Pinkoin to Naira: backed by Amos Omotade’s InksNation, the token is pegged to $9,353.8389, existing solely as a humanitarian crypto coin.
It originates with a gaggle of decentralized finance investors based in Lagos, Nigeria. The token operates on a non-conforming blockchain, preferring human agency to the traditional nodes in Bitcoin Smart Chain.
Obviously, Pinkoin is not your typical idea of a crypto asset. Its owner, the operators of InksNation, says that the coin is for charity. But that is not all to it.
Here is a scoop of the services in InksNation as a Defi realtor.
Pinkoin trades on the parent company’s exchange run by the founding team. You can access an audit (unavailable despite an icon brandishing it) about the blockchain on the site.
The founding team coopts a few Europeans, for the benefit of Nigerians looking for an ego trip, and several Nigerians, with Omotade, the CEO of IBSamrtify Nigeria. Now, IBSmartify props InksLedger, the company’s blockchain tech (assuming there is one).
So far, everything revolves around the company, which even lacks enough accreditation to put Pinkoin on Binance.
Besides explaining the Pinkoin to Naira conversion procedure, we explore the prospects of earning profits from InksNation as a Defi venture. See below for details.
Convert Pinkoin to Naira using the following steps
Before we delve into the earning options or the legitimacy of Pinkoin InksNation, we outline the exchange steps. Here is how it works.
Note that the conversion is merely a peg, as in an arbitrary price tally. So you will have to go through the following stages.
- Find a Pinkoin Exchanger.
- Log in to your wallet (the one supported by InksLedger).
- Once you access your dashboard, click on Spendable.
- Opt for a Pinkoin to Naira exchange.
- Select an exchanger from the available list.
- Provide Exchanger Wallet address and indicate the amount.
- Also, provide your PIN, an authorization premium.
- Then, send the transaction (tap on the Send icon).
- Subsequently, the exchanger dispenses your money.
However, if you only wish to check the conversion stats _ how 1 PKN (Pinkoin) measures up to $1 _ see the short draft below.
InksNation pegs 1PKN to $9,353,8389.
Impliedly, it is worth 9,353,8389 times the value of a USD in Naira. How InksNation adjusts this peg is a mystery, given that pair-offs vary with real-time foreign exchanges (Forex).
Does the Pinkoin to Naira tally even have any monetary value? Is it merely a math sprint that gets you nowhere?
Most reviews tend to take the neutral ground, claiming legitimacy on the one hand while pointing out issues on the other. See our take on this issue in the following section.
How does Pinkoin even work?
Answering the question in this header is akin to pinning the purpose of InksNation. A fair shot is that the company is launching a gaudy ICO in the guise of a game-changer, humanitarian token.
How can you tell? (InksNation has a CAC index, after all)
A CAC index does not equal financial regulation (check the difference) for all it is worth.
Regulators ensure that money handlers (especially InksNation that prefers human nodes to conventional blockchain) operate legit businesses. Ergo, InksNation sidesteps this crucial financial prelim for a mere CAC.
Further, the Pinkoin to Naira exchange is supposedly run by a hilarious squib of a blockchain, InksLedger. So, we explain this bit in the following section.
Change Pinkoin to Naira on Non-existent InksLedger
InksLedger is the ultimate game-changer that supposedly runs Pinkoin, helping InksNation to hedge world currencies from failing. After all, it should be self-correcting enough to accomplish the following task.
All LivingNodes will receive a minimum of 0.04% from his or her $800,000 tokenization on the InksLedger Blockchain as Universal Child Basic Income.
Governments can program their National Salary System on the InksLedger Blockchain to ease the effect of COVID’19.
The first retort to the above clips is that the company does not even have any blockchain. How can you make profits from such a platform? Here is how InksLedger births the idea.
A video shows that InksLedger prioritizes human assets instead of AI, bots, or inanimate entities. (According to an InksLedger human tokenization plan)
To even the odds, the company maps Living Nodes (LN) to every member. Correspondingly, the LNs are tokenized cryptographically on the InksLedger blockchain.
The same deluge of buzzwords estimates the ensuing cash flow as $800 000 worth of Pinkoins, arbitrarily pegged to $9,353,8389 per one.
Same old MLM charity gimmick
According to InksNation, LNs operate on a Strategic Global Abundance Monetary Policy, which lacks even a review from an independent source (the same issue about the InksLedger audit).
Subsequently, the currencies will accomplish the following goal.
The Human Asset Backed Currencies are built on Strategic Global Abundance Monetary Policy which will strengthen all currencies and bail their Nations out of debts.
The above clips should serve as enough red flags for anyone looking to access a fictitious Pinkoin to Naira exchange.
InksNation is merely a multi-level marketing company shroud in buzzwords. It attempts to offer a disruptive paycheck model for people around the globe, including world governments. That is funny, especially as it comes from a company in Lagos, Nigeria.
Besides, how does InksNation prioritize human agency for generating profits if it cryptographically sources the $800,000 Pinkoins in its moniker?
Even if it is possible to achieve the task, it does not explain how the cryptography bit works outside inanimate algorithms.
Until InksNation answers these questions, it remains a mere MLM company.