Well, millions of Coin token that is. I make no apologies for the clickbait. It's not the worst thing I've done today.
This post is going to be about XYO and Coin. They are two separate things, but they are closely related. I've made some decent money off these cryptos. I'm going to be dropping affiliate links here so this review is certainly biased. However I will discuss some of the downsides of XYO and some of the red flags that I've seen.
I'll start by giving you a little history of XYO, and a brief overview of what it is. Then I'll get into the Coin App and how you can earn Coin and later convert that Coin to XYO tokens for future profits (I hope). I'll tell you how I'm using Coin and XYO myself. Then we'll finish up with some miscellaneous items you may want to check out, but you're free not to.
It all started in 2018
XYO had a rough start. They launched their ERC-20 coin $XYO at the very tail end of the great 2017 shitcoin waterfall and ICO extravaganza. They launched in January 2018 when feelings were high, but within weeks it became clear that the market was collapsing. Many people who bought into the ICO thinking they'd be lamboing and mooning for the rest of their lives saw their initial investment lose massive value immediately. XYO got a lot of hate right out of the gate for that.
I remember this well because I myself am a "Founding HODLer" with XYO. I got in very early on this project. I didn't get angry like some of the others. I didn't expect to profit within a few weeks. I was hoping for profit within a few years.
They had a guy working for them in those early days who was one of those guru online marketers that made money selling courses to 20 year old men on how to get rich online. There was some shady marketing at first that made many think that XYO was a scam. I even thought XYO might be a scam myself for a time. However, XYO has stuck around, and kept building. They had a rough launch but I am fully satisfied that XYO is not a scam.
The Coin App was launched in 2019. I'll be talking more about Coin below, but for now just know that it's a way to earn XYO on your smartphone.
There are currently 13,931,000,000 XYO tokens. It has all been "mined." Over 1,000,000,000 of those tokens are held by XY Labs for rewards and developers. XYO is not planning to create any more tokens.
I got all this token data from CoinGecko where you can go to get an updated price.
XYO trades on Uniswap, Coinbase, and KuKoin. *** Coinbase and KuCoin links here are affiliate links.
Coinbase provides a very cheap method for withdrawing XYO from the Coin App. If you go straight to a wallet when Ethereum gas fees are high you could be paying more in gas than you're getting in XYO. I also recommend that you have at least 250,000 Coin before you bother with withdrawal. Smaller amounts of withdrawals can get you eaten alive by the fees.
So What Does XYO Do?
XYO is an oracle network for location data. The most obvious use case is that of package tracking. If a package is shipped with an XYO sentinel on it, then UPS and their end customer could both track the package through a neutral third party, the XYO network.
There are many other potential applications but this is the premiere app. The XYO network is currently trying to attract developers to build dapps that make use of their treasure trove of location data.
The biggest red flag to me was watching XYO early on jump on the Covid insanity and try to get governments to use their network to do orwellian contact tracing. Not cool XYO. Not cool.
So How Does XYO Work?
XYO data is initially produced by a sentinel. The most common sentinel at this time is peoples' smartphones running the Coin App. When a sentinel makes contact with another sentinel, verifying the location data, they create a bound witness. The bound witness data is then relayed through a bridge to an archivist. The archivist encrypts and stores the data. Then a diviner can access the data to provide useful information for a customer.
For more details on how XYO works and to read their white paper etc, go here:
The XYO network is open source and kinda decentralized. It is however closely watched over by XY Labs. A company headed by Mr. Arie Trouw and headquartered in San Diego, CA.
More on XY Labs here:
An interesting thing about XY Labs is that you can trade their stock on tZERO.
More on that here:
https://medium.com/xyonetwork/happening-now-trade-shares-of-xy-labs-on-tzero-ats-3d36a986476f
And Now For Some Coin
By far the most useful part of the XYO network is the Coin App. I've been coining around since the app was launched in 2019. I've gathered up millions of Coin and transferred it into millions of XYO. The fun part was in early 2020. I lost hope in XYO. I sold all of my XYO for approximately $300 worth of $ETH. Less than one month later the price of XYO rocketed upwards during the first big 2020 crypto boom and that XYO I sold for $300 could have been sold for $100,000 if I'd waited just one more month. Don't give in to FUD folks. If you give into FUD, you look like me, foolish.
What Does The Coin App Do?
Basically with the Coin App you are selling your cell phone's location data to the XYO network in return for some tokens. If you are extremely concerned with privacy, you shouldn't do this. Of course, if you are extremely concerned with privacy, you shouldn't have a cell phone. Think about it. The NSA is using your location data all the time but they don't pay you doodley squat.
The Coin App doesn't run in the background so you need to keep it running to earn Coin. This is a common complaint from people concerned with their screen life and battery life. It's been worth it for me, but you have to be really into it to make any interesting amount of money.
You can get the Coin App for free on iOS or Android devices. The thing is, with the free version you do not make very much Coin at all.
Plans
Coin Basic is free but makes the least amount of Coin per hour.
Coin Plus is $24.95 a month and makes more Coin per hour.
Coin Pro is $34.95 a month and makes even MORE Coin per hour. This is the best plan if you are serious about Coin.
There is another secret plan called "Master." A Master plan is by invite only and costs around $80 a month but man, it stacks up Coin really fast.
I would be honored if you would download the Coin App on your smartphone using my affiliate link below so that I can profit off your labor like the grand capitalist I am. This link only works on a mobile device,
Coin Affiliate Link
https://coin.onelink.me/ePJg/908ac4ct
My completely unprofessional and unregulated financial advice to you is to try the free plan for a while before you buy anything. I've gotten many people to try Coin and most don't like it. A few do. If you dear reader are like most people, you will download Coin, use it for a day, and never open it again. You don't want to be paying for something you'll use for just a day or two and then forget about.
The Coin App has some outstanding built in tutorials that will help you get started and quickly learn how to make the most Coin for your time.
The best way to make Coin quickly is have the app running as you're driving or walking around. Motion generates the most Coin. Here is a video from The Rideshare Guy on how to use Coin to make a little extra money while doing your gig work.
Coin Paraphernalia
There are some tools you can buy to earn more Coin faster. The SentinelX BLE or the SentinelX NFC. They will both significantly boost your Coin geomining results. The BLE is a little awkward because it requires a battery change from time to time and the batteries are not normal.
Seeing the prices on these makes my eyes water. I remember when Coin was giving them away for free. I guess since they are now charging that is a good sign because it means their marketing has reached a point where people want in bad enough to pay to get in.
Don't even think about buying these unless you've been geomining for a while and are sure you are going to stick with it.
Wen Lambo? Wen Moon?
The thing you will quickly realize as you start Coining is that you don't make very much at all in dollar terms at current Biden economy prices. So why do this at all? I can't promise you anything, but here is my strategy and my hope.
Geomine
I run Coin on my phone as much as I can. If you're lucky you get a few big geomines in a day and the Coin stacks up fast. Truck drivers are using this app to make decent money. You have a serious advantage if you're driving 700 miles a day.
Surveys And Special Offers
Coin has some in app surveys that can pay BIG. Do a survey a day for an extra 500 to 1,000 Coin. The real Coin money is in the special offers. Some offers pay out 50,000 Coin just for signing up for a service of some kind. It's obviously not worth it if you don't want that service, but check it out. If there is something in there you want anyway and you get 50,000 Coin for doing it, why not?
Maximize HODL Rewards
The Coin App incentivizes hodling Coin. If you register your wallet with the Coin app it will reward you daily for holding XYO in your wallet, XYO in Uniswap, and mostly Coin on the app. Since the price of XYO is currently in the dump, and Coin is a stable coin of sorts, I'm keeping all the Coin I earn on the app to maximize HODL rewards. Once I get to 2 million Coin, I'm going to trade 1 million Coin for XYO hopefully while prices are still in the dumper to get the maximum amount of XYO. Then we wait.
Provide Liquidity On Uniswap
When you've got a significant amount of XYO, you can pair it with an equal amount of Ethereum, and then earn fees by providing liquidity on Uniswap. This is a complex process and not for beginners, but it's also not that tough to figure out. It's just not worth it though unless you've got a good big stack of coins.
The Next Crypto Bull Is Mine Baby!
I held onto millions of XYO and sold just one month too early to make any money. I KNOW we will get another crypto bull run someday, and I KNOW XYO will pump again at least one more time. I'm just stacking XYO until that day. Once that day comes, when we see a giant pump in XYO prices, I'll be ready and will dump almost my entire stack on that bubble market and laugh all the way to the bank.
But I kinda like XYO so I'll probably save some of my winnings and buy back in during the next bear market crash.
Extras
As you use Coin you will find that you can make extra Coin by looking at ads. Once you've got some Coin stacked up, you yourself can advertise with Coin Boss. It's a fun little ad platform and may be a great way to spend your coin if you have a business or cause you want to promote.
Coin Boss:
XYO World:
I tried to jump on XYO world when it was launched, but there were some kinks back then that frustrated me and I never went back to it. It's a way to earn more XYO by claiming a portion of the earth through auction. It might be worth looking into, but it seemed like a blatant attempt to capitalize on the NFT craze to me. If you get into it, please let me know if you think I should look at it again.
Conclusion
This was a long post, but I really just skimmed over the main points of XYO and Coin. There's a lot to XYO and Coin. This cryptocurrency is certainly worth a look. They've withstood more than one bear market and I think they are primed for great success in the next bull market, whenever that gets here.