SPOT a Store of Value

By Crypto Wisdom | Crypto wisdom | 8 May 2023



In order to get the best use out of any cryptocurrency token you need to understand first the purpose of its creation along with its intended utility. 

When it comes to SPOT it is my understanding that it was intended to be a store of value meaning a stable token in which you can hold money in the crypto space.

Unlike many other cryptocurrencies the price doesn’t fluctuate much making a relatively safe place to store money without the risk of the value decreasing much.

However it is not like other stable coins that are pinned to the dollar, instead it is stabilized by other assets that it is backed by like Ampleforth for example. 

SPOT being a store of value is both good news and bad news. 

It’s good news, to know the token in which most of my Publish0x earnings are coming in is a relatively safe and stable token without the fear of the price strongly fluctuating. 

The bad news is, since it’s main purpose is just to store value it is pretty difficult to extract your money from this asset, they aren’t looking so much for you to be able to withdraw and trade they’d prefer you just stored your value in SPOT.

This might be why you’re having a hard time trying to find a platform that trades SPOT. I do believe at some point SPOT will make it on the main trading platforms so at least it’s good to know that your asset is relatively not exposed to the market volatility and hopefully you’ll be able to trade all its value if you so desire. 

 

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