*HUGE Increase in the popularity of cryptocurrency, has dramatically added to the number of new crypto wallets in existence.
Each wallet offers unique features and some wallets can even be linked to major credit cards to make buying crypto as easy as possible. Some wallets such as the mobile Trust wallet, allow you to see what specific game assets or cryptocurrencies you may be holding. Enjin coin is another great new mobile wallet that actually caters to almost every crypto token or coin. As new use cases and new tokens are created, and the crypto market becoming much more entertaining.
Blockchain technology presents more advantages than simply being decentralized, meaning you control your accounts. Cryptocurrency operates 24 hours, 7 days a week and unlike traditional banking systems, transactions can go through in minutes or seconds at a much greater savings to us! Many companies and websites are joining the masses in learning about cryptocurrency and blockchain and most have even decided to create their own crypto tokens!
Personally I am amazed by the emergence of hundreds of new cryptocurrency tokens! There is a slight difference in the basic types of tokens. A “token” is a simple utility used as access to websites and/or used as payment for crypto-game assets. No token can legally guarantee profit to the people purchasing the tokens without crossing an invisible line called SEC regulation.
Crypto Coins on the other hand, are actually tokens, that are on their own, blockchain. You must have several nodes set up to create a blockchain network and it must be managed constantly. Coins are regulated by the SEC and must be created and managed properly in order to be within legal bounds. Most tokens have pre-sales but only a “security token” would offer a possible profit from purchasing the coin, and this could be subject to investigation by the SEC, at some point.
Crypto coins as well as tokens, can get listed on crypto exchanges and their value can go up, or down depending on the tokens, use cases or supply and demand, however, most good crypto coins have built in analytics to help create a more balanced and stable coin for its investors.
It is much easier to create a simple utility token that can be used with websites online than it is to create a coin. Many Crypto-games have their own utility tokens they use for fuel, upgrades or as payment, in their games. The tokens are a great way to promote websites or games, and allows an interesting way to keep track of all your transactions. Tokens that have a connection to a company, an actual usable website or playable game, are usually the safest tokens to buy.
What are your thoughts on cryptocurrency and what tokens or coins do you have in your wallet?
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