Delegate SP & PAL, Mine INV token, Create Steem account with INV token and/or Trade INV token in Steem-engine

Introduction

There are various ways available to create steem account. Steemit offers free account creation in Steem blockchain with a certain waiting period. Other services like Blocktrades, Steem.ninja offer paid account creation. Blocktrades accept crypto to create a new steem account. Steem.ninja creates a new steem account with a certain amount of delegation to meet the minimum requirement of resource credit to get started, the payment option it accepts is by a credit card and it charges 2 usd for it. On average, the creation of steem account creation is roughly 3 to 4 steem per account.

As the steem community is growing, the incoming users must also be facilitated with an ease to enter this community. The existing users in this community can play a bigger role in bringing their social circle to the steem ecosystem.

So the existing users should have an easy option to create a steem account for their relatives, friends, etc and this should be such that the creation of an account should be available in a generalized way & should also be easily accessible to the entire community.

@oracle-d and @steem.ninja have worked on this background to bring a new & innovative solution to the creation of steem account. They have recently introduced INV token, which is known as INVITE token and it is basically a steem-engine token and this can be mined, traded and redeemed to create a steem account.

Mining of INV token

There are two ways to mine INV tokens-

• By delegating steem power to @steem.ninja
• By delegating pal power to @steem.ninja

The amount of INV tokens that can be mined per week is 300 INV tokens and every week 300 INV tokens are dispersed among the SP & PAL delegators in proportion to their delegation amount.

Redemption of INV token to create Steem Account

In order to redeem INV token to create a Steem account, the user is required to visit their official website which is https://invite.steem.ninja/ where there is an option available to create an instant Steem account with INVITE. Simply be checking in with INVITE balance and by sending the INV tokens, one can easily create a Steem account instantly. One INV token can be redeemed for one Steem account.

Trading of INV tokens in Steem-engine.com

INV tokens can also be traded in the free market of Steem-engine and any user can login to Steem-engine using the steem account keys and can select the “Market” and trade INV tokens.

Pros of INV tokens

• It can lower the barrier of entry.
• It can be available easily for the entire community.
• A user is free to mine this token simply by delegating SP or PAL Power.
• It is easily tradable in Steem-engine.
• A steem user can make use of his idle SP to mine INV tokens.

Cons of INV tokens

Need more marketing to let people know about it. Steem-engine is still a new thing for most of the people in this community. So some form of marketing is necessary.

Summary

I am very optimistic about INV tokens and I think this is one of the major developments in the context of steem account creation. In past there was a lot of debate around the creation of steem account. Some people say it should be free of cost but the fact is that the resource credit is consumed for creation of a steem account and someone has to bear that cost. Now by introducing INV tokens this problem and debate is over. Now a user can easily mine INV token and can introduce new people to this community. Those who don’t even look for creation of steem account, can still trade it for monetary profit.

More Information & Resources

• https://steemit.com/steemninja/@steem.ninja/enabling-invite-mining-through-pal-delegation
• https://steemit.com/invite/@oracle-d/community-feedback-inv-tokens-trading-live-on-steem-engine

References

• Steem.ninja
• Steem-engine.com

Disclaimer

This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.