Reliance Jio quietly launches JioCoin cryptocurrency token in its JioSphere web browser

Users of the JioSphere web browser have started observing the introduction of JioCoin, a cryptocurrency token created on Ethereum Layer 2 and currently listed on the Polygon Labs cryptocurrency platform.

Users of the JioSphere web browser have reportedly noticed the introduction of JioCoin, a cryptocurrency token that has been built on Ethereum Layer 2 and is currently listed on the Polygon Labs crypto platform.

Users of the JioSphere web browser have reportedly noticed the introduction of JioCoin, a cryptocurrency token that has been built on Ethereum Layer 2 and is currently listed on the Polygon Labs crypto platform.

While the company is yet to make an official announcement, several JioSphere users, both on Android and iOS devices, have spotted JioCoin on their mobile devices, as per a report by the Indian Express.

While the company is yet to make an official announcement, several JioSphere users, both on Android and iOS devices, have spotted JioCoin on their mobile devices, as per a report by the Indian Express.

Described as blockchain-based reward tokens, JioCoins can be earned by users for engaging with different mobile or internet-based apps as may be decided by Jio Platforms Limited (JPL) and by using their Indian-based mobile numbers.

Described as blockchain-based reward tokens, JioCoins can be earned by users for engaging with different mobile or internet-based apps as may be decided by Jio Platforms Limited (JPL) and by using their Indian-based mobile numbers.

By engaging with various Jio applications, users can accrue Web3 tokens which will then be credited to their wallets. The value of the token is determined by the level of user engagement, suggesting that JioCoin may soon be supported by apps like MyJio, JioCinema and others.

By engaging with various Jio applications, users can accrue Web3 tokens which will then be credited to their wallets. The value of the token is determined by the level of user engagement, suggesting that JioCoin may soon be supported by apps like MyJio, JioCinema and others.

As per the information on the JioSphere web browser, users can collect JioCoins for free simply by browsing the internet using the JioSphere platform. The coins that are collected can then be stored in the Polygon Labs wallet.

As per the information on the JioSphere web browser, users can collect JioCoins for free simply by browsing the internet using the JioSphere platform. The coins that are collected can then be stored in the Polygon Labs wallet.

Currently, there is limited information on the value of JioCoin and the methods to trade it. It is speculated that JioCoins could be used for services like mobile top-ups, utility bill settlements and other services that are facilitated by Jio.

Currently, there is limited information on the value of JioCoin and the methods to trade it. It is speculated that JioCoins could be used for services like mobile top-ups, utility bill settlements and other services that are facilitated by Jio.

An official announcement for JioCoin is expected from Reliance in the coming days, during which the company will reveal the value, capabilities and features of the token.

An official announcement for JioCoin is expected from Reliance in the coming days, during which the company will reveal the value, capabilities and features of the token.

In India, cryptocurrency is currently subjected to a flat 30 per cent profit tax, along with an additional 1 per cent tax deduction at the source (TDS), a regulation that will also be applicable to JioCoin.

In India, cryptocurrency is currently subjected to a flat 30 per cent profit tax, along with an additional 1 per cent tax deduction at the source (TDS), a regulation that will also be applicable to JioCoin.

The massive security breach at WazirX, which led to millions of Indians losing money, has resulted in a negative perception of cryptocurrency in the country. However, the sustained rise in the value of tokens like Bitcoin keeps the global outlook on blockchain-based currencies strong.