You cannot mine the Kin coin as it runs on the PoS algorithm. That is, direct mining on video cards or ASICs is impossible. But even though you can buy this coin on the exchange.
But first, let's figure out what this virtual currency is.
What Is Kin Cryptocurrency
The Kin consists of a group of digital services launched by the Kik messenger. By the way, messenger is one of the ten most popular applications in the world, second only to Whatsapp, Viber, Telegram.
The Kin cryptocurrency is used as money in the digital ecosystem of consumer applications and services. It was originally launched as an ERC20 token on the blockchain. Still, it was later ported to the Stellar blockchain due to the limitations of the former.
The Kin token is used for day-to-day activities like sending microtransactions in the Kin ecosystem. Acts as a liaison between all Kik services. The Kin cryptocurrency is part of the complex Kik ecosystem. KIN is integrated into many applications that allow users to earn KIN and reward each other.
Buying Kin on Cryptocurrency Exchanges
The KIN token has been listed on many cryptocurrency exchanges. Unlike other major cryptocurrencies, it's almost impossible to buy them with fiat money. However, you can still easily buy this coin by first buying another token from any fiat-to-cryptocurrency exchanger. And then transfer it to an exchange that offers to exchange that coin.
The difficulty in buying KIN cryptocurrency is only finding an exchange where it is presented in exchange for the tokens you are interested in.
Also, do not forget that absolutely all exchanges charge a commission for trading. On average, it's 0.25% of the transaction amount. Deposit and withdrawal of funds are also paid. For each currency, they are different. Payment for the transfer of kin is 10,000 KIN on average. Also, note that you can withdraw at least 50,000 KIN.
Let's consider the main ways to buy KIN on exchanges.
Buy KIN with Ethereum
The KIN token was originally issued on the Ethereum blockchain, so one of the most common ways to buy KIN on cryptocurrency exchanges is with Ethereum tokens (ETH).
If you already have a wallet with Ethereum, you just need to send it to an exchange that supports KIN and purchase it. If you don't have Ethereum yet, you can easily purchase it on a reliable cryptocurrency market.
The main exchanges that will allow you to buy Kin with Ethereum are:
The average exchange rate ranges from 1 ETH = 38863613 KIN to 1 ETH = 48426150 KIN.
Buy KIN with Bitcoin
Bitcoin is also a popular cryptocurrency that is used to buy KIN. The exchange is possible at the rate from 0.00000001 BTC to 0.0000000023 BTC for 1 KIN on average.
Popular cryptocurrency exchanges such as HitBTC, Mercatox, Coinall, and Bit-Z allow a free KIN exchange for Bitcoin. These platforms are pivot tables with charts that display the KIN's trading activity over one day. Order books will allow you to see everyone who wants to buy or sell KIN, as well as compare supply and demand.
Buy KIN with Fiat Money
Even though KIN is almost impossible to buy directly for fiat money, some exchanges still allow you to do this. Exchange is possible for such traditional currencies as:
- You can buy KIN with US dollars (USD) on YoBi and Lykke Exchange.
- You can buy KIN with Chinese yuan (CNY) on the Fatbtc exchange.
- You can buy KIN with South Korean Won (KRW) on the ChainX exchange.
The Kin cryptocurrency rate in 2021 ranges from USD 0.00011 to USD 0.00015.
Buy KIN with Other Altcoins
Also, you can buy KIN on cryptocurrency exchanges for other tokens.
So, for example, on Fatbtc it is possible to exchange DAI coins for KIN, and the Mercatox platform makes it possible to purchase KIN for Litecoin (LTC). Cryptoexchange DDEX in exchange for Kim accepts Wrapped Ether (WETH). On Stellarterm or Stellarport you can use the Stellar token (XLM) to buy KIN.
So the variety of tokens for which it is possible to buy KIN is quite large, and it's possible to exchange your existing cryptocurrency for KIN.
Should You Buy KIN
Most experts in the cryptocurrency market agree that the Kin token opened the era of monetizing distributed content and using bots. The cryptocurrency has its own network, which reduces advertising costs to zero. Information about the platform and cryptocurrency is disseminated through the messenger and social groups.
The advantages of the KIN coin can be safely attributed to:
- The ability to create paid groups on a social network.
- Getting paid for the content you provide.
- Paying for advertising and receiving dividends per view.
- Encouraging user activity.
- Monetize games, bots, and other applications.
And the drawback can be considered only the lack of mining. And also partially the fact that the messenger is popular in the American and Canadian markets and is not in demand in Europe and the CIS countries.
The Kin cryptocurrency is relatively new. It claims to be one of the most widely used cryptocurrencies. And all because it was created based on a popular project. So from an investment point of view, the token is very promising.
The views, opinions and positions expressed in this article are those of the author alone and do not necessarily represent those of https://www.cryptowisser.com/ or any company or individual affiliated with https://www.cryptowisser.com/. We do not guarantee the accuracy, completeness or validity of any statements made within this article. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author. Any liability with regards to infringement of intellectual property rights also remains with them.