How to Become a Geominer and Earn XYO Cryptocurrency by Verifying Geolocations
Sentinel X: You Don't Have to Have It, But It Helps (Quite a Lot, Actually)
Make Your Own Decision
Let me start by saying that I won't be providing you with a link to anything that will be making me any money. This isn't a self-serving article but instead is one that I am writing because I genuinely think there is some money to be made with the free (almost) gathering of the XYO cryptocurrency. People talked me out of buying Bitcoin back when I could actually afford it but no one is going to talk me out of this, and I hope you will feel the same way once you have read this article. If you are interested, don't let people tell you the idea is "stupid" or "crazy", like they told me about Bitcoin, which is selling for over $11,000 a share now.
The COIN App
When I first started this, the only thing I did was download the free COIN app (available on the APP store free) on my phone and register an account with my e-mail address. COIN is the official app for claiming XYO assets while collecting location data. The app will allow you to travel around (walking, jogging, riding, etc.) in the physical world and collect digital assets as you go.
I began immediately gathering the assets because we are out in our car a lot, but in about a week I had only gathered about 70 XYO assets, which is why I decided to go ahead and buy a device called the Sentinel X since it would allow me to gather cryptocurrency at a faster rate. It does, indeed, and I am so glad that I ordered it, but remember that you don't have to have it to get started. You can start geo-mining without spending a single penny.
The XYO Logo
The XYO Goal
XYO is building a mesh network of IoT (Internet of Things) devices that span the globe to achieve their goal of reducing the world's reliance on centralized technologies. To do that, they are providing geo-mining devices (Sentinel X) for $12.95 and in return, you can earn XYO assets, which have real money value while helping the company power the XYO network.
I consider this our chance - mine and yours - to get in on the ground floor of something that might turn out to be huge. If this venture dies out in the future, at least you could say that you were there in case it didn't. Honestly, I don't think it will die out and I think this is going to be a huge venture with lots of millionaires made. I would hate to think that I could have been one of them but wasn't because I wouldn't download an app and spend $12.95.
If you have no experience with geo-mining, you will probably not understand everything about the subject but it's important to remember that you don't have to. Just get started and learn as you go because all the pieces will fall into place. I know a lot more today than I did yesterday and I'm hoping to learn even more tomorrow. We all have to crawl before we walk and walk before we run.
What Is a Geospatial Network?
According to the XYO website (XYO.Network): "XYO is a people-powered network of devices that anonymously collect and validate geospatial data (such as the location of an e-commerce package...). At the center of it all sits one of the most exciting new cryptocurrencies that incentivizes the ecosystem called XYO."
By taking advantage of the power of the XYO (XY Oracle) Network and XYO assets, companies (like Amazon and UPS) can offer an independently confirmed ledger to track every step of a shipment’s progress, beginning at a fulfillment center and ending with the package’s secure delivery at the address to which it was intended - independent confirmation not only of a package’s delivery but of its entire shipping history. As e-commerce grows, the demand for such a service grows with it.
As geo-miners, you are helping to build that network and rewarded for your efforts. While you're using the COIN app with your Sentinel X, you are validating the accuracy and trustworthiness of location data at that specific time using the Bluetooth technology on your phone. The Sentinel X device also uses Bluetooth. The Sentinel X and your phone cryptographically verify that they saw one another at a given location.
You will be helping to "future proof" GPS, which costs taxpayers about $2 million per day.
My Own Personal Nutshell Summary
- You can download the COIN app on your phone and begin mining immediately at no cost to you. Just keep the program open while you are out and about (walking, jogging, bicycling, driving) and you can watch as it accumulates XYO tokens.
- For $12.95 you can order a Sentinel X, the device that will allow you to mine at a higher rate (about 12 times what you would mine without the device).
- For $24.95monthly you can upgrade to the "plus" program that has other benefits that you may want, as well as mine even more.
- For $34.95/monthly you can upgrade to the "pro" program that further increases the amount of mining you are able to do.
- If you are interested in "sharing" Sentinel X devices, you will need to purchase a "bridge," the device that will allow you to register the devices in your account, then give them to friends, family or total strangers to use. You will then receive 10% of anything they collect. The last time I checked, a bridge cost about $200 but I believe if you do a little bit of research you can find them for much less.
Cryptocurrency purchasers need to learn patience, savvy, and tact if they hope to succeed in this market. Instant gratification must give way to multi-year development roadmaps. Get-rich-quick schemes must be passed over for projects with a long-term value proposition. Knee-jerk reactions must be tempered with deliberative forethought.— Joseph DiPasquale, Attorney
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2019 Mike and Dorothy McKenney