Miami is a world famous destination for those who love warm weather, incredible beaches, women and cryptocurrency. Yes, Miami is now a city for cryptocurrency enthusiasts. Under the leadership of Mayor Francis Suarez, the city has taken strides to present itself as an attractive home to crypto investors. Now, the 305 has become the first American city to release its own cryptocurrency, Miami Coin. Miami Coin (MIA) has the potential to bring in millions of dollars to the City of Miami. Let’s take a closer look:
What is Miami Coin?
We devoted a few pages in our eBook to MIA. Here is an excerpt from 9 Unusual Ways You Can Make Money With Crypto (But Can’t With Cash):
“The Miami Coin is a vehicle for people to invest in the future of the city of Miami and profit in the process. 30% of the revenue goes directly to the City of Miami and the rest will earn investors rewards in Stacks (STX).
STX is the foundation of City Coins like MIA as it allows applications to be built on BitCoin. Investors who purchase Miami Coin on OKCoin can “stack” the coin and earn rewards of STX.
So far, the MIA has enjoyed a very successful run, generating $4.3 million in contributions for the City of Miami to spend as it wishes.
One of the coin’s creators, Patrick Stanley had this to say about the role of MIA, “People love Miami and want to support Miami,” Stanley said. “Traditionally people used to support a city by paying taxes out of obligation. This is a way to effectively pay tribute and donate to a city out of opportunity, and building up a protocol that can power a new generation of applications that couldn’t exist before and now do.”
How much is MIA?
Most investors have done quite well so far. As of September 16th at 3 PM, the price of Miami Coin has roughly doubled over 7 days from $0.021 to $0.041, benefiting both the city and the majority of crypto investors.
Even better for crypto investors, OKCoin is now offering the opportunity to stake Miami Coin and earn rewards in STX.
With Tallahassee putting a priority on how the entire state of Florida can become more crypto-friendly, it may not be long before other cities from the Sunshine State get into the act. Miami is the first U.S. city to obtain revenue from cryptocurrency. More will follow its lead.
Where do I get Miami Coin?
Miami Coin (MIA) is now available for purchase on one exchange, OKCoin. You can start investing in the MIA coin today and receive a FREE $50 in Bitcoin for signing up with OKCoin. Click on that last sentence for more details.
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-The Crypto Trend Analyst Team