Get paid to travel the world - GEOCOIN
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Get paid to travel the world - GEOCOIN

Updated: Apr 6, 2021






Earn Rewards for Location Data!

Earn rewards for your everyday location data with COIN! Redeem your in-app rewards for digital or real-world items.




Your Data Is Valuable. Start Earning for It.

Launched in early 2019, COIN is a mobile app enabling over 750,000 users to earn digital assets for validating geospatial location data when traveling, commuting, jogging or moving about the real world while interacting with each other and enjoying in-app challenges.


Your Lifestyle, Your Rewards

Where does it work? Earn COIN wherever you have GPS, Wifi, or Data connection. COIN App doesn’t use much cell data, so you can still binge Netflix or crush some candy without capping your monthly data limit.

What can I earn? You can redeem the COIN you earn for physical or digital items. This ranges from Bluetooth speakers, to digital currencies you can sell on exchanges. It's your COIN, you decide!

Why are you doing this? Tons of apps and products collect location data, but almost none of them give you give you rewards in exchange for your data. Stop earning nothing for your valuable data. Use COIN and earn what you deserve.


Partnered with XYO Foundation The COIN App uses XYO Foundation's open-source technology to prove that a user was in a location they claim to be. It helps avoid location spoofing in the app, and protects COIN from bad users who wish to fake their location to earn more digital assets than they should be earning. The app also contributes data anonymously to XYO Network's open-source, allowing each of its users to participate safely and easily. LEARN MORE




How to get started



What comes next?

Set up a Sentinel Extension Device SentinelX (Sentinel eXtension) Devices allow you to earn additional rewards on your mines. If you'll be setting one up, click here for the complete guides. We have a SentinelX BLE, which uses a small replaceable battery and Bluetooth to boost your earnings. Our newest product, the SentinelX NFC, uses advanced NFC technology and doesn't require a battery! It's also card-shaped, so it's a perfect fit for your wallet. Not sure which you want? Compare them first. Send a Referral Code, and Earn from a Friend You can invite your friends to start Geomining with COIN, and the friend you invite will be gifted 1000 COIN in-app for joining! Not only that, but you will also be able to receive 10% of what your new Geominer friend collects. Explore COIN App Features COIN App has tons of features! Some allow you to play mini-games, some maximize your rewards. Some are simply fun little badges inside the app! Explore COIN's features and learn how they work, if you want to become a serious Geominer. Need Help or Have a Question? If you have any questions, you can check out our extensive Help Center if you’re looking for instructions, guides, and troubleshooting.



 



COIN a geo-mining app, sounds interesting...


The COIN app website is high on the hyperbole, but its mission is on the bottom of the page:

COIN is a mobile app enabling over 500,000 to earn digital assets for validating geospatial location data when traveling, commuting, jogging or moving about the real world while interacting with each other and enjoying in-app challenges. I assume it’s “over 500,000 people”, though they haven’t specified that bit. But the concept of “validating geospatial location data” sounds interesting. What is geo-mining? It tells us:

When you click the pickaxe button in the app, you’re confirming your location and sharing that with the XYO Network. In exchange for that valuable data, you receive an amount of COIN Tokens. Sometimes this amount can be HUGE, and it’s also 12X larger if you have an XYO SentinelX with you as you travel. I travel a fair bit (well, before the stupid virus), I got a XYO SentinelX. They’re free: “you just pay for the shipping”, says the website, which is US $17.95 to send it to Mexico. And on that page, it’s pretty clear what you’re helping with:

XYO’s goal is simple — reduce the world’s reliance on centralized technologies.To make this happen, we need to build out a mesh network of IoT devices that spans the globe. That’s where you come into play. Because you’ll be anonymously verifying location data, which enterprises such as e-commerce deliveries and more find value in, we’re able to pay for the cost of your device for you in order to help build the next major geospatial location network! You earn “coin”, which you can change for cryptocurrency like Bitcoin or ETH, or goods, or the company’s own cryptocurrency called XYO. So we help them produce a location database (this way the only one out there isn’t Google, which is a good thing), and we get some of the company’s own crypto currency for helping, which we might be able to turn into real money one day. And because we travel a fair bit, we should get lots of crypto currency. So this is all good, right?

We’ve played with this for a few weeks.

So: what’s the business model of this company, and how can they afford to pay me all this exciting crypto currency (aka ‘coin’)?

The business model of the company appears to be:

  1. Sell mobile ads. You can watch these to earn crypto currency. I don’t know how these are charged by advertisers, but assuming it’s a $10 CPM model after sales fees, they earn 10c every view. They normally ‘pay’ about 6 coin per view (which is worth $0.0042). If I watch two 30" ads, I might earn a bit less than a cent.

  2. Sell “Sentinels” for US $17.95. I don’t know what the profit margin is on these, but I suspect quite little. But still, they’ve probably got a load of these key trackers in some warehouse somewhere, and they probably need to shift them.

  3. Sell a pricey subscription for real money, in order for users to earn the company’s own crypto currency back again. If I spend $34.95, I will earn much more coin, and therefore it’ll be worth it for me to spend that money for a monthly subscription perhaps.

You know, all of these are fine. I might pay $2.99 for a fake car in Asphalt 9, in order to keep playing it. I might watch an ad in order to get cards in Asphalt 9, and once I have 45 of those cards I might be able to get another fake car.

The “value” for playing Asphalt 9 is a fun game with racing cars. The value for ‘playing’ COIN is potentially a lot of people with crypto currency, and a promise of riches in the future if you can change the crypto currency into something that can buy you things (aka real money).

Unless the coin plummets into the sky, it seems like a big waste of time and money. I haven't come across anyone who travels as much as we do so it might work out after all!


 


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