India has always had a confused relationship with cryptocurrencies. Several exchanges suffered when the government placed a ban on cryptocurrency in 2018. With uncertainty looming over it's legality the overturn on the ban by the Supreme Court in 2020 came as a much needed respite. India is a billion plus population and hence a big player for any industry.
Pre 2018, a handful of players had stepped into the crypto space which is still a very large market. It's only a matter of time before it sees some major competition and for now, it is a good space for investors to jump in. Taking advantage of the overturn and the lucrativeness of the Indian economy, Estonia based cryptocurrency trading platform Coinsbit has decided to do just that. And what will generate more interest than to announce a decent airdrop.
Coinsbit claims to be an award winning European exchange. In order to launch itself in the Indian Market- Coinsbit has come up with a dedicated token - Coinsbit India Token (CIN).
An aggressive promotional tactic to engage existing and new users - Coinsbitis giving away free CIN tokens worth $200 (2000 CIN Token) for every signup and KYC (to know more log on to the website for a step by step guide). The aim of this is to encourage individuals to explore and ascertain Coinsbit India's efficiency, scalability, trust, transparency, and safety.
While it is a marketing strategy as is common in the crypto industry, it sure is an opportunity for the likes of us to claim some free CIN tokens through the airdrop. The verification document required for Coinsbit CIN airdrop for Indian nationals is an aadhar card and passport for International users. The airdrop start date was 9th April 2021 and end date is not disclosed yet. As per the information available, there shall be no public sale of CIN tokens. It will be issued only through sign-ups, referrals, trading competitions, social media challenges and staking. You can use my link to link up.
More details on their referral program and rewards are available on their website.
Only time will tell how the CIN token fares. For now, I suggest you keep collecting and hope for varied utility. Be advised users are experiencing KYC delays as lot of people are signing up to grab hold of this opportunity.
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(Please note - This article will also show under my alter ego - Cyek)