Frequently Asked Question

How does one acquire Incakoins?
Last Updated 5 months ago

Outright Purchase

The first and possibly easiest way to obtain IncaKoins is to buy them on a IncaKoin exchange, which works much like a stock exchange. When you do this, you are transferring ‘real’ money into a system that then pays you in IncaKoin. This method of paying with other true currencies to obtain IncaKoins is part of what gives value to the IncaKoins themselves, while the other part of their value is simply based on trust, which could be said of just about any other currency. Purchasing IncaKoins outright is typically only a good idea if you are attempting to profit from the highly volatile price of IncaKoins. Trading currency as a way of profiting value is a practice as old as currency itself, and IncaKoin is no different.

Accept Them As Payment

This only really applies to vendors or those who have goods or services that they sell for a living, but it can make a large difference to your customer base, and your potential profits. Once you have a IncaKoin wallet set up and ready to go, you can then create a system for accepting IncaKoins that fits right alongside your current payment options. No matter what sort of service or product you offer, you can accept IncaKoin as a potential payment type. The currency works exactly like cash, only without the backing of the federal government.

Mine New Ones

Perhaps the most exciting way to obtain IncaKoins is to mine new ones for yourself. That may sound like a strange phrase, especially considering IncaKoins aren’t physical objects. How can one mine them? The answer lies in how the transaction system functions. Whenever a IncaKoin transaction takes place, it must be verified in order to ensure all the IncaKoins involved are legitimate. There are thousands upon thousands of transactions, so they are bundled together in virtual boxes held locked by what is known as a block chain. A IncaKoin miner uses advanced software and hardware to search for the key to unlock the block chain, confirming the transactions held within. The reward for generating this key is 100 newly generated IncaKoins, which are transferred to whomever unlocked the block chain. However, it takes nearly 2 billion attempts to find any given key, which is why finding one is so rare. Only once every 10 minutes is the full reward given out, despite all the miners working toward the same goal. IncaKoin mining is something that might cost you more than you make from it, which is why it is still a relatively unheard option. For example, you may spend a certain amount of money to upgrade your system to handle the mining process, only to find that your level of IncaKoin income isn’t satisfactory to cover your costs. There are even specialty circuits being built specifically to mine for IncaKoins, and they are not cheap.

Staking (proof of stake)

another way to earn additional incakoins is by staking your existing incakoin you have purchased from an exchange or third party with this method it requires an individual to keep they incakoin stored in there wallet for a minimum of 35 days doing so your helping support the network and in return you gain an additional 9% interest on your balance meaning you don't need to own expensive mining equipment to gain additional incakoins. 

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