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Pinkoin Wallet, Understanding How It Works

The pinkoin wallet is the blockchain wallet used in storing pinkoins, a cryptocurrency from IbSmartify aka Inksnation.

Every fully registered member of Inksnation has about four(4) different wallets based on their category, either the end-user, merchants, or exchangers. However, these four wallets are linked together and the user has only one (1) unique wallet address.

Inksnation Pinkoin Wallet For End-Users

If you are an Inksnation end-user, you will see the following wallets:

pinkoins wallet: how to convert pinkoins to naira

  • Living Node Reserve
  • Spendable Balance
  • Non-Living Nodes Reserve
  • DRCB Balance

Inksnation Pinkoin Wallet For Exchangers

For the exchangers, there’s a little modification of the wallers in their dashboard. They have the followings:

exchanger's pinkoin wallet

  • Living Node Reserve
  • Pinkard Balance
  • Non-Living Nodes Reserve
  • DRCB Balance

How Does The Pinkoin Wallet

Most end-users only know about the living reserve and their spendable, while the exchangers know a lot about pinkard so, in this post, I will be explaining all the wallets and how they function.

Living Node Reserve

The living reserve wallet is a segment of the wallet that houses the reserve coins every user gets upon signing up as a member of Inksnation. The coins in this wallet increase on the 12th of every month by either 120,000, 180,000 Naira, etc based on the membership plan of the user. Once the Collective Mass Agreement (CMA) of Inksnation gets to 18 million users, a portion of it will open up for users.

Spendable

This us the wallet where your UCDI goes to. The spendable balance wallet houses and displays the daily bonus pinkoins every end-user receives.

The Main Purpose if the Wallet is to, Receive ur UCDI, Transfer to your other wallet, or Transfer to an Exchanger. You can check my other post about how to exchange your pinkoins to Naira if you missed it.

Pinkard Balance

For the Inksnaiton exchangers, the spendable balance wallet was changed to Pinkard Balance. Exchangers activate new accounts from the funds in their Pinkard Balance.

Also Read: How To Become A Powerful Pinkoin Exchanger

DRCB

THIS WALLET IS MEANT ONLY FOR PURCHASE PURPOSE

DRCB means Distributed Reserve Cashless Banking. This wallet is the most interesting part of the Inksnation wallet and everything this project stands for. The DRCB wallet is where every member of Inksnation is expected to make payments from. Any amount of pinkoin sent to the DRCB from the Spendable multiplies by three.

When you receive your Daily UCDI in your SPENDABLE WALLET, let us say 4000, you can transfer the 4000 to an Exchanger for you to get 2800 but If you don’t want to Exchange and you want to use it for Purchase then you can transfer the 4000 from your SPENDABLE WALLET to your DRCB WALLET.

Upon getting to your DRCB WALLET it becomes ×3 i.e once your 4000 enters your DRCB you get 12000. Funny right?

This is what the company has built so as to discourage withdrawal and encourage spending

DO YOU STILL WANT TO EXCHANGE OR ARE YOU GOING TO BE PATIENT AND WAIT FOR MERCHANT?

InksLedger

The InksLedger explorer is specifically unique in enhancing transparency in Living and NonLiving Node’s activities and overall security of the entire ecosystem.

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The Author

tori4town

Tori4Town is the print name for one of the authors of the Tori4Town news platform. An engineering student who derives satisfaction writing about trending news stories.

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