For those of us enjoying the COIN app for a number of years we remember the days of high XYO per COIN count and no such thing as gas fees to redeem our coin. If you are not familiar with the COIN app, please review it and consider signing up via this referral link: https://coin.onelink.me/ePJg/ab04e019 and start mining crypto for your geospatial data (check out my previous blog posts for a better explanation of the COIN app. If you are not familiar with the XYO ERC20 token, check out the included links to the projects, some really cool stuff going on!
On one hand, I'm glad that I'm not longer getting 25,000 XYO per 10,000 COIN since this is a measure of the exponential increase in the price of the XYO token since the exchange rate has remained 10,000 COIN per roughly 5.00 USD XYO. Then enter the gas fees! If you are familiar with XYO, the token runs on the Ethereum (ETH) network and we all know what has happened with transaction fees (gas) over the last year. I know that Ethereum 2.0 is supposed to help that but most of us are tired of waiting! We went from no gas fees to as high as 20,000+ coin (read that as 10.00 USD or more) to exchange 50,000 COIN to XYO tokens! Many of us just decided to hodl our tokens or exchange them for XYO merch or other offering through the COIN app (from BTC to Fitbits) as the return was greater.
As promised by the XYO team, there is now a solution! As of earlier this week, a new function was added to the COIN app that allows you to exchange COINs to XYO with no gas fees (read that as 0 gas) when exchanging to Coinbase. Now we have a way to exchange the full amount of COIN to XYO! And if you are not an XYO hodler (not sure why you wouldn't be as we move into 2022), you can exchange XYO for any of the listed Cryptos on Coinbase for free as well!
Anyway, hope everyone had a great Christmas and start to the New Year! As always, this is not financial advise of any kind. Things are looking really promising for the XYO family this year and I like keeping folks informed. Please consider using my referral link to the COIN app if you are not currently mining and Thanks for reading and following along!
