In fact, the Bitcoin Conference was held in the picturesque Florida city in early June. However, Miami Coin is no Bitcoin, so it’s important to understand the risks of this city-based digital currency before investing in it. Miami Mayor Francis Suarez says the city partnered with CityCoin, a cryptocurrency team that facilitates the launch of digital assets that support municipalities.
“In India, you cannot always depend on state funds for certain projects. What you do is borrow from people who live locally, and you promise them certain services, like roads. Then you earn interest based on whatever project is undertaken,” says Subramanian, who has authored how to trade oil five books on cryptocurrencies. People who hold Miami Coins can also collect rewards in the long term by depositing them into smart contracts. Congratulations, you are now set to earn a TREMENDOUS return on your investment, with minimal risk as far as exchanges go.
How do you get MiamiCoin?
We’ve found OKCoin to be an excellent exchange and we have encountered zero issues with them to date. Although this is stated in our blog’s Disclaimer, none of this is to be construed as financial advice. This is a demonstration of how to buy Miami Coin on OKCoin. Luckily, you can research a lot about Miami Coin right here on our site. Established in 1985, The Gold Bug is family-owned and -operated.
- Keep an eye out for MiamiCoin (MIA) on trusted exchanges once the cryptocurrency token lists.
- MIA owners can lock in the remaining 70% of the money to earn rewards in Stacks and Bitcoin.
- Firstly, according to Miami Coin’s main website, 30% of the revenue generated from Miami Coin will be forwarded to a wallet reserved for the city of Miami.
“In other places in the cryptocurrency sector, there are a lot of governance models that prevent people from taking over,” Subramanian says. Miami Coin could become an important vehicle for donations for the city, especially if the city uses its coins for attractive public works. People who want to support Miami could make it their medium of choice for supporting projects in the area. This could encourage people to hold the coin, and the price could go up as a result. One thing is for sure — Miami Coin is more than an ad for Miami.
You can now stack MIA with Earn and get STX rewards, and then you can stack STX to get bitcoin rewards. We don’t charge fees on Earn, so the rewards are all yours. There is a way to reduce this threat though, Subramanian says. The writers of the Miami Coin protocol could place limits on digital wallets. According to the cryptocurrency exchange OKCoin, Miami Coin is currently trading at roughly a third of what it did in November. In other words, if Miami Coin increases in price while it continues to flow into the city’s possession, Miami could have quite the digital bank account.
Set up an OKCoin Account
Buy & sell MiamiCoin (MIA) with fiat currencies (USD, CAD, AUD, EUR, GBP etc) or another coin such as BTC or ETH. Buy & sell MiamiCoin (MIA) with fiat currencies (USD, CAD, AUD, EUR, GBP etc). Easier for beginners to use but this convenience can come with higher fees. While he acknowledges the potential positive uses of Miami Coin, Subramanian says people need to be cautious before putting significant money into it. Whether Miami Coin will increase this much in price remains to be seen. “If Alice sends 10 STX to the contract and Bob sends 30 STX, then Alice and Bob have a 25% and 75% chance to win the rewards for that block, respectively,” CityCoin explained.
Click on “I’m new to Stacks.” Follow the prompts to complete the onboarding process. Make sure to guard this with your life and keep it somewhere safe.
Learn more about MiamiCoin
It is enriching both investors through stacking and bringing in millions for the City of Miami. We are going to walk everyone who is new to Miami Coin (MIA) through the process of purchasing this hot new crypto on OKCoin in this blog post. While you can’t start buying Miami Coin just yet, there are plenty of cryptos in the sea.
Only on Okcoin
Now, Miami has snatched the crypto headlines once again as it launches its own digital currency, MiamiCoin (MIA). 100% of mining commitments are Stacked in a smart contract and the corresponding rewards are distributed proportionately amongst NYCCoin holders. 100% of mining commits are sent (in STX) to Miami’s reserved wallet. MiamiCoin holders can vote on whether to distribute funds to a respective city gov unless already contractually obligated to honor existing agreements.
MiamiCoin crypto token price, where to buy, and symbol
So the U.S. dollar is the only currency you could ever spend in Miami. The idea is that individuals can use STX to mine MiamiCoin, and 30% of the revenue will go to Miami. The city can use that cash to fund any projects it wishes, including, according to Mayor Francis Suarez, helping the homeless or funding policing initiatives. MiamiCoin (MIA) is on the Ethereum network (ERC-20) so it can be stored using any ETH compatible wallet. This website is using a security service to protect itself from online attacks.
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The owner has 25+ years of experience in dealing in priceless and valuable items, including Precious Metals, like bullion and coins. This family business boasts more than 50 years of combined experience between the two owners. They specialize in buying and selling all U.S. and foreign Gold, Silver, Platinum and Palladium bullion and coins, as well as currency.