system user need to hold certain amount of GeoDB Token. for example in case of wallace wallet there is FOUR tier system depending on the amount of GeoDB token or GEOs you hold inside the wallet
- Tier 1: 0-1000 GEOs
- Tier 2: 1001- 5000 GEOs
- Tier 3: 5001-20000 GEOs
- Tier 4: 20001 and more GEOs
Besides there is also a referral system. where user can earn more GEOs just by referring other. Here is also my wallace invite code hem123_b2630
The simple concept behind this mechanism is the more you hold the more you earn. Hence the main Similarities is regarding the reward feature where user can earn GEOs just for using the app. Right now i am in tier 3 holding more a few 5k GEOs inside my wallace wallet.
what are those activities where we can earn GEOs inside the wallace wallet?
Till now wallace provide three ways where user can earn GEOs for their activities
1) By sharing Data
Just like in case of Geocash app users are rewarded just for anonymously sharing their data. One important thing to be noted regarding sharing data and earning is that user are rewarded only when they accompany the device and move constantly. Hence earning is more while in traveling or walking and earning will be reduced if we don't move and remain ideal.
2) Multi layer reward system
where ever the other person the user had referred generate or claim their data reward a 1% of their reward value is distributed
3)playing games and referral
earning reward by playing wallace game is still under development but it is expected to launch very soon. users can also earn more by referring friends.
what makes wallace special and unique?
As mentioned above the reward system where users are rewarded or paid in GEOs just for using the wallet is one of the unique feature that differentiate wallace from other crypto wallet. Till now there is no staking feature available inside the app but hoping to see those feature in days to come. in order to earn the reward user need not hold any GEOs inside the wallet. But the only thing is that it will place the user in tier 1 with low and limited earning opportunity.
Another unique feature about wallace is its multichain feature where users are allowed to operate under different popular blockchain with different wallet and account. Wallace provide there popular blockchain network namely Binance(BSC), Polygon(Matic) and Ethereum. Soon BTC chain and COSMOs network are expected to be added. Besides the wallet also have its own in-app swap feature under the different blockchain network and allow user to swap to other popular crypto like usdt, tron, ltc, xrp, dogecoin etc.
How to claim the GEOs Reward under wallace?
Once the wallet is installed and an account is created users need to fulfill four necessary requirement
- 1)Generate more than 5GEOs
- 2)Need to be more than 1 week of using the wallet
- 3)Should be at tier two or more
- 4)Cannot be blacklisted
Beside in order to claim the reward user need to hold some Matic inside the wallet in order to pay for the gas fee.
Will it replace Geocash?
After the launch of Mainnet and bridge from ethereum to BSC network and recently due to an attack under bsc network geocash is still under maintenance by the time of writing this article . Hence the reward system is still pause . But still we can earn GEOs sharing data under wallace wallet. Also after the attack on BSC network the wallace team had halted and invalid all GEOs under BSC network and latter airdrop the halted GEOs under the Polygon network making wallace more stable . Hence comparing the reward facilities provided by the wallace and also its other inapp wallet feature like swaping, buying , exchange which make wallace more user friendly. Hopefully wallace might overcome geocash app and attract more users in days to come.