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Akoin (Blog2)

Akoin

Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa and beyond. Furthermore, it was created by visionary global artist, change-maker, innovator and humanitarian, Akon.

Akoin, along with Akon, has a truly ambitious goal. The goal of uniting Africa under one currency so that the nations in Africa can have a more stabilized currency. One March 31, 2020, if you were to go to South Africa and exchange one US dollar for a South African Rand, you would receive 17.97 South African Rands. However, if you go right next door to Namibia and did the exact same exchange you’d receive $14.89 Namibian dollars. Nonetheless, Akon and Akoin’s goal is to provide a stable currency for the whole of Africa to allow African innovators to take a place on the world stage. This is an ambitious goal, but we believe it can be accomplished with the right people supporting the growth of the cryptocurrency.

How have you purchased the Akoin before?

No, we haven’t. Currently, the currency is not available for purchase. They did have an initial Token of Appreciation (TOA) event to raise funds. However, we sadly missed that opportunity. We are a part of their telegram group and are currently awaiting the announcement for a purchase date so we can get in early on securing the cryptocurrency for ourselves to support the community of Africa.

How can the cryptocurrency be used in daily life?

We look at this cryptocurrency differently than others we purchase. Other cryptocurrencies it’s about purchasing a good amount at a low value with the goal of cashing out once it’s had healthy growth. Similar to the Bitcoin boom that people talk about. However, with Akoin it is about getting in early before the value of the currency increases. But it is also about providing a strong currency for the people of Africa to have a foundation for their entrepreneurial endeavors and innovations. This will allow for new technological advancements for our planet that could change our lives in a variety of ways and that’s what we are more focused on for the impact it’ll have on our daily lives.

How does the currency compare to the market in price?

Well as of March 31, 2020, no official announcement has been made on the entry price of the cryptocurrency. However, based on some discussions we can make an educated guess that it may be around $0.15 for each Akoin. When Bitcoin first launched it was $0.08 for each Bitcoin in July 2010 and went to $0.125 by October 2010. Other cryptocurrencies also start off under $1.00 and most are under $0.50 per coin. With that being said, Akoin is on par but potentially closer to the high end for possible starting value when it hits the market.

What are some areas of improvement?

One challenge and frustration we have noticed from the community discussions is not having a firm deadline for when Akoin will be available for purchase. They do have a quarterly timeline on their website for when they will accomplish each goal. However, it has lead to some eager individuals during the COVID-19 outbreak to become frustrated with not having a solid date. Also, it has allowed for some scammers to pop up and say they can sell Akoins to people before it has hit the market, which the Akoin team is actively addressing and educating their community on.

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Affiliation

Do you have a vested interest in the company?
No, we have made no resource or financial investment in Akoin. However, we do plan to invest once the opportunity becomes available.

Have you used their products or services?
No, we currently are a part of their discussion groups and mailing list.


Nonetheless, you can learn more about our recommended businesses on our companies page.

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