Well I am here again with yet another mobile “mining” app review. Seems a perfect fit for someone who likes tinkering with phones and who enjoys trading cryptocurrencies. Anyway this time around, it is an app called GeoCash. You can download the app from Google Playstore or the iOS app store. You can use my referral code [GREATESTHERO_O944NY] if you want to. What basically they do is to get anonymous “BIG data” from your mobile device. And as to what “BIG data” is – well it can be very hard to explain what exactly consist of BIG data but I am guessing nearly everything in the general scale. And companies and businesses around the world use these data to make decisions.
In return for providing them with this kind of data, GeoDB will provide you with GEO tokens. Yes basically you are selling your information to them. But you get something in return. Unlike Facebook or Google or those big companies who takes your data and don’t give you much in return, GeoDB gives you GEO tokens which can be then traded in exchanges for real fiat money. And again a reminder that they are indeed selling your information. So if you are someone who values privacy, then this app is certainly not for you. But honestly I don’t think there is anywhere on the Internet where you can hide from prying eyes anyway. Everyone is tracking you somehow.
And as their mainnet has been launched, all the GEO tokens are now tradeable in exchanges. The GEO tokens have a supply cap of 350 million. At time of writing, the price of GEO token is USD 0.2730. You can withdraw your GEO tokens but I believe you will need to stake a certain amount before you can do that. The reasoning is probably to stop users from suddenly dumping whole amounts of GEO tokens onto the market, thus tanking the price and causing problems for the community. And they have switched from Ethereum to Binance Smart Chain in verison 3.0. You will need some BNB before you can do any redemption. At the moment, I am not rushing to redeem the tokens. The project should be pretty stable, especially seeing that it was launched in 2019 and have survived for some time. And their community seems to be pretty active as well. I am guessing their biggest flaw is the lack of advertising. I only knew about them when I stumbled across a Youtube video talking about Pi Network alternatives. Even my beloved Youtube which is supposed to be a treasure trove of information, has very few videos on GeoCash or GeoDB.
If you are worried about their application, I am quite certain that it is “legit”. I am not seeing any advertisements or anything suspicious from the app. And as they are selling data to companies, that is where they actually make their money. If you read their white paper, it seems that the buying and selling of the data is supposed to be “open” which is good I supposed. But honestly I don’t know what “open” means in this case. But as long as they are making money from it and giving us a percentage of the returns, I don’t have any problem with that. And if you are interested in purchasing Big data, they have the ODIN – Open Data Interoperable Network.
The application feels very lightweight and responsive. So no issues in that department. Been using it for a few months and yes, it should be fine for most users. Yes there have been some delays but if you have been in the crypto sphere for some time, you know delays are inevitable. Someone should ask our dear Vitalik Buterin about Ethereum 2.0 and the years of delay this has been through. For me, as long as the project goes ahead and is stable, I am more than willing to wait. And what you have to do is to on your phone and let the application collect your data. From my experience, the usage of the collection does not require that much bandwidth or processing power. However one thing I notice is that the application sometimes will not give any rewards. I did face such issues even when I am travelling from place to place but it seems to resolved itself somehow. And the application is often updated so bugs should be resolved relatively quickly by their team.
I will keep on using this application for the near future and will update this post in a few months’ time. If you are looking for a crypto mining application that is fully functioning and their tokens tradable, then this is the application for you. A gentle reminder for readers NOT to pay for anything on such apps! Even if they are legit, it is usually not worth it. If you are interested in my review on the Eagle Network App, please check it out here.