Jio Coin Launch Date & How to Buy Jio Coins – The year of 2018 is going to be the year of Altcoins yet again. 2017 has recently shown us the power of cryptocurrency with the likes of ripple, there and litecoin reaching record highs along with the main crypto coin i.e. Bitcoin. Even though it was already predicted that bitcoin prices would soar it turned out to be way above than expected. The sole reason for this was the acceptance by many nations of the world and a significant amount of trading through bitcoins.
This is what led to the boom of cryptos. Many altcoins were already a part of our day to day lives along with bitcoins but their value had always remained dwindling and never even gone above a few $100. With the rise of bitcoin through the domino affect other cryptos too saw a huge surge in their market cap as it was now that people were able to understand the worth of cryptos as a viable means of trade. Being a developing and progressive nation, India too has shown its fair share of interest in cryptocurrency.
In a money hungry society, the main highlight for cryptos has been due to the immense profit-making potential of the crypto trading community. It is being realized that people who had invested highly early on in this scene are now millionaires. India’s stance on bitcoin and cryptocurrency so far had been a bit shaky and unclear. On one hand, rumours loom that bitcoins and other altcoins would be banned permanently and made illegal to trade while on the other hand, Indian wallets are selling them freely without even any documents. The pan card linking to wallets had only recently been implemented. India’s massive interest in cryptocurrency has sparked business ideas from the wealthiest family who plan to bring out their own altcoin this year in the form of Jio Coin.
About Jio Coin
Jio Coin is going to be the main project for reliance group this year. The main responsibility for this coin has been handed over to Akash Ambani who is the eldest son of Billionaire Mukesh Ambani. The main task of the team led by Akash Ambani is going to be about building the blockchain for the coin.
A blockchain is a type of a ledger in which almost all the trades of a cryptocurrency are registered. It is the sole reason why trading in bitcoins is safe and cannot be hijacked easily. Even though cloud blockchain is mainly used for recording transactions, Jio plans to use it as a means of supply and management logistics service.
Jio coin is said to be open source just like any other crypto out there. This would promote people from all walks of life to buying this crypto.
Jio Coin Market Capture
It is estimated that Jio Coin would have a market cap of around 50 million in its initial release. Meaning that 50 million coins would be up for grabs to the people. The expected price of one coin is being estimated at around 1$ or what is currently Rs. 64. If the coin actually sees a decent amount of trade then it can be a great investment in the long run.
Jio Coin Launch Date
The Jio Coin hasn’t yet seen the daylight in terms of official announcements. What we have till now are just mainly speculations confirmed by internal sources. The ICO is expected to be launched by 15th of February and the whole exchange of JIO Coin is supposed to be launched by the end of March 2018. This would mean the new financial quarter would be started by the hype of the Jio Coin. This could indeed be a huge financial boost to the country’s economy yet again. If Jio coin is launched worldwide then it could be of great use and indeed be a major growth factor too.
What is Reliance Benefit Here?
If you are wondering how reliance would profit from this release of altcoin then worry no more. Reliance or Jio would be providing people with 50 Million Jio coins at a price of $1. All these coins are first owned by Reliance and then would be available for the public to buy.
When this selling cap is completed Reliance’s profits would be up by $50 Million. Considering the hype for Alt Coins and new cryptocurrencies these days, this quota would be soon accomplished by Jio. Considering that only 50 Million coins would be up for grabs for the people, the price would indeed increase for the coins as the demand increases.
Overall Jio and reliance would profit a lot from this even if the price of the currency decreases. This is indeed a new business tactic for literally printing money out of thin air. What is to say that Jio and reliance themselves wouldn’t hold onto the coins and wait for the price to rise. Considering price manipulation in cryptos is fairly easy with huge transactions, we are looking at a currency being controlled by the richest family in India.
How to Buy JioCoins
Just like any other cryptocurrency out there, the Jio Coin would also be available for the people to buy online. The estimated price of $1 may or may not be true but it does seem a realistic value for luring potential investors from all around the country as well from around the world. Jio is yet to set up a blockchain service for their cryptocurrency.
A blockchain would ensure that there are easy transactions online. It is one of the key parts of getting jio coin and any other crypto coins online. As soon as the blockchain gets set up it would be easier for everyone to get access to the coins and buy them. It is being suspected that the Jio money wallet will be integrated with the Jio Coin.