Most people have heard of Bitcoin. Bitcoin is a decentralized virtual currency that can be used online just like regular cash! ‘Decentralized’ means that the currency is not controlled in a linear fashion. In effect it negates the need for banks and unwieldy transaction fees.
Alternative virtual currencies (like Audiocoin) are based on the same protocol as Bitcoin and these alternative currencies (You may have heard of Litecoin or Dogecoin) can be traded on virtual online currency exchanges such as Cryptsy and Coin Swap.
In a nutshell, these currencies can be used to pay for services or goods just like a regular currency. They have the advantage of being more secure and have negligible transaction fees. Once you start using virtual currency you have your own digital wallet to store your coins.
When our AUDIOCOIN is launched we will lobby for it’s inclusion on the virtual currency exchanges so that it can be traded and invested.
You’ll be able to use AUDIOCOIN on Aurovine. We’ll give rewards to people who use the platform regularly, share links and spread the word. Artists will benefit by receiving AUDIOCOINS when anyone streams or downloads a track. They can choose to keep the coins or convert them to $ Dollars or £ Pounds.
Everyone who is signed up to Aurovine (Fans & Artists) will receive a quantity of AUDIOCOINS as a thanks for being part of our project and to get them started using the coins. You will also be able to download your own wallet from our website. You can also visit the AudioCoin website to register for the FREE bounty.
You’ll also be able to earn more coins by referring other users to our site! What could be better than listening to music and earning real virtual currency at the same time?. You’ll also be safe in the knowledge that Artists are getting properly rewarded for their music.
We’ll be publishing more details closer to our launch but you can already start earning AUDIOCOINS by contributing to our Seedrs fundraising project.
If you would like to accumulate some AUDIOCOINS without going through Seedrs we’re giving 500 AUDIOCOINS for every £1 donated here on our blog.