About ConvoCoin

What is ConvoCoin?

ConvoCoin is a 3rd-generation cryptocurrency for the masses that rewards you for chatting. It is one of the missions of ConvoCoin to give more people easy access to cryptocurrency.

1st generation cryptocurrencies are currencies like Bitcoin, which were some of the first platforms that allowed for financial transactions in a decentralized manner. Other cryptocurrencies like Ethereum are 2nd-generation cryptocurrencies because their platforms allow code to be run in a decentralized fashion (on top of being a way to transfer money). ConvoCoin is one of the first 3rd-generation cryptocurrencies, which are a new generation of cryptocurrencies dedicated to solving problems of current cryptocurrencies. One example of a 3rd-generation cryptocurrency is Cardano, which aims to solve problems of scalability and interoperability.

ConvoCoin aims to solve the problem of cryptocurrencies only being accessible by tech enthusiasts by distributing currency to the masses through the use of chat platforms. By using chat platforms such as Discord along with the ConvoCoin bot, users can easily earn our cryptocurrency.

How do I receive ConvoCoin?

By using supported chat platforms (Discord) along with the ConvoCoin bot, you will automatically receive free ConvoCoins daily. To learn more about how the distribution model works, please see the distribution page.

How much is ConvoCoin worth?

When Bitcoin was first released, each Bitcoin was worth $0. However, as the years passed and more people started to use Bitcoin, the price started to rise into cents, dollars, hundreds of dollars, thousands of dollars, and finally to the all-time high in 2020 of $20,000+.

Similarly, ConvoCoin is currently worth $0, since it was just recently created and released. By no means do we expect the coin to ever reach close the same price as Bitcoin, and we don't want to mislead anyone about the price of the coin. However, as more people start to use ConvoCoin, demand will rise, while the final supply will stay at the fixed 21 million ConvoCoins, and the price will increase (due to basic supply/demand economics).

For now, we recommend accumulating ConvoCoins and using them to pay friends to add utility and value to the coin. For Discord users, server admins can create incentives such as special roles and charge ConvoCoins for the roles.

When will I be able to exchange my ConvoCoins for fiat money (such as USD)?

We plan on going live on a decentralized blockchain and at least 1 decentralized exchange sometime in 2021. At that point, you will be able to exchange your ConvoCoins on the decentralized exchange for another more commonly used cryptocurrency, which can be exchanged for fiat money (such as USD) on centralized exchanges. We will be sure to notify you through the chat platforms when we go live on a blockchain and exchange.