Cryptocurrencies, also called virtual currencies, are going to be a huge investment opportunity in the next decade. Despite only being a little over a decade old, since the foundation of bitcoin in 2008 cryptocurrencies have quickly become a new online economy with millions of users around the world.
Kin currency is set to launch later this year through the Kik messaging app. Keeping up-to-date on the features of the Kin application and what is expected from its early performance is valuable for potential investors and for the millions of Kik users that will be exposed to this budding new virtual economy.
Here is your short guide to Kik’s new cryptocurrency.
Funding
Kin was funded by an ICO in 2017 to launch the Kin coin in conjunction with Kik’s rewards system. The sale was a resounding success, raising almost $100 million towards the currency and distributing 750 billion Kin tokens to buyers around the world.
Though it won’t launch on Kik until later in 2020, Kin prices are already relevant to the global cryptocurrency exchange rate.
Relationship to Kik
The established user base of the Kik messaging app gives Kin currency an advantage over other newly formed cryptocurrencies. Kin will use Kik as a platform to incentivize users to reward their favorite content creators using the Kin economy.
This will make the Kin token the new exchange for content and value on Kik. Users will reward their creators and Kik will reward creators for utilizing the Kin economy in their content.
This will collectively be called the Kin Rewards Engine, which will pay people daily for using Kin based on their contribution to the economy as a whole.
This engine, as well as the Kin Wallet from which users will keep track of their money and pay creators, will be seamlessly integrated into Kik. This is one of the currency’s major advantages. Most new currencies have to outsource these services to third parties. Kin comes with monetization opportunities pre-packaged.
Price Projections
Kin price predictions show the currency to increase in value as the available supply becomes smaller, owing to the token cap. The plan is to integrate the currency with other digital platforms as well, using Kin as the basis for a new interoperating economy.
The Takeaway
Cryptocurrencies are coming into existence all the time, but few have as many built-in opportunities for monetization and expansion as Kik’s Kin currency. When it launches later this year, Kin will already have a huge distributed supply of tokens and a sizable user base available to promote and utilize its new economy.
Whether you’re a regular Kik user or a potential cryptocurrency investor, Kin is one to watch for later this year. Use a bitcoin calculator to calculate your prices.
