Hundreds of new cryptocurrencies have sprung up in the last year with unique ideas. Kin Coin is one in particular that you should consider purchasing. Kin is a cryptocurrency designed to provide incentives through our ecosystem and provide consumers with ways to earn and spend Kin.
We take care of the merchant transaction fees, so you don’t have to, meaning you’ll get more money in your wallet than it takes to buy any product or service within our ecosystem.
What is Kin Coin?
Kin Coin is a digital currency that operates on its blockchain and is designed to facilitate transactions within digital ecosystems. Launched in 2017, Kin Coin was created by the team behind Kik, a messaging app that hawith00 million registered users.
Kin Coin’s goal was to provide a means of payment that could be used within the Kik app and other digital services, allowing users to earn and spend digital currency within the platforms they already use.
One of the key features of Kin Coin is its focus on community and user engagement. The Kin Foundation, which oversees the development and promotion of the currency, aims to create a decentralized ecosystem that is driven by user participation.
This means that Kin Coin is designed to reward users who contribute to the ecosystem’s growth, whether through creating content, participating in discussions, or inviting new users to join.
To achieve this, Kin Coin operates on a unique blockchain optimized for speed and scalability to achieve. Unlike some other blockchain-based currencies, which can be slow and expensive to use, Kin Coin transactions are designed to be fast and affordable, making it easy for users to send and receive digital currency within the ecosystem.
Step By Step Guide To Buy Kin Coin
Choose a cryptocurrency exchange:
There are several cryptocurrency exchanges where you can buy Kin Coin, but we recommend using Coinbase. Based in the United States, Coinbase is a popular worldwide exchange in 32 countries across five continents. The main benefit of using Coinbase is that it allows you to buy Bitcoin, Ethereum, and Litecoin. Using this method, you can buy Kin Coin quickly and easily.
Open an account:
Create an account with Coinbase (you can also use a Bitcoin or Ethereum wallet to fund your account). Once you’ve signed up to Coinbase, connect it to your bank account, and the funds will be instantly transferred into your account. This is how we recommend you buy Kin Coin!
Register your account:
Once you have connected your bank account to your Coinbase account, you need to verify the account through their AML and KYC (Anti-Money Laundering and Know Your Customer) process. This involves providing a few documents to confirm your identity. You can then deposit funds into your Coinbase account using funds from your connected bank.
Verify your account:
Once you have verified your Coinbase account, you must verify your mobile phone number by downloading the Coinbase app.
You’ll now be prompted to provide an SMS verification code. Enter this code when prompted, and you’ll receive a message saying your account has been verified.
Deposit funds:
You can deposit funds into your new Coinbase account when you’ve verified your bank account. Simply enter the amount of Kin Coins you wish to purchase and the price per coin.
Buy your Kin Coin!
Coinbase then converts your fiat currency (USD) into cryptocurrency (Bitcoin, Ethereum, or Litecoin) at the current market price. The cryptocurrency is then transferred to your wallet within the Coinbase exchange, which you can then use to buy Kin Coin.
If you’re interested in trading other cryptocurrencies like Ripple and Dash coin, there are several other exchanges where you can do so.
Is Kin a good investment?
Because of the high degree of volatility that characterizes the cryptocurrency market, it is essential to conduct adequate research before deciding to buy a token. Before making your purchase of KIN, please keep the following factors in mind:
- KIN’s Engine for Rewards: With the KIN Rewards Engine, KIN tokens will be given out daily as a reward to developers and digital service providers. This engine uses a calculation technique intended to determine how a user contributes to the ecosystem as a whole.
- User base: The capability of achieving widespread adoption is one of the most significant challenges that all cryptocurrencies must overcome. According to Kik’s whitepaper, the company states that 57% of its users are aged 13-24. This can be interpreted in a couple of different ways: first, younger people typically have less discretionary income, making them better suited to the micropayments system that is provided by KIN; second, younger people are typically more receptive to just using cryptocurrency and gradual platforms in general;
- Kik points. Kik conducted a study between 2014 and 2016 to determine whether or not its user base would be interested in using tokens on the platform before the launch of KIN. Even though these Kik tokens were not based on blockchain technology and could not be sold outside of the app, by the time the trial was over, up to two million Kik token transactions were taking place daily. This indicates that there is a demand for native tokens and micropayments on social media platforms, both of which will prove to be essential in terms of adoption.
- Use-case. While KIN can be used in a few applications outside the Kik platform, most KIN holders will only experience the full benefit of their purchase if they actively utilize the Kik platform. This is because KIN can only be utilized on the Kik platform. The number of new applications that are developed and use KIN as their payment system will significantly impact how successful the token is.
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