KIN token is a digital token of the popular platform KIK messenger. This mobile application (available for free on iOS, Android, Windows Phone) allows users to safely exchange notifications. Intermediaries such as banks, payment systems are excluded. Anonymity KIK Messenger ensured the absence of accession to the phone number (just specify the email.)
KIK’s main competitors are Telegrams, WhatsUp, Viber. Currently KIN token is trading at $0.000062 with market cap of $47,046,024. KIK founded in 2009, totally raised $ 120 million in 5 rounds. Before the ICO, the last round was held in 2015 with an estimated $ 1 billion. Investors in the previous rounds are Tencent, Union Square Ventures, etc.
In 2014, the company launched its own analogue of an electronic payment system called Kik Points. The service allowed everyone to earn special points for viewing ads. The total number of payments since the start of the resource in 2016 every day exceeded more than 300 thousand transactions. The maximum value reached 2.5 million transactions daily. Somewhat later, the team introduced the KIN, new token of KIK platform.
The KIN token appeared on the ERC20 platform (based on the Ethereum blockchain) in 2017. The release of cryptocurrency was announced at the end of May. 4 months later the tokens were sold during ICO. KIN developers are KIK Interactive from Ontario. The company opened branch in Israel.
What are the KIN for?
KIN token is an internal currency of the platform. Platform is anonymous messenger, which doesn’t require a phone number. This ensures complete confidentiality of each user. This social network has millions registered accounts, so the promotion of cryptocurrency did not cause problems.
KIK Messenger users can use tokens to perform such actions.
- Creation of a paid closed group
- Receive monthly payments for access to interesting groups and subscriptions
- Payment for the use of various content (video, audio, etc.)
- Remuneration of users for performing certain actions, for example, viewing ads
- Transfer of funds between network users
- Monetization of the proposed applications and other services (games, entertainment programs, etc.)
KIN token is supposed to use by people who have no experience with digital coins and do not really understand their technology. Therefore, the development team offers the simplest, most accessible and understandable interface for working with tokens within the ecosystem.
Among the priorities is to create an official wallet that will be integrated into each user account. This contributes to a simple and quick exchange, conversion of digital coins, as well as the easiest algorithm to manage own funds.
In the future, the KIK team plans to promote the website and expand its capabilities. In perspective, the KIN coin should become a means of payment not only within the community. Using KIN token, users will be able to make payments in other digital systems (social networks, internet services, electronic payment systems).
The project team includes:
- Founder and part-time platform manager Ted Livingston. He created a resource at the age of 22 years. According to the American magazine Fast Company named the most prominent young businessman in 2017.
- Head of Finance and Executive Director Peter Heincke. Before joining KIK, he was involved in various operations with fiat currency. He took part in the development of many well-known startups.
- Purchasing Manager Eran Ben-Ari. Previously, he worked in an Israeli company that provides communication services. After being acquired by KIK in the winter of 2017, he received a similar position in a new project.
Where To Buy KIN token
At the time of writing, KIN is listed on the following crypto exchanges – HitBTC, Bancore Network, Mercatox, Allbit, Fatbtc, IDEX, YoBit and some others. The token is mainly trading in pair with BTC or Ethereum.
Pros & Cons
- The possibility to create paid groups in the social network
- Getting paid for the content provided
- Payment for advertisement and dividends through its viewing
- Promoting of user’ activity
- Monetization of games, bots and other applications
- Lack of mining
- The messenger is popular in USA and Canada only