Coinbase recently introduced a free way to earn $12 of a new altcoin called Orchid (OXT). This was a really cool opportunity to take advantage of, and it simply involved watching three short videos (about 3 mins each) and answering one easy quiz question after each one. I earned $12 for about 10 mins of work. That was cool. However,those videos were designed to educate users about what Orchid does and the project it is associated with. I was...less than impressed and immediately converted my OXT for other cryptos.
Why was I so unimpressed? The Orchid project is just a VPN, and its features are redundant when combined with existing free programs. For example, you could use Orchid tokens to pay for data on the decentralized VPN network they have set up. A decentralized VPN network makes sense, but nobody in this day and age wants to pay for their internet by data instead of just paying a flat price for unlimited use like you get with normal VPNs. It makes more sense to just use a normal VPN service after researching the company providing it.
"But wait!" Says Orchid, "What about people who want to pay in crypto so their purchase can't be tracked?". To that I answer that most major VPNs already allow users to pay in crypto.
"But still!" Says Orchid's defenders, "What about the special flexibility Orchid has? Users can set up multiple proxies to send their data through if they want, basically setting up a network of VPN servers". To which I reply: Tor. Just use Tor. It's free and also routes your data through multiple servers. Also you can only do that with Orchid if you want to pay for all of that. Tor is free and easy to download/use. You can even combine Tor with traditional VPN use (I recommend using a VPN then starting Tor).
"Well...", says Orchid's defender, "You can still use OXT as an investment". I simply reply by pointing at this chart showing that the coin, less than a month old, has lost two thirds of its value in that time.
https://www.coinbase.com/price/orchid
To be clear, I think Orchid was made with a good goal in mind. I don't think it is a scam, but I do think it is redundant and not a good choice for consumers. sorry, but I just have to be realistic and honest with my readers.
Still, I do recommend that my readers go ahead and get $12 of this coin for free from Coinbase. There is no reason not to as it is easy and quick to earn these coins, and Coinbase allows users to convert this currency to another if they so desire. To get this money for free, go here: https://coinbase.com/earn/oxt/invite/8mvkcr32
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This coin shot up more than double when first listed on coinbase then just dropped like a stone, classic pump and dump, then just sat at the same price while other coins dropped and now sits at the same price while others are going up, I just wonder where it's going next.