Coinsbit is a European cryptocurrency exchange that is quite popular and is among one of the best cryptocurrency exchanges. Recently they've launched a platform focusing on Indian residents with the name Coinsbit India. And to promote their platform they've introduced an airdrop of CIN tokens worth $200.
WHAT IS CIN TOKEN?
Coinsbit India Token(CIN) is the native utility token for Coinsbit India Ecosystem. The goal to introduced this token is to bring the true power of blockchain and cryptocurrency, by building a robust platform supporting Defi, NFTs, Dex, launchpads, and many more. As of now, they've mentioned that the CIN token will never have any public sale and users will only be able to get the token by airdrops, referrals, competitions & staking.
Total Supply: 100Bn CIN token
Initial Phase Value% 0.1 $
ELIGIBILITY
This airdrop will only be available for only verified users which means you have to complete your KYC on the Coinsbit Indias platform after sign up.. On successful completion of KYC, you will be eligible for 2000 CIN Tokens worth $200. Indian residents can complete their KYC via Aadhaar Card and PAN Card, but KYC via passport is also available for international users. In both these cases, you have to upload a selfie of yourselves and the mentioned documents.
REFERRAL PROGRAM
They have introduced 5 Levels in their referral program which are as follows:
Level 1: 1000 CIN TOKENS per referral.
Level 2: 500 CIN TOKENS per referral.
Level 3: 250 CIN TOKENS per referral.
Level 4: 100 CIN TOKENS per referral.
Level 5: 50 CIN TOKENS per referral.
PS: Your referrals need to complete their KYC's on the Coinsbit India Platform.
You can join the referral program here.
PS: Level 6 mentioned in the above image is not part of the referral program and will not earn you any tokens.
DISTRIBUTION
Now, this part is a bit tricky and the reason is, as of today(02/June/2021), I can't find anything on their site regarding how the tokens will be distributed.
And this is important because I remember recently I read that the tokens will be distributed in phases like every month or something like that. In each phase, you will get a handful amount of tokens from your total rewards and the rest will be staked only to be unlocked in every phase. If I remember correctly, it was on their site only, but now I can't find it but If there's any update, I'll let you know. This includes those initial 2000 CIN Tokens.
Join Coinsbit India and get $200 worth of CIN Tokens.
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does it apply to the public? will you also get the water drop... even though you are not a resident of India
Yes, it does, but I'm not sure if other documents are required other than a passport. I'll get back to you once I clarify that.
only a passport is required for international users.
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