Buy Kin
What is Kin?
Kin is a decentralised cryptocurrency designed to facilitate transactions and incentivize user engagement within an ecosystem of consumer applications and services. It was initially launched as an ERC20 token on the Ethereum blockchain and later migrated to the Solana blockchain for improved speed and efficiency. Created in 2017 by Ted Livingston's Kik Inc., Kin aims to serve as the native currency for digital services, enabling microtransactions and rewarding users and developers.
How does Kin work?
Kin operates using the Solana blockchain, leveraging its Proof of Stake (PoS) consensus mechanism, particularly a variant called Proof of History (PoH). This ensures faster and more energy-efficient transactions than traditional Proof of Work (PoW) systems. Kin utilises smart contracts to manage token distribution and rewards, initially transitioning from Ethereum to Solana with the help of a smart contract bridge. The Kin Rewards Engine (KRE) incentivises developers through an engagement-based reward system, fostering a thriving community ecosystem.
What are the potential use cases for Kin?
Kin offers a variety of use cases that support micropayments and user engagement within digital ecosystems. These include:
- Micropayments for content creators and developers.
- Social media tipping for good content.
- Bidding for access to private influencer groups.
- Rewarding user-generated content.
- Integration with emerging AI technologies for secure user interactions.
- Tokenization of real-world assets like real estate.
What is the history of Kin?
Kin was founded in 2017 by Ted Livingston and his team at Kik Inc. as an ERC20 token on the Ethereum blockchain, initially intended for use within the Kik messaging service. It raised $100 million in an ICO. Over time, Kin migrated to faster blockchains, first to Stellar, and then to Solana, to improve transaction speeds and reduce costs. In 2020, a settlement with the US SEC confirmed Kin need not be registered as a security. The Kin Rewards Engine faced suspension in 2023 due to manipulation issues, and that same year saw a burn of nearly 5 trillion Kin tokens, boosting its market presence.
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Frequently Asked Questions (FAQs)
What is the current price of Kin (KIN)?
The Kin price is $0.00002151 AUD, representing a -0.54% from the day prior.
Where is the best place to buy Kin (KIN) in Australia?
The best place to buy Kin (KIN) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Kin (KIN) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Kin (KIN)?
The trading volume of Kin (KIN) is $412.0K AUD in the last 24hrs, representing a -0.54% from the day prior.
How can I buy Kin (KIN)?
Kin (KIN) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Kin (KIN)?
The current market cap of Kin (KIN) is $57.3M AUD.
Can I convert Kin (KIN) to cash?
Yes - With Coinstash you can convert your Kin (KIN) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Kin (KIN) are there?
The current circulating supply of Kin (KIN) is 2.7T.
Is Coinstash a safe place to buy Kin (KIN) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Kin (KIN) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.