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Shping Coin

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Discover Shping Coin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Shping Coin?

Shping Coin (SHPING) is a cryptocurrency token that powers the Shping economy, a blockchain-based marketing platform. It rewards users for engaging with brands and products through various activities such as scanning barcodes, watching videos, and writing product reviews. The token aims to enhance relationships between brands and consumers, providing a more transparent and rewarding shopping experience.

How is Shping Coin used?

Shping Coin (SHPING) is a blockchain token that powers the Shping economy, providing rewards to users of the Shping app. The app allows users to earn Shping Coins by engaging in various activities such as uploading receipts, scanning product barcodes, and participating in brand interactions. These coins can be directly converted to Australian dollars and transferred to a bank account, offering a cash-convertible reward system.

How do I store Shping Coin?

To store Shping Coin (SHPING) tokens, you have two primary options:

  1. Store on an Exchange: Holding your Shping Coin on an exchange provides convenient access to various investment products and features, such as spot and futures trading, staking, lending, and more. The exchange will securely hold your funds, but you must ensure the exchange has strict security measures in place to protect your assets.

  2. Non-Custodial Wallets: For enhanced security, you can store your Shping Coin in a non-custodial wallet, which grants you complete control over your private keys. This option includes hardware wallets, Web3 wallets, or paper wallets. Be cautious not to lose your private keys, as this could result in the permanent loss of your Shping Coin.

How to buy Shping Coin?

To buy Shping Coin (SHPING) tokens, follow these steps:

  1. Create an Account:

    • Choose a reliable exchange such as Coinbase, Binance, or Gate.io.
    • Sign up by providing necessary information, including your email address and a secure password.
    • Complete any required identity verification steps.
  2. Add a Payment Method:

    • Most exchanges support credit/debit cards, bank deposits, and peer-to-peer trading.
    • Some exchanges also offer third-party payment channels.
    • Ensure you understand the fees associated with each payment method.
  3. Buy SHPING:

  • Navigate to the Buy & Sell section and select SHPING as the cryptocurrency you want to buy.
  • Choose your preferred order type: Market Order, Stop Order, Limit Order, or TWAP Order.
  • Enter the amount you want to buy, which can be a fraction of a SHPING.
  1. Transfer to Your Wallet:
    • Once purchased, you can hold SHPING in your exchange account or transfer it to a personal cryptocurrency wallet like Metamask.
    • This allows you to trade SHPING for other cryptocurrencies or use it on decentralized exchanges.

Additionally, you can also buy SHPING directly through a crypto wallet if supported, or purchase a more popular cryptocurrency like USDT and then exchange it for SHPING.

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History of Shping Coin

Shping Coin (SHPING) is a blockchain token that powers the Shping economy by providing rewards to Shping app users. The Shping platform aims to revolutionize the way shoppers interact with brands by establishing direct, meaningful relationships through rewards and engagement. The token is designed to incentivize consumers to engage with brands, share product reviews, and contribute to the platform's global product database.

The Shping project has undergone several phases of development, with each phase focusing on expanding the platform's capabilities and user base. The initial phases involved the development of the Shping App, Global Product Database, and Shping Marketing features. Subsequent phases introduced new functionalities, such as the Shping Coin system, integration with cryptocurrency exchanges, and the development of a blockchain-based ledger.

Shping Coin is currently available for purchase on various cryptocurrency exchanges, including Coinbase, Uniswap, SushiSwap, and Liquid. The token's price has fluctuated over time, with significant changes in its value within short periods.

The Shping project continues to evolve, with ongoing development of features such as traceability, augmented reality marketing, and instant checkout through the app. The platform's vision is to become the currency of choice for all information, goods, and services transactions for brands, retailers, and industry organizations.

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How Shping Coin works

The Shping Coin (SHPING) is a cryptocurrency that powers the Shping ecosystem, a platform designed to enhance the shopping experience by providing rewards to users for their engagement and loyalty. Here's how it works:

Earning Shping Coins

Users can earn Shping Coins by performing various tasks within the Shping app, such as:

  • Scanning barcodes of products
  • Uploading receipts from purchases
  • Watching videos
  • Writing product reviews
  • Completing missing product information

These actions are incentivized through Operant Conditioning, encouraging users to engage with the platform and contribute to the product database.

Cash-Out and Trading

Shping Coins can be cashed out directly to a user's bank account in Australian dollars. The process involves opening the Shping app, selecting the desired amount of coins to withdraw, and following a few simple steps to complete the transaction. The funds are typically available within 1-2 business days.

Additionally, Shping Coins can be stored in a crypto-friendly digital wallet and traded like any other digital currency on various exchanges, such as Coinbase, Uniswap, SushiSwap, and Liquid.

Tiers and Multipliers

The Shping app has a tier system that rewards users for their engagement. As users progress through the tiers, they can earn multipliers on their Shping Coin rewards, ranging from 1x for basic users to 1.6x for Ambassador-level users. This encourages users to utilize the app's features and contribute to the product database.

Product Database and Verification

The Shping ecosystem relies on a vast product database, which is maintained through user contributions and verified using Artificial Intelligence (AI) and human oversight. This ensures the accuracy and integrity of the data, allowing users to make informed purchasing decisions.

Partnerships and Expansion

Shping aims to establish direct relationships between brands and consumers, enabling brands to reward users for their engagement. The platform is currently focused on the Australian market but plans to expand to other markets in the future. Development of a Retail Module is underway, which will empower retailers to influence foot traffic, create flash sales, and offer augmented reality experiences.

In summary, Shping Coin is a cryptocurrency that rewards users for their engagement and loyalty within the Shping ecosystem. It can be earned through various activities, cashed out to a bank account, and traded on crypto exchanges. The platform's goal is to create a transparent and rewarding shopping experience by connecting brands and consumers directly.

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Shping Coin's strengths

The strengths of the SHPING Crypto Token, also known as the Shping Coin, include:

  1. Loyalty Token: It is a loyalty token accepted by various establishments, allowing brands to incentivize consumers to remain loyal to the company.
  2. Reward Mechanism: Users can earn points by doing things like viewing videos, writing reviews, connecting with brands, and scanning receipts.
  3. Governance Tool: It is used as a medium of exchange, a reward mechanism, and a governance tool.
  4. Limited Supply: There will only ever be 10,000,000,000 Shping Coins issued, which supports its long-term viability.
  5. Positive Response: The coin has received a positive response from investors, indicating its reliability.
  6. Traded on Prestigious Exchanges: Shping Coin is traded on the prestigious exchange Coinbase, which adds to its credibility.

These strengths indicate that the Shping Coin has a solid foundation and potential for growth and adoption in the market.

Shping Coin's risks

Shping Coin (SHPING) carries several financial risks. These include:

  • Volatility Risk: SHPING is known for its significant price fluctuations, which can result in substantial losses for investors.
  • Liquidity Risk: The liquidity of SHPING can be unpredictable, making it difficult to buy or sell the token quickly and at a fair price.
  • Short History Risk: SHPING has a relatively short history, which can make it challenging to predict its long-term performance.
  • Demand Risk: The success of SHPING is heavily dependent on its adoption by users and brand partners, which can be unpredictable.
  • Forking Risk: SHPING is susceptible to forking, which can lead to the creation of new tokens and potentially affect its value.
  • Code Defects: SHPING's code can contain defects that can compromise its security and functionality.
  • Regulatory Risk: Changes in laws and regulations can negatively impact the use and value of SHPING.
  • Electronic Trading Risk: Trading SHPING electronically can expose investors to technical issues and cybersecurity threats.
  • Cybersecurity Risk: SHPING is vulnerable to hacking and other cybersecurity threats, which can result in the loss of funds.
  • Market Risk: SHPING's value can be affected by broader market trends and economic conditions.

Investors should carefully consider these risks before investing in SHPING and ensure they have a high tolerance for risk and can afford potential losses.

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Shping Coin's ecosystem

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Shping Coin’s team

  • Absan Abdulhafedh: Community Manager, supporting inquiries and requests with precision and sensitivity.
  • John Wesley Salvador: Senior Developer, passionate about learning new web technologies.
  • Anton Jabchinskij: Erlang Developer, experienced in building APIs and services.
  • Christine Rianne: Head of Product Recall Data Excellence, responsible for collecting and verifying product recall data.
  • Ivan Vasliev: Erlang Developer, skilled in designing and developing complex projects.
  • Kirill Lyubimov: Mobile Developer, experienced in mobile development.
  • Dmitry Moryashov: DevOps Engineer, involved in software construction, deployment, and infrastructure management.
  • Maria Arshava: QA Manager, experienced in testing and writing specifications.
  • Gennady Volchek: CEO, highlighting the project's vision to become a universal rewards program.
  • Evgeny Markelov: CEO, Shping Moscow Office, experienced in senior positions in IT and financial enterprises.
  • Evgeniy Srednyakov: Partner & Client Service Director, Shping Moscow Office, expert in corporate management systems and logistics.
  • Nurul Huda Ab Hamid: ASEAN Corporate Sales Manager, leading business development in the ASEAN region.
  • Sasha Xie: Business Development Manager, China, responsible for marketing and coordinating Shping business activities in China.
  • Maria McInally: Customer Service/Account Manager, managing customer service and overseeing client needs.
  • Brent Vrdoljak: Involved in app UI improvements and data gathering to enhance user experience.

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