Numerous cryptocurrencies and tokens appear every day. Some of them are of a practical nature, which means they perform some sort of function. Others, on the contrary, have a purely entertainment purpose and may be in demand only due to the strong buzz around the project. RevenueBot has highlighted a few coins to watch out for.
Counterparty (XCP)
XCP is a native token of the Counterparty platform that leverages special Bitcoin addresses and is transferable via Bitcoin transactions. The devs endeavored to blend financial markets with robust funding tools so that work could be done with almost no human intervention. Counterparty saw the light of day in early 2014.
XCP is used to provide functionality whenever BTC is not technically feasible. For instance, XCP is used to pay for the execution of the entire smart contract code. XCP basically makes up a stake in the Counterparty protocol, as well as being the cryptocurrency for voting for community-driven updates.
Based on the authentic Bitcoin blockchain, the Counterparty protocol enables developers to create their own digital tokens, and launch any blockchain project you can ever think of. Similar to Ethereum smart contracts, it provides much of the same features, but the records are made on the Bitcoin network.
Counterparty is a free and open platform that puts powerful financial tools in the hands of everyone with an Internet connection. By harnessing the power of the Bitcoin network, Counterparty creates a robust and secure marketplace directly on the Bitcoin blockchain, extending Bitcoin’s functionality from a P2P payment network into a full-fledged peer-to-peer financial platform.
Kira Network (KEX)
KEX is an Ethereum-based ERC-20 token to provide early access to the markets. However, KEX ERC-20 is not a native KIRA network token and instead will be replaced by a native KEX token when the mainnet is released. The 300 million KEX tokens issued on the Ethereum network will be equal to their number with the original token supply on the KIRA Network
Kira is the first decentralized network that facilitates access to any digital asset in the cross-chain ecosystem. Backed by 100% liquidity of your capital, trade and utilize DeFi with the help of this token while also earning block and reward fees by betting any digital asset.
Kira runs a Multi-Bonded Proof of Stake (MBPoS) consensus that generates trust income for all types of digital assets such as common crypto, stablecoins, and even NFTs.
UniLend (UFT)
UFT is an ERC-20 utility token used for liquidity fees, platform fees, and governance voting.
Moreover, Unilend is a permission-less decentralized protocol that combines spot trading services and money markets with lending and borrowing services through smart contracts.
UniLend stands out from other DeFi protocols in that it combines the decentralization aspect of allowing any ERC-20 to be used as collateral for lending and borrowing, while providing flexibility for users who can also trade their assets on the platform. Ultimately, UniLend aims to unlock the full potential of digital assets for their holders.
Conclusion
When investing in new coins, you keep an open mind on all the risks, because the chances of a coin remaining at the same price brackets or depreciating are sky-high.
This material is not a piece of financial advice and is for informational purposes only.
If you don’t want to count on luck, RevenueBot offers an automated trading interface. You can trade on the leading crypto exchanges, including: Binance, Bittrex, FTX, OKX and others. RevenueBot allows traders to create trading bots that provide stable passive income. Among the main advantages of the platform we can highlight the following:
- Fees for the service are charged only after the first profit, no prepayment required;
- RevenueBot’s native marketplace is a great way to buy a ready-made bot as well as to sell a lucrative configuration;
- The RevenueBot referral program enables you to earn without having to do any trading by yourself;
- RevenueBot uses a Dollar Cost Averaging (DCA) strategy, through which you can successfully trade and make profits over the long run;
- Automatic switching of trading pairs makes it possible to benefit from trading at any time. The bot itself will switch to another trading pair if the main one will not be able to do the earning.
You can learn more about the features of the platform on the RevenueBot official website.