What up crypto fam. I don't like to waste time with my articles so let's get to it. If you don't have the time to read this article then let me break it down for you: COIN mobile app gives you small amounts of crypto when you move around, have the app open, and mine/validate geospatial location data. This app is the most beneficial if you do a lot of travelling but there are also other ways to earn rewards for those who are stationary.
https://coin.onelink.me/ePJg/523cb1f0
Introduction
The COIN mobile app is partners with the XYO Foundation.
The COIN tokens themselves have no direct cryptocurrency value. You can trade them in the app for various items including new electronics, clothes, BTC, ETH, and the ERC-20 XYO Network Token.
Here is a list of all the ways a person can earn COIN by using this app at the current time that I am writing this article. Every two or three weeks the COIN team add another feature or make another update to the app so it is constantly improving.
1. Geomining Locations. You move around (walk, bike, drive, etc.), with the app open and the mining feature on "Auto-Collect", and every time your app mines a new tile on the map you get coins.
2. Collecting coins in the background. Everytime you open the app you collect background coins that were being mined on your phone WITHOUT having the app open or doing anything. This amount is obviously very small but better than nothing for sure and a nice feature.
3. Geoclaiming. I have not tried this feature but here is how it works: You own a percentage of an area for a period of time and when other people mine within that area you receive a portion of their rewards. I believe at most you can earn up to 10% of all rewards given out in your area and the time periods are 7 day cycles running Mon-Sun.
4. Witness Big Geomines. People all over the world are using this app so when someone mines a very large tile that event shows up on the home page and you can "witness" that box being opened and get rewarded. If you are one of the first 200 people to witness this happening you earn coins. The closer you are to being the first witness the more coins you get. At busy times you have to click the checkmark button within the first 5-10 seconds to be in the first 200.
5. Witness Big Geomines Daily Prize. If you're not one of the first 200 witnesses for Big Geomines you can still benefit. This is a daily draw where everyone who "witnessed" a big geomine gets put into a pool and the randomly chosen winner gets the total number of Big Geomines in COIN tokens at the end of the day UTC. For example if there were 1000 big geomines that day, the winner would receive 1000 COINS. The more big geomines you witness, the more times your name is put in the hat = higher odds of winning the total pot. Literally hundreds of people witness each big geomine so good luck winning this one.
6. Weekly Bonus. Literally every seven days you get rewarded with COIN. So far for me I have received about 100 coins every seven days from this bonus. The 7 days start on the day that you first signed up for the app, and you need to use the app at least once every 7 days in order to receive this reward. Make it rain baby.
7. Home Base. I just discovered this one as I was writing this article. If you mine the same tile 3 times in a row, an automatic square area gets put around you that seems to be about 3x3. Here it is as the app tells it: "When you Geomine within your Home Base you will earn at least a 10% boost and for each consecutive hour you are in it, you will add an additional 10% to this boost (up to 100%). So for people like me who spend a lot of time at home this new feature is pretty exciting and very appreciated. Props to the team for always rolling out new features.
8. HODL Rewards. Jesus Christ I didn't know they had so many different ways to earn rewards until I started writing this article. If you hold any amount of COIN in your app wallet, you get rewarded. You can collect your hodl rewards based on how many coins you are in your wallet on a daily basis. Essentially it's like staking rewards.
Bonus #1. Geodropping. You can drop geoboxes on tiles that might later be opened by someone else who goes and mines it. At least 10 coins are required to deploy a geodrop for someone else to find. This is included as a bonus because when you deploy a geodrop you can include a message that will only be seen once the person opens the box. A lot of people choose to put other crypto-related referral links in this message as another way of potentially profiting from it.
Bonus #2. Buy a Sentinel. This item essentially helps XYO to verify your location data therefore you get more COIN rewards if you have one and connect it to the app while you are geomining. In my opinion using a Sentinel is paramount to getting the most from the COIN mobile app. It literally increases your rewards by up to 12x. You can get one for free with this link and it is not a referral link. All you have to do is pay for shipping so essentially it costs you $25 tops depending on your native currency. In my opinion there is almost no sense in using this app without a sentinel.
Bonus #3. Memberships. I personally use the Basic plan which is free. The Plus and Pro memberships cost money but they also increase your rewards quite a lot. For example the Pro membership you get 3x geomining speed, 12x geomining rewards with and without a Sentinel, and you also get 3x bonus rewards. At the time of writing this the Plus and Pro memberships are $25 and $35 per month respectively. I cannot say whether or not these plans are worth the extra money. But if you travel a lot for work or something, it just might be a way to really ramp up your earning potential with the app.
*Background photo by Alex Perz. Logo added by me.*
My Experience
I have been using the COIN mobile app for several months now. I absolutely love the idea but I have not been travelling very much this winter so my ability to rack up the coins has been lacking.
I have a total of roughly 2700 coins as of right now. This is not very much considering I had a sign-up bonus of 1000. Which you will also get if you sign up using my referral link. Quite often without the Sentinel I get around 0.03 coins per tile and when I use the Sentinel I average close to 2.8 coins per tile mined.
Everytime I leave the house I try to remember to bring my Sentinel and turn the app on so that I can get some rewards for something as simple as driving to the grocery store. The app does have to be open on your phone screen in order to mine tiles. Sometimes with my phone in my pocket I accidentally turn off the screen which stops the mining so keep that in mind.
Naturally the app uses cell phone data in order to mine so take that into consideration when assessing whether or not it will be worth it to you. I should note that it uses very little data in my experience.
Initially it was rather difficult for me to connect my Sentinel to the app so here is how you do that: turn on your phone's bluetooth (it doesn't have to connect to any device specifically), download and open the XYO Network mobile app (optional - if needed), make sure the "Sentinel" is running, then open the COIN app, wait a few seconds and if the sentinel icon doesn't appear on the left side, click the button on the sentinel which will make a sound, and then it should connect right away.
Once I finally figured out how to set up the Sentinel, the app was very easy to use and fairly straight-forward. Sometimes, however, I have found that the direction of the interface with the map isn't necessarily 100% accurate. Sometimes it will be pointing west when I'm driving east etc. Definitely not a big deal but worth mentioning.
I have not done anything with my COINS in terms of withdrawals or trades so I cannot speak on that subject. The withdrawal minimum is 10,000 coins.
Like I mentioned above, I have not tried any of the paid membership options. Right now I simply do not travel/move around enough to warrant the price.
The few times I contacted their support for help with setting up the Sentinel their team was very quick in responding.
Conclusion
I am a huge fan of the COIN mobile app. People who walk around a lot, go for runs, hikes, and travel for work will definitely benefit the most from this app. The more you move the more rewards you get.
The app is very easy to use, has a great design, and I personally think it has a very high potential for long-term success. It's literally rewarding people for something that they already do. And since everyone has a cell phone these days, the barrier to entry is practically non-existent which will only help to foster adoption over time.
If you're into cryptocurrency and you're not using this mobile app, you should be. It's as simple as that.
Thank you for reading. I welcome and appreciate all kinds of feedback.
https://coin.onelink.me/ePJg/523cb1f0
*Full Disclosure: This is a referral link. If you sign up via this link, it will not cost you anything - it will only benefit me slightly as the person who potentially introduced you to the app. Obviously it would be appreciated.*
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