Mukesh Ambani, India’s richest businessman, has partnered with Polygon Labs to promote blockchain and Web3 technologies through his company, Reliance Jio. This collaboration aims to strengthen Jio’s digital offerings and services.
What Is Jio Coin?
Jio Coin is a blockchain-based reward token that can be earned through interactions with Jio’s various apps and services, such as MyJio and JioCinema. Additionally, users can earn tokens by browsing the internet using the JioSphere browser. These tokens are stored in users’ Polygon wallets, but currently, they cannot be transferred or sold in any market.
How To Earn Jio Coin?
Jio Coin cannot be purchased directly. To earn it, you need to use the JioSphere browser:
- Download the JioSphere browser on your Android or iOS device.
- Sign up using your Jio number.
- Click on the profile icon and select the ‘Jio Coin Wallet’ option.
- Once logged in, you can start earning tokens.
Also Read: Jio Coin: How Reliance Initiative Competes With The Top Cryptocurrencies In The World?
Potential Price Of Jio Coin
So far, there has been no official disclosure regarding the price of Jio Coin. However, media reports suggest that the initial price could be around $0.5 (approximately ₹43.30) per token. As its usage and demand increase, there is potential for its value to rise.
Can Jio Coin Make You A Millionaire?
There are claims on social media that Jio Coin could be used in the future for mobile recharges, shopping discounts, and fuel payments. However, Reliance has not made any official statements about this project, so it is advisable not to fully trust such claims.
Government’s Stance On Cryptocurrency In India
The Indian government does not recognize cryptocurrency as legal tender. Earnings from cryptocurrency are subject to a 30% tax, along with a 1% TDS (Tax Deducted at Source). Finance Minister Nirmala Sitharaman has also made it clear that the government maintains a strict stance on cryptocurrency.
