Hi everyone, I hope you all are doing good and taking precautions as well. This post focuses on some major updates about Coinsbit India's CIN token airdrop. This airdrop is for everyone whether you are an Indian user or an international user. So, let's hop in.
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.
3 Stages of Airdrop
So, previously I told you guys that the airdrop will provide you 2000 CIN tokens worth $200. But now Coinsbit India has announced that the airdrop consists of 3 rounds. Let's see what are these 3 rounds.
Round 1
Time Period: 09/April/2021 - 19/June/2021
This is the initial and current round and will end on the 19th of June i.e, in 4 days from now(15/June/2021). So, hurry and grab this opportunity because this round will provide you 2000 CIN tokens worth $200 for signing up and completing successful KYC. The referral system is like
Level 1: 1000 CIN TOKENS per referral worth $100.
Level 2: 500 CIN TOKENS per referral worth $50.
Level 3: 250 CIN TOKENS per referral worth $25.
Level 4: 100 CIN TOKENS per referral worth $10.
Level 5: 50 CIN TOKENS per referral worth $5.
PS: Your referrals need to complete their KYC's on the Coinsbit India Platform.
To learn about the KYC procedure and CIN token, check out my initial post.
PS: Level 6 mentioned in the above image is not part of the referral program and will not earn you any tokens.
Round 2
Time Period: 20/June/2021 - 09/July/2021
This is the second round and it will provide you with CIN tokens worth $100. Succesful KYC is mandatory and it also has a referral program.
Level 1 — $50 (500 CIN tokens)
Level 2 — $25 (250 CIN tokens)
Level 3 — $15 (150 CIN tokens)
Level 4 — $10 (100 CIN tokens)
Level 5 — $5 (50 CIN tokens)
PS: Your referrals need to complete their KYC's on the Coinsbit India Platform.
Round 3
Time Period: 10/July/2021 - 31/July/2021
This is the 3rd and last round for the airdrop and will provide you with 500 CIN tokens worth $50. You have to complete a successful KYC and the referral system is as follows.
level 1 — $25 (250 CIN tokens)
level 2 — $15 (150 CIN tokens)
level 3 — $10 (100 CIN tokens)
level 4 — $5 (50 CIN tokens)
level 5 — $3 (30 CIN tokens)
PS: Your referrals need to complete their KYC's on the Coinsbit India Platform.
So, grab your 2000 CIN tokens by registering here before the amount of airdrop reduces.
That’s not all, it actually pays to have more friends on Coinsbit India. Users with the highest referral bases get huge cash prizes. The rewards are:
1st place — $5000
2nd place — $3000
3rd place — $1000
4th place — $500
5th place — $300
Distribution Of Airdrop Tokens
Now as I suspected in my initial post the distribution of these tokens will probably take place in phases or cycles, this is exactly what's going to happen. You will receive your initial signup bonus of 2000 tokens but only 10% of them will be unlocked per month, i.e. 200 tokens. This applies to all of your tokens which means that if you have 3 Level 1 referrals then your total count of CIN tokens will be 5000 but only 10% of them will be unlocked i.e. 500 tokens. It applies to all 3 rounds of the airdrop. The unlocking will take place only after the trading of CIN token will start i.e. after round 3 of airdrop ends.
Staking and Fee reduction
Not much is revealed yet about the staking but you could have an opportunity to buy CIN tokens and start earning on the staking pool at a 3% monthly rate, once the trading starts. The holders of CIN tokens will also get a 25% discount on trading fees by paying in CIN.
This is all I have from now and if any other update arrives, I will update you guys. But please do consider researching by yourself because it increases your knowledge about the crypto industry and also makes you confident about the projects whether they are reliable or not. For quicker updates follow me on Twitter.
Join the referral program here and get your 2000 CIN tokens.
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