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May 4, 2021
HomeBlogHow to mine GIN COIN | Is GINCOIN Scam or legit • GIN Account
How to mine GIN COIN | Is GINCOIN Scam or legit • GIN Account
GIN Blockchain is a new blockchain innovation for users to earn GIN, a cryptocurrency that you can mine on your mobile phone (on Mainnet phase). By playing the roles of Miners, Referrers and Verifiers, players on the GIN Blockchain will be rewarded with GIN tokens.
According to Nerdwallet, A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions.
When Bitcoin “the first Cryptocurrency in the World” was created by Satoshi nakamoto in 2009, just a few people in the World (less than) hundreds thousands people mine Bitcoin because it was being mined on a computer with huge electricity. Also, many people do not mine Bitcoin because they thought Bitcoin was a scam.
But later when Bitcoin was launched, anyone can buy 1btc with just $0.00001 but today, as at the time of this writing the price of 1bitcoin is $60000. This also happens to Ethereum, the second most popular Cryptocurrency in the World next to Bitcoin was now $3000 per 1ETH.
The total Supply of Bitcoin that will ever be mine is 12million, which makes it scarce for people to get. Only the early miners of Bitcoin grab the opportunity.
The total Supply of Ethereum is 34million.
While the total Supply of GIN Coin that will ever be mine is 20million, this will makes it more scarce than Ethereum and next to Bitcoin.
GIN has given us the opportunity to be able to mine GINCOIN on our mobile phone like that of Pi Network, the first Cryptocurrency to be mine on Phone. Anyone in the World with smartphone can now mine Gin Coin on the phone now free.
To create GIN COIN mining Account, you will need a smartphone and after you get your smartphone, download the GIN mining App “GIN Wallet” and start mining with just a tap on your mining button once every 24hrs.
To mine GINCOIN, just follow the instructions below;
NOTE: let the sponsored name be Aschoolz as it is in the image below
3. Then click on Register
4. A confirmation code will be sent to the email address you use to register your Gin Account.
5. Wait for some minutes to get the code if not yet given or you can check your spam folder. Copy the code and verify your GIN Account.
6. In the email, a link to download the GIN Wallet will be given to you.
If the link to download GIN Wallet was not given to you, click here to download GIN Wallet from Play store, for Apple Store users, click the link sent to your email address to install the GIN mining App.
How to mine GIN COIN, token
To mine GINCOIN, just follow the simple steps below, after you install your Gin Wallet (Gin mining App),
1. Login into your GIN Wallet
2. Click on the Axe button
3. Click on the Green button
Immediately, your mining will start and in the next 24hrs again, you will have to click on the mining button once again.
NOTE: you don’t need to leave the app open all day or ON your Data all day to mine GINCOIN
Start project, research strategy, conceptualise, start whitepaper implementation, build development team.
The GIN is starting to roll out phase 1 to all users. The first blocks are distributed for free. GIN’s goal during this period is to reach 500,000 app downloads and 20 million tokens to be distributed for free.
App downloads became popular and used by millions of users. GIN tokens are distributed free of charge. The GIN Wallet application completes the payment and animate. Listing GIN on exchanges. Target price 5 USD.
GIN peer-to-peer exchange launched into the community. Mainnet GIN Blockchain implementation. Deploy GIN miner on CPU and mobile platforms. Transaction fees are fully redistributed to GIN holders and 50% used to assist victims affected by the Covid epidemic – 19
A year of prosperous development of the GIN community with a series of extended GIN ecosystems born. Intellectual Property Platform – Non-fungible tokens (NFTs) was deployed to protect content developers and develop Token on the GIN platform. GIN Blockchain era, GIN ecosystem.
Here are some few questions people are asking about GIN Coin.
1. What is GIN?
GIN Blockchain is a new blockchain innovation for users to earn GIN, a cryptocurrency that you can mine on your mobile phone (on Mainnet phase). By playing the roles of Miners, Referrers and Verifiers, players on the GIN Blockchain will be rewarded with GIN tokens. To make GIN valuable, GIN Blockchain is specially designed as a network of righteous people, encouraging players to exchange goods and services in real life with their GIN balance. and finally, listing GIN on major cryptocurrency exchanges to trade GIN with fiat currency. Note that we say you can mine GIN in the Mainnet phase, but now you can do the task to receive GIN Token.
2. Can I withdraw my GIN now? When is the withdrawal time?
No, you still cannot withdraw GIN in phase 1. Phase 2 of the GIN Blockchain roadmap is to list GIN Blockchain on major cryptocurrency exchanges, allowing players to use GIN to earn from GIN Blockchain to transactions and sales, as Q3 2022 target, depending on the growth of the number of users and the dynamics of the community. Please refer to GIN project roadmap in the White Paper: https://gincoin.co/white-paper Do it takes time and collaborative effort to build value of the GIN community and the GIN Blockchain ecosystem If you are looking to win the overnight lottery, please look elsewhere.
3. What is GIN’s valuable growth potential?
The value of the GIN coin will be ensured by the GIN Blockchain community, the volume of transactions in the exchange of goods or services between GIN Blockchain members, liquidity in the transaction market and the moment of transaction. Just like Bitcoin, the value was $ 0 at the time of its launch in 2008, but as popularity increased and time passed, 1 Bitcoin is currently trading at $ 60,000 at time of writing. Since it takes time and collaborative effort to build the value of the GIN coin and the GIN Blockchain ecosystem, if you are looking to win the lottery overnight, please look elsewhere.
4. How much does it cost to earn GIN? Do I need to pay any money?
You do not have to pay any money to join GIN Blockchain and earn GIN. However, this does not mean that the GIN is free. To make the gaming experience on GIN Blockchain fun and rewarding, we strive to build a network of true people, foster interaction among real-life players, and encourage players. Exchange services or goods in real life with GIN balance. Therefore, you need a consistent commitment to contribute to the community and the GIN is your reward. The least you can do is login every day and activate a new mining session.
5. Why has growth been reduced?
To ensure the price stability of the GIN and prevent any common negative fluctuations between cryptocurrencies, the supply cuts (otherwise known as ‘halving’ in the money world (electronic) is required to maintain the supply and demand chains of the GIN. By reducing the supply of GIN tokens, GIN Blockchain can maintain the scarcity of GIN tokens to ensure the value held by our GIN Blockchain users – including you. Take Bitcoin as an example. Halving is a common event, happening about every four years for the largest and most valuable cryptocurrencies in the world, and the price of Bitcoin actually goes up with every halving. In simpler words, cutting the GIN token supply per key user milestone will protect the price of GINs while preventing price inflation. According to our project roadmap, there will be a total of 4 halving increases in the entire project roadmap. The first halving is when we reach 1 million users with speed (-> 0.8 GIN / Hour), the 2nd drop is 5 million users reaching, the third is 10 million. , wave 4 drops when we reach 15 million users. Or when the entire amount of allotted coins is 100 million, the speed for Claim free to = 0 coin / h moves to phase 2 (pool 2) While it may not be favorable for you to notice the gains in your coins are not as fast as it once was, this is an extremely important way to create and grow the value of GIN by reducing a half increase. For details, you can refer to the section “Why supply cutting is important on the GIN Blockchain” in our newsletter.
6. How do I earn GIN?
You earn GIN coins in 3 ways. First, you make money as Claim, by logging in daily to activate your next 24 hour Claim session. Once you have clicked the Claim button on the main screen, your GIN balance will increase by 1GIN / hour (or 0.8 GIN / hour or lower if you participate in the time when the GIN Blockchain has been decelerated. degrees) continuously for the next 24 hours in your basic hourly increments. Second, you earn extra GIN at 25% x your base gain x the number of active Claims in your team as Referrers by referring new members to the Claim team. account and maintain their operations. Third, you enjoy an additional basic gain as a Gamer, by participating in games made on the GIN Blockchain. Gamers are only done from the second stage.
7. Will GIN Blockchain drain my battery or data? Do I need to keep the app open?
Not for both of these sources, as GIN Blockchain is different from Bitcoin. You will only consume a negligible amount of battery and data when opening the GIN Blockchain application and activating your data mining session, the whole session can be done within 10 seconds. You don’t need to open the app once clicked to activate a new mining session. GIN Blockchain application will not run in the background and consume any data and battery of your phone after you close the application. This is due to the difference between the consensus algorithm between GIN Blockchain and Bitcoin. For more technical details see our whitepaper.
That’s all for now on how to mine GIN COIN.
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OMINI ABIODUN MICHAEL [a.k.a] BANKEY MILL (BM) is a blogger and the CEO of Aschoolz.com. We Share Education School News of Universities, Polytechnics, Colleges for both Nigeria Schools, Ghana Schools and American Etc like JAMB, Waec, Scholarship, Job opportunity, Learning, Story books and Blog etc