Crossing Borders: How POE Coin Converts to INR
Investing in POE coin from any part of the world means you need to be on top of exchange rates. At any point, you could be in a position to massively profit from a sale of cryptocurrency through the right currency exchange rate.
If you’re looking to unload a stash of POE coin and turn it into rupees, this article has the POE coin information that you’ll want to keep in mind before converting.
Any sale involves a bunch of factors, including service fees and the viability of your current cryptocurrency. Let’s find out how much potential there is with POE coin.
What Is POE Coin, and How Does It Convert to INR?
As of August 2018, the approximate conversion rate for POE coin to INR is 1 Po.et to 0.686158 Indian Rupees. This is nearly a 15% increase in one week’s time, and the conversion of POE to INR continues to be something to monitor closely for crypto enthusiasts.
POE coin is based in Ehtereum, a universal kind of currency designed to track ownership and proper attribution for content creators in the digital marketplace. This is one of the main selling points of not just POE coin and Ethereum, but all kinds of cryptocurrency.
As artists in all forms of creative media embrace the digital world, the ability to track ownership can become a struggle. Seeking the correct tags for licensing and attribution for a physical document can be incredibly time-consuming. You might even need to get legal experts involved, especially if ownership is being transferred through a sale or auction.
The goal of Po.et is to create a platform with blockchain that timestamps all digital content created within the system. This way, there is no searching for attribution, and artists can be traced through the use of POE coin to properly give credit.
What Kind of Marketplace is POE Coin Used for?
Along with providing a platform to use POE coin, you’ll find Po.et a place where artists can directly sell their creations to become known names in the cryptocurrency world. Anyone who creates digital content can take their work, list it on the Po.et marketplace, and potentially become a success story. The use of POE coin is designed to lure members to use the tokens to compensate artists for their creations.
Adding Content to Po.et
To create things for the POE coin marketplace, coins have to be staked before getting started. If the marketplace members think that the created content will be acceptable for Po.et, they can upvote it for acceptance. If that’s not the case, you’ll lose the number of coins you’ve wagered along with the potential to sell your work on Po.et.
Converting POE coin to INR will start with creating your marketplace and making it as narrow or wide as you choose. This all depends on what kind of artist you are. Do you make music? You might specify one specific genre and try to appeal to those in the Po.et marketplace who enjoy, for example, Swedish heavy metal.
If you’re a little more diverse in your offerings, you could try selling original acoustic pieces or piano compositions. The possibilities are endless, but in the intersection of crypto and art, it never hurts to keep your diversity options open.
The POE Coin
POE coin is a type of ERC20 currency that is used within the Po.et marketplace. There are three reasons that Po.et uses this type of currency, including the importance of raising funds for the long-term development of the platform. Along with building the Po.et Foundation, they want to bootstrap network effects by ensuring stakeholders and publishers are fully invested in POE coin.
Another goal of using the Po.et marketplace is to reward early adopters and investors who submit the best pieces of content to the platform. The network has grown exponentially, and in August 2017, there were over 3 billion POE coins taken during the ICO. Half of it was sold to the community, and nearly another quarter of this was put into the Po.et foundation.
Who Is Responsible for POE Coin and the Po.et Foundation?
POE coin and the marketplace behind Po.et was initially created within BTC Media, which is a marketing and publishing firm that works with blockchain spaces. Tyler Evans, who co-founded BTC Media, wasn’t enjoying the trends within content licensure. He believed that it was much too labor-intensive and developed the concept of the Po.et marketplace to cut out all of the legal speak.
Right now, there are a total of 10 core members on the Po.et development staff. The CEO is Jarrod Dicker, a former leader at The Washington Post who worked in the publication’s strategy and innovation department.
Development of the Po.et platform is grouped into three separate phases.
Back in June 2017, the Rosetta Era started. This was right around the time of Po.et’s ICO when the initial token sale brought in over $10 million for initial funding. Along with the seed round, this money helped to launch their first public testing of the Po.et content creation platform. Anyone using WordPress was able to timestamp all of their documentation regarding the marketplace.
This is Po.et’s current standing point and where POE coin is positioned within the crypto marketplace. They plan to unveil marketplace licensing options sometime in 2018. With this strategy, then plan to bring in over 20 publishers and let creators host their own content. With this in place, creators get access to payment channels with no hidden fees or attribution issues.
In the Guttenberg Era, the only possibility for creative content involves written word, but this will change in the future. All marketplace listings will allow for creative license attachment, a primary goal of the Po.et platform.
The final portion of the Po.et platform is known as the Alexandria Era. Once the company reaches this stage, video and image production will be included in the creative offerings.
How Does POE Coin Trade for INR and Other Currencies?
Compared to other crypto formats, POE coin is still a baby. It celebrated one year on the market in August 2018 and hit a high of 0.000017 BTC in January. Earlier this year, the crypto market saw a major pullback, and POE coin took a severe hit in value because of this.
Despite this loss, the Po.et platform insists on staying the course. We’re more interested right now to see if the price can recover, as it doesn’t seem to be the best option if you want to convert INR into a crypto format.
You can still purchase POE coin on a number of other exchange platforms. Some of the available marketplaces include EtherDelta, Bittrex, and Binance. If you’re looking to store POE coin for later use, you’ll need a wallet that supports ERC20 tokens. One of the better options for this is a hardware wallet similar to the Ledger Nano S.
If you’re not interested in paying extra money for a wallet, there are still free options available. The Exodus wallet gets out choice for those who wish to hang on to their extra cash without paying for storage.
Should You Consider Trading in POE Coin?
If you had looked for an answer to this question one year ago, the reply would have been much more enthusiastic. The concept of a creative marketplace based around a proprietary cryptocurrency is a heck of a way to incentivize potential investors.
Not only you are inspiring the creative process, but the Po.et marketplace has figured out a way to give artists direct credit for their work. Using INR to invest in POE coin is an amazing way to get around this problem.
One of the most common issues facing digital content creators today is the legal grey areas surrounding their projects. Without the proper knowledge from a lawyer, content creators are in a rough spot when it comes to ownership of their material.
Thanks to the work of the Po.et Foundation, new artists have an entire world where they can skip worrying about stolen property. Items bought and sold with POE coin are not subject to potential digital theft, thanks to the security involved in each transaction.
It’s unfortunate, then, that POE coin didn’t make itself known sooner. The market’s massive pullback in January thinned the herd of fledgling cryptocurrencies. While POE coin is technically still in existence, better not hold your breath for it to rise from the ashes of an already crowded graveyard.
Aspiring artists should tread carefully in this promising Po.et marketplace. Their process for listing your creations sounds like a grueling audition, one which you must pay for in their own currency. Linking digital art to a connecting form of currency is a novel concept, but this late in the game, the viability being very inspirational to the creative process isn’t seen.
Overall, converting POE coin to INR is going to get you exactly what you paid for. There are better crypto options out there, but supporting the arts is never a bad thing.