Jio Coin: Resolutions To The Most Common Doubts

Jio Coin: 5 Most-Asked Questions Answered

Jio Coin: Things You Should Know About This Indian Token 

Reliance Jio’s Mukesh Ambani, the richest businessman of the country, has entered into a partnership with Polygon Labs for promoting blockchain and Web3 technologies through his company. The collaboration looks forward to strengthening Jio’s digital offerings and services. This is the first entry of an Indian company into the Web3 and Blockchain universe.

There is no lack of questions that have been raised around the coin. Here we bring you some of the top queries that people still have about the new Jio coin. Read on for further clarity on the digital reward token, JioCoin.

What is the Jio coin?

Jio crypto coin is a digital currency, a blockchain-based reward token. Its backend technology makes it infinite in supply. JioCoin represents a new way for Reliance Jio to reward its users by engaging with its services. It may be noted here that the Jio tokens are stored in the users’ Polygon wallets. They cannot be currently transferred or sold in any of the markets. Also, the coin aims at making cryptocurrency accessible to India’s general public. 

There have been social media claims hinting toward the use of Jio Coins for mobile recharges, fuel payments and shopping discounts, but in future. It is also speculated that the coin could be used to incentivize users, drive engagement, or provide discounts on Jio’s services. However, as per jio coin latest update, the exact nature and purpose of Jio Coins are yet to be officially confirmed.

JioCoin is unique due to its seamless earning process, integration across services and a secure and transparent reward token system.

Is Jio coin launched?

To answer this, you need to first understand that the Jio coin is not yet a cryptocurrency.

As per some reports, the Jio coin is a digital token and not a cryptocurrency. It is being considered a blockchain-based digital token, however, calling it a cryptocurrency, at least for now, may not be entirely correct.

Currently, the Jio coins by Reliance cannot be transferred or even redeemed. The users are currently not able to transfer or sell the Jio coins on the market, thus snatching away some of the main characteristics of a digital token from the Jio coins to be referred to as a cryptocurrency.

While Jio Coin is not yet available on crypto exchanges, users can stay connected with the Jio Coin Program to earn the same for free. Investment and JioCoin launch dates remain unconfirmed, but future listing on cryptocurrency exchanges may allow trading with popular currencies like Bitcoin, Ethereum, USDT.

One may know that the Jio tokens can anyways be used like reward points.

Hence, it may be said that the Jio token has not been launched as a cryptocurrency for now, but you can still use the same for reward points.

Can I buy Jio coin?

JioCoin functions as a reward token that the Jio users can earn for free.

JioCoin is completely free to earn. Users can accumulate it through the Jio Coin App (JioSphere) by taking part in the Jio Coin Program. However, users are advised to wait for the official announcement on the Jio Coin launch date, Jio Coin investments, and price details.

Although Jio Coin buy options are not currently available, potential purchase avenues in the future might include the following:

Official Jio Platforms: You can securely buy, store, as well as manage JioCoins through official Jio apps.

Crypto Exchanges: Once listed on the crypto exchanges, JioCoin could be traded against popular cryptocurrencies like Bitcoin or Ethereum.

Third-Party Vendors: New users might also explore step-by-step guidance through trusted vendors for seamless purchases.

Therefore, yes, you can buy Jio coins, that too, without spending a penny. However, it will be a reward token and not a crypto. 

What is Jio coin price?

As per Jio coin price prediction, the initial Jio coin price is expected to be around $0.5, that is approximately Rs.43.30 per token. However, there’s been no official disclosure of what the Jio price would be. It is also expected that with increase in usage and demand, the Jio crypto coin price may rise.

Where can I buy Jio coins? How do I earn Jio coins? 

Everyone wants to know how to invest in Jio. One can earn Jiocoins through interactions with Jio’s apps and services like MyJio and JioCinema. The Jio Crypto can also be earned through internet browsing while using the JioSphere browser. 

Here are some steps you need to follow to earn the Jio reward tokens, that are available in unlimited supply:

• First, you need to download the JioSphere browser on your Android or iOS device.

• Next, you can go forward signing up with your Jio number, which is an Indian mobile number.

• Then you are supposed to click on the profile icon.

• Select the “Jio Coin Wallet.”

• Finally, as you are logged in, you may start earning these tokens.

Those new to JioSphere may know that the JioSphere app is currently available on all the platforms - from Android, iOS, Mac, Windows and Android TV. JioSphere app is a web browser and you can use it for almost everything (browsing, watching videos, reading articles, playing games, playing music, searching content and searching for websites), just like you use other browsers (Firefox, chrome, safari and more).

It’s further been reported that Jio has been planning to expand the JioCoins program to other popular apps like MyJio, JioCinema and JioMart and thus make it easier to earn coins via diverse activities.

Jio Coin And India’s Crypto Landscape

Jio Coin’s entry into the market and the response it has gained so far is a signal that the people are eager toward crypto adoption. While Reliance is, this way, introducing blockchain to its vast customer base, the new development may aid educating millions about crypto benefits. This can be an inspiration for many other Indian companies, and the collaboration with Polygon may further highlight the importance of homegrown blockchain projects.

Furthermore, the government in India does not recognize cryptocurrency as legal tender. The earnings made from cryptocurrency are even subject to 30% tax with 1% TDS (Tax Deducted at Source). Nirmala Sitheraman, Finance Minister, has cleared the government’s strict stance on cryptocurrency.