Kik Messenger’s Kinit App is now Officially Live on the iOS App Store
The Kin network is going through some significant changes and reaching some landmarks. It was made official today that Kinit is now officially live. Kinit is the first publicly available digital app created and launched specifically for the Kin network, and is available on the iOS App Store.
The release of Kinit is a further milestone not just for Kin, but for the cryptocurrency market as a whole, seeing as though Kinit utilizes KIK Messenger's KIN, the network's unique cryptocurrency, making it the most used crypto in the world, giving Apple users their first experiences earning and spending the cryptocurrency.
The app is currently available in the U.S., with more locations coming soon. Download the Kinit Beta now! https://t.co/HdLXp3qdjJ
— Kin Ecosystem (@kin_foundation) August 22, 2018
One of the interesting aspects of Kinit is the fact that it is also one of the first apps to be added to the Apple Store that uses cryptocurrency, and has been made exempt to Apple's previous stance on cryptocurrencies.
This goes back to a number of adjustments that Apple had made to its rules and regulations regarding cryptocurrencies under the subsection 3.1.5(b) regarding them directly:
3.1.5 (b) Cryptocurrencies:
(i) Wallets: Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.
(ii) Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).
(iii) Exchanges: Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself.
(iv) Initial Coin Offerings: Apps facilitating Initial Coin Offerings (“ICOs”), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions and must comply with all applicable law.
(v) Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc.
Kik and Kin CEO/Founder, Ted Livingston sought to ensure that Kin/Kik were abiding with the existing regulatory guidelines that Apple had provided. This is a landmark achievement in itself, according to Livingston, who referred to the ongoing dialogue with Apple as “conversations that really nobody else in the world is having.”
Last month, Kinit was officially released for Android users via Google Play and since then, the company has reported that more than fifteen thousand Android users have downloaded the Kinit Beta App. In conjunction with this, Kin's ongoing integration of their cryptocurrency into the Kik messenger app now see more people using Kin than there are users of all recorded Ethereum dApps worldwide.
Kin's Success – What Does it Mean?
For iPhone users, the launch of Kinit on the App Store marks the very first Kin experience for a number of users, giving them the opportunity to earn and spend cryptocurrency natively in an iOS app. One of the other unique landmarks that the introduction of Kinit to the iOS App Store also signified is the ability for Kin to gain some real insight from iOS users that use Kinit, how they approach one of the first experiences many of them have had with cryptocurrencies.
This factor will also accelerate Kin's ability to learn how best to adapt the cryptocurrency system to appeal to the broader demographic of smartphone users. Having this factor raised means that Kin's partners within its ecosystem may find themselves even more successful on account of taking these first-hand experiences to heart.
iOS – The Kinit Experience
One of the things that sets Kinit apart from other apps is that it provides a simple, lightweight experience with an intuitive interface and a number of basic, easy to understand features. Upon downloading the app, the user will be prompted . to set up their own Kin wallet in a few quick steps.
Then user will then go on to complete a simple survet as their first ‘earn experience'. Some of the other ways that users can earn Kin is through a number of quizzes and polls – some of which are sponsored by major companies like Swarovski or Red Bull through the associated partner, Swelly, which operates as a polling chat bot.
Users can then have complete access to the Kin Marketplace, where they have a number of ways and opportunities to spend Kin whenever they earn it. These purchases can be things like gift card from brands and retailers like AMC Theaters, Google Play, and Amazon. You’ll also be able to transfer Kin from one user to another within Kinit.
Here is the KIN Foundation's video of using the Kinit Beta on Android: