Reliance Jio has introduced a new digital currency called Jio Coin. Unlike traditional cryptocurrencies, Jio Coin cannot be purchased on cryptocurrency exchanges. Instead, it functions as a crypto-based reward system. This FAQ guide aims to address all inquiries related to this innovative currency.
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1. What is Reliance Jio Coin?
Jio Coin is a digital currency built on blockchain technology, developed by Reliance in collaboration with Polygon Labs, a company specializing in blockchain solutions. Unlike traditional cryptocurrencies such as Bitcoin, Jio Coin cannot be purchased on cryptocurrency exchanges. Instead, it functions as a crypto-based reward system.
2. How is Jio Coin different from Bitcoin?
Jio Coin is different from Bitcoin as it can’t be traded or bought as of now. It is not available on crypto exchanges or for trades and doesn’t have any market value.
3. What is Jio Coin based on?
Jio Coin is based on cryptographic technology which makes it infinite.
4. How is Reliance Jio Coin made?
It has been made using Ethereum, specifically a 2-layer blockchain means its value can be determined by its creator or manager which is Polygon Lab/Reliance Jio in this case.
5. How can Jio Coins be gained?
For now, these can be gained from Jio apps and services for free when users perform various tasks.
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6. What is the process to earn Jio Coins for free?
As of now, Jio Coins can be earned via the Jio Sphere app, a web browser app introduced by Jio. Just follow this process below to earn Jio coins-
- Download the Jio Sphere app on your Android device, iPhone, Windows laptop, MacBook, or Android TV via official websites or stores like Play Store or App Store.
- Once the app is installed, select the checkmark box, and press ‘I’m ready to browse’.
- When you are inside the app, choose the ‘profile’ icon at the top left corner.
- Now choose, the ‘Ready to unlock rewards?’ banner.
- On the next screen that is displayed, choose ‘Sign in to Earn’.
- Key in your Jio Mobile number and click on ‘generate OTP’.
- You will get an OTP on your Jio mobile number. Enter it and choose ‘Verify’.
- This will activate your Jio Coin Wallet and now you just have to browse web pages on Jio Sphere to earn Jio Coins.
- Once you collect enough Jio Coins, you will be able to redeem them for getting discounts.
Note- This program is exclusively available for users with Indian-based mobile numbers.
7. What are the advantages of earning Jio Coins?
- Although Reliance hasn’t announced the exact usage of these coins, the company claims coins will be redeemed for savings on transactions which means in the future, users will be able to avail discounted prices for recharges or reduce prices for Jio Cinema premium membership.
- If Reliance’s experiment does get popular, other telecom operators like Airtel and Vi might also enter this arena bringing a similar reward system.
8. Which other apps will allow you to earn Jio Coins in the future?
Apart from Jio Sphere, Jio Mart, Jio Cinema and My Jio apps will be used to earn coins.
9. Are Jio Coins legal to hold?
Since Jio Coins are based on blockchain technology and owned by Reliance and Polygon Labs, these are 100% legal to possess.
10. Where will Jio Coins be stored?
Jio Coins will be stored in the Jio Wallet section within the app. These will be credited on a timely basis when you browse websites, play games, etc.
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11. Will using Jio Coins affect one’s regular usage experience of Jio Apps?
No, Jio Coins will not change your experience of using any Jio app.
12. What is the value of Jio Coins?
The official value of Jio Coins hasn’t been announced by Reliance yet, but speculations are rife that it might have a starting value of 0.5 USD or Rs. 43.30/ month. This means even if you earn 12 coins, you have over 500 INR. The value of Jio Coin will grow in the future as it integrates with other Jio apps.
13. List the tasks that can be performed on the Jio Sphere app to earn Jio Coins.
- Read articles
- Watch Videos
- Play Games
- Complete Profiles
- Click on banners
- Browse web pages
- Add cards to the home screen
- Add a quick page
- Search the web
- Use VPN
- Use Incognito Mode
- Customize settings
- Earn VPN time
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14. Can one get Jio Coins if he/she doesn’t have a Jio Mobile Number?
No, only Jio users will be able to join the Jio Coin program so those using Vi, Airtel, and BSNL SIM cards won’t be able to join. You can ask your Jio friends to join via their Jio number.
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