Income from meme coins. Lending

By Jane Hero | ChangeHero | 30 Dec 2022



1ef97e65fd9dce936fd37428bbbf780c40b8213d1553ab100fe6f8eba12301ac.png

Cryptocurrency is similar to a digital version of money. You can use it to pay for a dinner with pals, purchase a pair of socks you've had your eye on, or reserve travel accommodations such as hotels and flights. Cryptocurrencies can be sent to friends and family members worldwide because they are digital.

All conventional internet payment gateways are actually held by a company. They offer a service for moving and storing money. With cryptocurrencies, you can transmit money directly to other users without the necessity of a middleman by using free software. There is no need for an organization when there are just the two of you and your buddies.

 

How difficult is it to obtain a loan using bitcoin? The cryptocurrency can be used without registering on a website with an email address and password. To transfer or receive money, all you have to do is download an app to your smartphone.

Cryptocurrency

  • Without limitations. Utilizing cryptocurrencies is simple. On the other side, centralized payment services have the ability to freeze accounts or halt transactions.
  • Hack-resistant. The network's design protects it from hacker and other types of attacks.
  • A quick and affordable method of payment. You may send money in a matter of seconds to someone on the opposite side of the globe. Transaction costs are considerably less than those associated with sending money abroad.

 

Investable coins at a low cost

Many investors made their initial forays into the bitcoin market last year. Their attention was mostly on the quickly rising Bitcoin and Etherium. However, those who made investments in inexpensive cryptocurrencies, some of which saw a tenfold gain in value, were able to profit greatly.

The least expensive cryptocurrencies are virtual goods that cost less than a dollar. They can yield enormous rewards in a good market. You must, however, make thoughtful and prudent investments in them. In 2022, the coins for Dogecoin (DOGE) and Shiba Inu (SHIB) both experienced exponential growth. You may research forecasts for Dogecoin in 2030!

This post was created by MOFT professionals to inform you about the finest inexpensive cryptocurrencies to buy in 2022. Our objective was to assess the coins' actual potential in addition to selecting the least expensive ones available. As we said above, inexpensive cryptocurrencies (penny cryptocurrencies) are digital goods that are available to purchase for less $1. Even though they are typically significantly more volatile than the highest-rated coins, this asset class has the potential to offer you good profits.

In addition to being incredibly reasonable, investing in cheap cryptocurrencies is appealing for a variety of reasons. The use of blockchain and digital assets, for instance, is expected to increase over time. Both expensive and inexpensive coins should see a considerable gain in value if this does place.

Lending

Not many people are aware of this, but if you own bitcoin, you can lend it to a third party in exchange for interest. This service is well-liked by bitcoin exchanges since it offers investors and liquidity for transactions. A smart contract blocks the transmitted monies.

Let's examine the two lending options provided by Binance, the biggest exchange:

Low-interest perpetual contract that allows for anytime withdrawals or additions of cash;

Higher interest rate with a fixed contract, but money cannot be withdrawn until a specific date.

Users of Binance have the option to utilize USDT Stablecoins to invest in a perpetual contract utilizing cryptocurrency. Such a deposit will accrue interest at a 7% annual rate. The perpetual CAKE token contract offers a greater interest rate of 12% annually.

On the other side, the cryptocurrency token Axie Infinity (AXS) offers fixed contracts at 25% annually, but the money invested in the contract is locked in for seven days. A fixed contract for Ethereum is offered by the loan marketplace Celsius at a rate of 5.3%.

locations to trade meme tokens

The aforementioned coins are available on a number of well-known cryptocurrency exchanges. Centralized exchanges, on the other hand, take listing very seriously and only include assets after confirming their viability. Since anybody can add a token to a decentralized exchange, all meme currencies are traded on at least one DEX. Dogecoin is an anomaly, as it operates on its own blockchain rather than on Ethereum or BSC and cannot be accessed on DEX.

Centralized memе coin exchanges:

  • Binance
  • OKX
  • Currency.com
  • EXMO
  • MEXC Global
  • Huobi
  • Gate.io
  • Kraken

DEX with memcoins:

  • Uniswap
  • Shibaswap
  • PancakeSwap.

 

In addition, trading telegram bots, payment systems, and exchanges all support some of the more well-known meme cryptocurrencies.

Meme cryptocurrency prospectsd8186ed637a7d50deca9649a2a64f5567781cd42018e86c6d83d8b84a2dd69da.png

It is impossible to anticipate whether meme coins will be there for a very long time; perhaps they will become popular, or perhaps they will be forgotten the moment everyone's focus shifts to something else.

These coins are significantly more volatile than other cryptocurrencies, which is a serious issue with all cryptocurrencies. They are 99% community-driven, and the excitement generated by influencers and social media support greatly influences rate development. Some meme-coins, like Shiba Inu, which established a decentralized crypto-exchange and NFT incubator, aim to dispel misconceptions. This might have helped SHIB become the second most well-liked meme coin, and the shib 2030 price prediction is encouraging!

The top cryptocurrencies (such as Bitcoin, Ethereum, Solana, XRP, etc.) were created to address pressing issues, produce a new decentralized form of money, or profoundly alter a number of fields of endeavor. In terms of meme-cryptocurrencies, they effectively have no use beyond being a means of making quick money. But despite this, the popularity of the coins continues to grow dramatically.

The meme currencies are gradually replacing one another, and we have to accept that from the perspective of investments, it makes sense to take them into account – but not as a long-term investment, but as a short-term tool for rapid and dangerous profits. However, the majority of the portfolio should still be allocated to investments that will offer a long-term view.

 

How do you rate this article?

2



ChangeHero
ChangeHero

Blog about Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and etc.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.