What is JasmyCoin (JASMY) and How Does It Work in 2024?

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We recognize your curiosity regarding the query “What is JasmyCoin?” Be assured, you will soon obtain the answer you are searching for.

JasmyCoin (JASMY) is an intriguing blockchain project that aims to revolutionize how data is handled and monetized in the age of IoT devices.

Powered by its native JASMY token, JasmyCoin’s blockchain network allows users to take control of their personal data by storing it securely and granting permission-based access to companies.

Through its innovative use of distributed ledger technology, JasmyCoin looks to reshape the relationship between individuals, devices, and businesses by putting people back in charge of their information.

Curious to learn more about this ambitious undertaking? Then read on to understand what JasmyCoin is all about and how it works its magic.

What is JasmyCoin?

What Is JasmyCoin EXEcrypto.com

JasmyCoin was created by Japanese technology company Jasmy to address the lack of transparency and individual ownership inherent in the current personal data economy.

As more “smart” devices enter our lives, a tremendous amount of user data is being collected, aggregated, and monetized by tech giants with little benefit given back to the people who generate this information.

Jasmy aims to remedy this imbalance with a decentralized framework empowering individuals to securely store their data on the blockchain.

There, each person’s unique profile can be finely managed and permissioned access granted – with micropayments in JASMY tokens awarded in return.

This “data democracy” system seeks to fairly distribute the economic value created from personal information to those who generate it.

The JASMY token is therefore the lifeblood fueling this new Personal Data marketplace. It serves as the currency individuals receive for sharing their profiles, and the currency businesses must hold to purchase targeted usage rights.

How does JasmyCoin (JASMY) work?

Now that we’ve obtained the answer to ‘What is JasmyCoin?’, let’s delve deeper into its functionality.

At the core of the JasmyCoin project lies its custom blockchain – a distributed ledger purpose-built to support IoT devices and Personal Data management.

Here’s a brief overview of how it all comes together:

Personal Data Lockers (PDLs) – Individuals can create encrypted profiles to store their data securely on-chain.

IoT Devices – “Smart” objects like home appliances link up to share sensor readings with a user’s PDL.

Data Marketplace – Businesses can browse PDL profiles, make offers in JASMY to access attributes for marketing use cases.

Micropayments – When data usage permissions are granted, JASMY tokens are automatically sent to individuals as compensation.

Governance – The decentralized Jasmy network is ruled by token holders who vote on protocol upgrades.

So in a nutshell, JasmyCoin brings together blockchain, IoT sensors, and its native coin to establish a new personal data economy where identity ownership and participation is sovereign to each user.

Does JasmyCoin (JASMY) have a future?

JasmyCoin JASMY crypto future

Considering its strong emphasis on data privacy and ownership in the IoT era, many see potential in JasmyCoin’s long term prospects.

As personal digitization accelerates, people will increasingly want control over their informational profiles. Jasmy offers a compelling solution for this growing need.

The project also benefits from a well-known founding team of tech veterans including a former Sony president. With continued product expansion, partnerships and real-world use cases, Jasmy could emerge as a frontrunner in the open data revolution.

Only time will tell, but signs so far indicate this innovative token may have a vibrant future ahead.

If you liked the answer we provided with EXEcrypto to the question “What is JasmyCoin?” and if you’re curious about all crypto news and details of coins, follow us to get information at the speed of light.

When JasmyCoin (JASMY) launched?

JasmyCoin launched in 2017 after a year of development by its parent company Jasmy Corporation.

The token was initially an ERC-20 coin issued on the Ethereum blockchain but later migrated to its native Jasmy mainnet following the anticipated Ethereum hard fork.

Is JasmyCoin (JASMY) a scam?

What Is JasmyCoin and Is Jasmy a scam?

No, most experts do not consider JasmyCoin to be a scam for the following reasons:

  • It comes from a registered Japanese corporation with experienced founders.
  • The company is publicly known and doxed.
  • Jasmy has an active community and ongoing product development.
  • Major exchanges like Binance and Gate.io have listed the project after thorough vetting.

While the project remains a risk given the speculative crypto market, there are no overtly suspicious signs yet to label JasmyCoin as a scam outright.

Of course, as with any investment, do your own research before allocating funds.

Is it safe to invest in JasmyCoin (JASMY) ?

As with any relatively new crypto project, investing in JasmyCoin carries risks and volatility. However, with proper risk management practices, it can be a reasonably safe investment depending on your risk tolerance and goals. Some tips include:

  • Only invest what you can afford to lose without major issues.
  • Diversify your portfolio instead of going all-in on one coin.
  • Research the project thoroughly before investing long-term.
  • Set realistic return expectations given the early stage.
  • Consider staking for rewards instead of speculative trading.
  • Store coins securely in a trusted non-custodial wallet.

By practicing smart investment habits, JasmyCoin offers an intriguing opportunity for privacy-conscious long term HODLers and believers in its vision. But investors must ultimately assess their own personal risk profile.

Is JasmyCoin (JASMY) worth it? JASMY Price 2024

JasmyCoin JASMY token price 2024

With a market cap of over $260 million as of 2023, JasmyCoin remains vastly undervalued based on its ambitious scope and large addressable market.

If the project delivers on its tech roadmap and partnerships continue developing, there is massive growth potential ahead for JASMY price in both the mid and long term.

Some experts predict JasmyCoin could hit $1 by 2025 if momentum builds. More conservative estimates place it around $0.5. Either way, even a 3x return in a few years is impressive given crypto’s volatility.

For those with a high risk appetite and eyes on the future, Jasmy may indeed prove very worthwhile in 2024 and beyond. But as always, do your research before making investment decisions.

Where to buy JasmyCoin (JASMY) ?

Some top exchanges to purchase JASMY tokens include:

  • Binance – Largest exchange by volume with JASMY/BTC, ETH, USDT and BUSD pairs.
  • KuCoin – Well regulated derivatives exchange offering JASMY/USD pair.
  • Gate.io – Supports JASMY withdrawal to external wallet.
  • CoinSwitch Kuber – Leading Indian exchange with JASMY/INR buying option.
  • Crypto.com – Popular app-based exchange, buy with credit/debit cards.

Users are advised to consider factors like fees, available payment modes, regulation and jurisdiction before choosing an exchange best suited to their needs. Hardware wallets also enable safe long term storage of JasmyCoins post purchase.

How to sell JasmyCoin (JASMY) ?

Selling JasmyCoins follows a near identical process as buying but in reverse:

  • Transfer JASMY from personal wallet to your preferred crypto exchange.
  • Select “JASMY” on the exchange’s markets page and locate the sell order window.
  • Enter amount of JASMY to sell along with expected price and review order.
  • Choose withdrawal method like crypto, wire transfer or payment wallet.
  • Confirm transaction when funds reflect in your selected withdrawal account/wallet.

Be wary of price impact costs for large market orders. Limit orders or DCA selling strategies tend to fetch better average prices during volatile times. Also confirm exchange withdrawal limits, timings and charges in advance.

How to stake JasmyCoin (JASMY) ?

JasmyCoin JASMY token stake

A profitable way to hold JASMY long term is via crypto staking. Many exchanges support JasmyCoin staking directly:

  • On Binance Earn, users can stake JASMY for 8-14% annual percentage yield (APY).
  • Gate.io offers a 10-15% staking APY paid out weekly for JASMY coins locked for periods of 2-6 months.
  • Freewallet app supports staking via their decentralized node at 12% APY.

Staking rewards are a safe passive way to grow your JasmyCoin holdings without active trading or additional risk. Consider minimum balances and locking timeframes before choosing the best staking platform suited to your strategy.

How to mine JasmyCoin (JASMY) ?

Unlike PoW coins like Bitcoin, Jasmy is a Proof of Stake (PoS) token and thus not mineable using specialized mining rigs. The only way to obtain JASMY is by:

  • Purchasing coins from exchanges as discussed earlier in the guide.
  • Earning staking rewards by delegating your coins to staking pools.
  • Receiving them as token prizes or bounties from participation in community engagement activities as approved by Jasmy Corp.
  • With its PoS consensus, JasmyCoin can’t be mined but simply purchased and then staked to generate passive returns on holdings over time instead of energy intensive mining.

Our goal was to address the query ‘What is JasmyCoin?’ and we’ve effectively accomplished it. Should you seek further elucidation beyond our article, feel free to leave a comment or reach out to us.

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