Wifi Coin

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Discover Wifi 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 Wifi Coin?

WiFi Coin (WIFI) is a blockchain-based cryptocurrency that powers the WiFi Map ecosystem, a community-driven decentralized wireless network with a database of over 4.5 billion WiFi hotspots. The token allows users to participate in the network, earn rewards, and access premium services such as eSIM mobile data plans. It is built on the Polygon network and supports secure, instant transactions globally.

How is Wifi Coin used?

The crypto token WIFI, also known as WiFi Coin, is a utility token created by WiFi Map to reward contributors and provide access to premium services within the app. Here are the key ways WIFI is used:

  • Earn by Contributing: Users can earn WIFI tokens by adding new hotspots, verifying network information, and running internet speed tests. This encourages community participation and helps grow the app's database of WiFi hotspots.
  • Redeem for Services: WIFI tokens can be redeemed for eSIM mobile data plans, allowing users to access internet services.
  • Cashback Benefits: When users redeem WIFI tokens for eSIM plans, they receive a 15% cashback in WIFI tokens, incentivizing continued use of the token.
  • Tips to Appreciate: Users can send WIFI tokens to thank others who have contributed their favorite hotspots, fostering a sense of community.
  • Trading and Investment: WIFI tokens can be bought, sold, traded, and staked on several top-tier cryptocurrency exchanges, including OKX, Huobi, and Gate.io, allowing users to engage in trading and investment activities.

Overall, WIFI is designed to facilitate a community-driven, digitally-connected world by rewarding contributors and providing access to premium services within the WiFi Map app.

How do I store Wifi Coin?

To store Wifi Coin (WIFI) tokens securely, you can use a cold wallet, which is a wallet that is not connected to the internet. There are two types of cold wallets:

  1. Paper Wallet: This involves generating public and private keys offline and printing them on a piece of paper. The keys are printed in the form of QR codes, which you can scan for future transactions. Store the paper securely to protect your assets.

  2. Hardware Cold Wallet: This is a physical device, similar to a USB drive, where you can store your cryptocurrency. Your crypto addresses and keys are kept in the device, and only the person who possesses the device can access the assets. Hardware cold wallets are popular options for storing large numbers of coins or tokens.

Additionally, you can also store WIFI tokens in a non-custodial wallet like MetaMask. To add WIFI to MetaMask, you can import the token manually by copying its contract address (0xe238ecb42c424e877652ad82d8a939183a04c35f) or use MetaMask's chrome extension to add it with one click.

How to buy Wifi Coin?

To buy WiFi Coin (WIFI) tokens, follow these steps:

  1. Install a Browser Wallet:

    • Install MetaMask or any other browser wallet to store and manage your cryptocurrencies. This will be used to interact with decentralized exchanges like Uniswap.
  2. Deposit USDC (Polygon):

    • Deposit USDC (Polygon) into your wallet. This is the currency you will use to purchase WIFI tokens.
  3. Access Uniswap:

  • Go to Uniswap.org and select the Polygon network.
  • Connect your MetaMask wallet to Uniswap.
  1. Swap USDC for WIFI:

    • Enter the amount of USDC you want to exchange for WIFI tokens.
    • Confirm the transaction and wait for the confirmation.
  2. Alternative Exchanges:

    • WIFI tokens can also be traded on centralized exchanges like Gate.io, OKX, and Huobi Global. You can create an account on these exchanges and follow their procedures to buy WIFI tokens.
  3. Security:

  • For long-term storage, consider using a cold wallet like a paper wallet or a hardware wallet to ensure the security of your tokens.

For detailed step-by-step instructions, you can refer to the video tutorial on YouTube.

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History of Wifi Coin

The history of Wifi Coin (WIFI) is marked by significant highs and lows. The token has experienced erratic price movements over time. In March 2021, it reached its all-time high (ATH) of $0.7679. Since then, the price has been constantly changing. Despite the fluctuations, the token is predicted to increase by a substantial percentage by the end of 2024.

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How Wifi Coin works

The Wifi Coin (WIFI) is a utility token created by WiFi Map, a platform that rewards contributors for adding and verifying WiFi hotspots. Here's how it works:

Key Features and Uses
  • Reward System: Contributors earn WIFI tokens by adding new hotspots, verifying network information, and running internet speed tests. These tokens can be redeemed for premium features within the app, such as eSIM mobile data plans.
  • Redemption: WIFI tokens can be used to unlock eSIM data plans, and users receive 15% cashback in WIFI when redeeming for these plans.
  • Community Interaction: Users can send WIFI tokens to thank others who have added their favorite hotspots, fostering community engagement.
  • Trading: WIFI tokens can be bought, sold, traded, and staked on various cryptocurrency exchanges, including OKX, Huobi, and Gate.io.
Blockchain and Tokenomics
  • Blockchain: WIFI tokens are based on blockchain technology and were minted on the Polygon network, ensuring secure and instant transactions globally.
  • Tokenomics: The tokenomics of WIFI are designed to incentivize contributors and provide utility within the WiFi Map ecosystem.
Overall Functionality

The Wifi Coin (WIFI) is a digital currency that empowers the WiFi Map community by rewarding contributors and providing access to premium services. Its utility is centered around the WiFi Map app, where users can earn and redeem WIFI tokens for various benefits.

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Wifi Coin's strengths

The token Wifi Coin (WIFI) has several strengths that contribute to its value and utility:

  1. Community-Driven: WIFI is deeply integrated into the WiFi Map ecosystem, which has a large user base of over 150 million users. This existing community provides a strong foundation for the token's adoption and usage.

  2. Utility Token: WIFI serves as a utility token, allowing users to access premium services within the WiFi Map app. This includes redeeming tokens for eSIM data plans, earning cashback rewards, and participating in community activities like tipping contributors.

  3. Participate-to-Earn: The token incentivizes users to contribute to the platform by adding hotspots, verifying network information, and running speed tests. This encourages active participation and helps build a robust database of WiFi hotspots.

  1. Security and Speed: Operating on the Polygon blockchain network, WIFI facilitates secure and instant global transactions, ensuring a reliable digital currency for internet access.

  2. Trading and Investment: WIFI is listed on several leading cryptocurrency exchanges, including OKX, Huobi, and Gate.io, allowing users to trade and invest in the token.

  3. Cashback and Rewards: The token offers cashback rewards when used to purchase eSIM data plans, further enhancing its value proposition for users.

These strengths collectively contribute to the token's potential for growth and adoption within the WiFi Map ecosystem and the broader cryptocurrency market.

Wifi Coin's risks

The financial risks associated with Wifi Coin (WIFI) are significant and multifaceted. One of the primary concerns is the company's history of fraudulent activities and legal issues. Since its inception in 2020, Wifi Money, the company behind WIFI, has been involved in various get-rich-quick schemes, including cryptocurrencies, ecommerce stores, and pandemic-era tax rebates, promising followers the ability to make money easily by connecting to WiFi.

Several lawsuits have been filed against Wifi Money, alleging fraud, bankruptcies, mental breakdowns, and financial devastation. For instance, a former NFL linebacker, Avery Williamson, sued Wifi Money's founder, Alex Moeller, claiming he was defrauded out of over $400,000 in exchange for crypto tokens that never materialized. Additionally, dozens of investors have taken Wifi Money to court over fraudulent inducement, negligent misrepresentation, and civil conspiracy related to the sale of DBC stores, with many plaintiffs losing tens of thousands of dollars.

Furthermore, Wifi Money's business model has been criticized for its high commissions and refusal to return cash when stores were shut down by Amazon. This has led to financial devastation for many investors, with some even experiencing mental health issues due to the stress and guilt associated with their financial losses.

The company's lack of transparency and accountability raises significant red flags for potential investors. The financial risks involved with investing in WIFI are substantial, and investors should exercise extreme caution before considering any involvement with the company.

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Did Wifi Coin raise funds?

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Wifi Coin’s team

  • Wicrypt Team: The team behind Wicrypt, which allows users to earn cryptocurrency by sharing their WiFi hotspot, includes Ugochukwu Aronu, who founded the project in 2018.

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