With a desire to create wealth that goes beyond control, a lot of cryptocurrencies have been set up. These are the digital assets one acquires and wor
With a desire to create wealth that goes beyond control, a lot of cryptocurrencies have been set up. These are the digital assets one acquires and works as a medium of exchange or by creating additional units of currency through cryptography. One of them is the interesting GetGemz.
GetGemz is interesting and special because it utilized the social media technique to target its users. It is a form of decentralized cryptocurrency that uses a text mobile app to gather gems (currency incentive). Developed by $400000 worth Israeli developer, the app is encrypted in telegram and is free to download.
How it works
It was nicknamed as a first messaging app that pays you to use it. One earns 25gemz when they obtain a successful referral network i.e the one they introduce, introduce another to the network. Additionally, 27,500 gemz are distributed to the whole network and one with wider network gets a lot.
Basically, one downloads the app and signs up in a lengthy process. You then provide details such as username and profile picture. Just the way you would setup a social account. The only difference comes in when you set your wallet pin. Then the app asks you who referred you to it. On input, the person gets rewarded. And the one that installs by your referral earns you 25 gemz too.
Miners are the most important people in get gem crypto currency. They are the ones that stamp the transactions as complete. Without them there would be no transaction so to say. Due to this, they are given small token of get gems as a reward. When a transaction has been mined thus it means it is complete. There has been a successful exchange.
Getgemz targets youth or a text population. It has presented itself in a playful colorful theme that encourages users to play (exchange). The lustrous illustration by the app lures one into it. It is simple thus attractive and easy to use. It has also incorporated a social media aspect where the young population spends most of the time and has a lot of friends and followers making it simpler to use and refer.
It has the bitcoin feature too. This has tapped those that are currently using bitcoin too. All they have to consider is the retailing price and choose the one to trade in. Gemz are currently traded in markets like BTER and polonex for $0.01
What stands out with GetGemz is the way it has high security feature that cannot be easily hacked.