JioCoin Marks Jio’s Entry into Cryptocurrency, Offering Rewards for App Engagement
JioSphere users have noticed JioCoin, a crypto token earned by engaging with Jio apps. While its value and uses are unclear, it may soon be used for services like recharges and bill payments.
Tech Author
Users of the JioSphere web browser may have spotted the launch of JioCoin, a cryptocurrency token listed on Polygon Labs and built on Ethereum Layer 2. Despite the lack of an official notification from Reliance, JioCoin has begun appearing on the phones of many Android and iOS users.
If you utilize Jio apps and services like MyJio and JioCinema, you can earn JioCoins, which are reward tokens based on the blockchain, according to the JioSphere FAQ. Web3 tokens can be earned by users through actions such as using the JioSphere browser to surf the internet. Their Polygon Labs wallet is where they'll keep all of their earned tokens.
Users' actions determine JioCoin's worth, and it may soon be able to pay bills, reload mobile phones, and access other Jio services. Nevertheless, JioCoin's exact worth and trading alternatives remain unknown at this time. More information regarding the features and usage of JioCoin is scheduled to be publicly announced by Reliance in the coming days.
An extra 1% tax is withheld at the source, bringing the total tax on bitcoin profits in India to 30%. The global interest in blockchain-based currencies is on the rise, and tokens like Bitcoin are in high demand all over the world, even though there are concerns about crypto safety because of occurrences like the WazirX security breach.
Source : The Indian Express
