Reliance Jio Coin price surges: Know what it is, buying & other key details

Reliance Jio Coin, a digital reward token launched by Reliance Industries, has seen a 30% surge in market value over the past week, driven by rising demand and expanded utility partnerships. Currently valued at Rs 15 per coin, the token is gaining traction among users for in-app rewards and discounts.

A cryptocurrency tracking website, WalletInvestor, noted that JioCoin grew from its Rs 0 launch price to a high of Rs 22. However, other popular tracking sites stated that the coin was not in circulation or that no information was available about it.

Jio Coin: A Reward Token, Not Cryptocurrency

Unlike cryptocurrencies such as Bitcoin, Jio Coin operates as a closed-loop loyalty token usable only within Reliance’s ecosystem (JioMart, JioSaavn, AJIO). It cannot be traded on external crypto exchanges. In all likelihood, Jio Coin rewards customer engagement and is not a speculative asset but a tool for enhancing user benefits.

Why the Surge?

The spike follows Reliance’s partnership with Zomato and Flipkart, allowing Jio Coin redemption on these platforms. Additionally, limited-time offers, like doubling coin value for Prime members, also fueled demand.

Buying Jio Coins

Direct purchase is unavailable. Users must earn tokens through Jio apps or trade surplus coins via Jio’s internal marketplace, subject to a 5% transaction fee. The steps to buy a coin, as of now, is:

1. Obtain and set up the JioSphere Browser.
2. Register with Jio Number.
3. Open Jio Coin Wallet.
4. Sign In and Begin Earning.

Disclaimer: Regulatory bodies stress that Jio Coin is unrelated to cryptocurrencies and falls under RBI’s gift card rules. Users cannot convert coins to cash.