So... I got myself this COIN app. Yes, I am aware that it basically tracks my location whenever it’s on, buy hey, can’t my smartphone do it anytime it needs to anyway, with a geo-mining app or without one? If I ever need to disappear (ha-ha, I’m thinking “Breaking Bad” where they’d always break their little mobile phones after using them, but those were very primitive compared to ours) I’ll just have to abandon the whole thing completely.
Anyways, that’s how I justified installing a geo-mining app on my phone. If you don’t know what it is, here we go: it’s an app which looks like a map, and as you move around, walk, drive, your little locator dot travels from one square to the next on the map and collects various amounts of coins.
Once you reach the amount of 10 thousand, coins can be exchanged to XYO tokens, which can in turn be exchanged to BTC or whatever else you like. You can also change your coins directly to ETH (saving you time and exchange fees), but you’ll have to get 100 thousand of them, which will take much longer.
10,000 coins turned into XYO tokens equal approximately $4.70 at this point.
Is this worth using?
It depends. In order to get a sufficient amount of coins, even if you drive, bike, or commute a lot, you’ll have to pay for a premium plan ($25 or $35 per month). Otherwise I think you’ll spend a whole year getting those miserable $4 out of this thing. With a premium plan things go much faster, but then you’ll have to check for yourself if the amount you make will be more than what you spend on your subscription.
This will vary depending on how often you turn Coin app on and how much you really move around. I’d say it’s worth trying if you spend at least 2-3 hours per day driving, biking, or running.
Another way to make some profit with this thing is to get referrals. You’ll get 10% of their geo-mining. I don’t have many active referrals simply because I am lazy and I also lack the talent of selling things to people and brainwashing them into using stuff. If you are better at it than I am, you can get a 1000 active referrals and forget about active mining completely - you’ll have totally passive income just flowing into your coin app all by itself. I guess than there won’t be any need for premium plans either.
With the Coin app comes a little sentinel thingie, which is said to multiply rewards by x12. You have to pay 12 dollars for the shipment of this device which looks like a keychain tracking thing. I used coin app without it for a while, but then I got curious and ordered it. So far I don’t see any x12 rewards - my coin app screen just says I get 10% more coins whenever sentinel is in range. Maybe the rewards will come in the form of weekly bonus geodrops? Also, it turns out that I can’t turn the damn thing off! I think the only way to do it is to crack it open (using a knife or something?) and take the batteries out.
There are some other features the app offers. For example, you can create airdrops for 10 coins and more. When creating an airdrop, you can write a message, put a link or whatever else, and it will be visible only to the person who finds and opens your airdrop on the map. Some people use it to advertise their sites, YouTube vids, etc.
MY VERDICT
Use COIN geo-mining app if you
- can get many referrals
- can pay for premium AND move around a lot
- are not paranoid about location tracking
- want to play around with a new way of getting tokens
Overall it’s one of those apps that’s interesting to try, it can earn you some crypto if you travel a lot (think delivery drivers, etc), but it’ll be tracking your movement... but then most of other widely used apps do it anyway.
If you want to try, below is my referral link. If you register using it, I will be getting 10% of whatever you mine, and you will get a bonus of 1000 coins when you register.
Sounds interesting but there's some issues like requiring constant updating and keeping the screen on which are a deal breaker for me. I wonder how much it pays by mile( or km) to see if it worth trying at all. What was your experience on reward/distance? I guess it doesn't even pay the fuel. Thanks for the info you shared already.
i haven’t calculated the battery wasting while using this thing. After some minutes, a screensaver from the app appears and it’s a dark screen, but I can’t even guess if the battery wear is significant or not.
What i can say for sure is that for me with my max - hour driving per day or less at this point it doesn’t really pay much. I was getting more when I was working with Dash deliveries 3-4 hours a day, i was able to cash out between 30 and 35 dollars per month... But that was when I had a 25$ subscription plan :D so to get more out of it one would have to move/drive more, or leave the device on all night, etc Or have at least 5-10 good referrals with subscription plans as well
Yes, I got a similar feeling while searching about it. I do international motorcycle trips ( https://hive.blog/trending/hive-118597 ) so was wondering if it could reduce the cost somehow. Thanks for the info you provided.