Today we will explore how you could potentially make a profit from investing in the current crypto market by looking at a new cryptocurrency which is preparing its launch this coming month. The Firepin Token (FRPN) is one to launch, and we will see if it’s going to reach the same status and longevity as the crypto giants Ethereum (ETH) and Litecoin (LTC). As we explore, the aim is to give you some information on these tokens, so that you will be well informed before choosing to invest.
Firepin (FRPN) Is Ready To Takeover!
The crypto world is emerging each day with new coins and tokens. A lot of these are in their presale phase and are predicted to enter the market and possibly generate good returns for investors. The Firepin Token (FRPN) is one of the newly emerging tokens that are still in its presale phase.
The Firepin Token’s ethos is centred around community. In their whitepaper, it states that the Firepin society is a diverse group of individuals striving for a brighter future. Hoping to be maintained by its passionate community, Firepin promotes open communication and strongly believes the three pillars that will guarantee longevity are; trust, openness and community.
Firepin is a decentralised finance (DeFi) and a community-oriented project that aims to bring investors and players together. To accomplish this, they are working towards creating an open environment for everyone to engage and take control.
Its mission is to build a decentralised autonomous organisation (DAO) Metaverse game. They plan to give their users a chance to participate in helping to develop the NFT gaming platform, by acquiring the Firepin Token. These token-holders will benefit from the rewards and will be allowed to participate in the decision making of the Firepin DAO.
Ethereum (ETH) – a Safe Choice
Ethereum (ETC) and Bitcoin (BTC) are two of the household names in the cryptocurrency world, although bitcoin has held its position as number one in the Coin Market Cap, Ethereum has also held its position in the same ranking at number two.
Ethereum is a decentralised open-source blockchain system that features its cryptocurrency, described as “one computer for the entire planet” according to one of its co-founders Gavin Wood. This means that theoretically, it can make any program stronger and more vigorous, censorship-resistant and less prone to fraud by running it on a globally distributed network of public nodes.
In recent months, the crypto market has seen a downtrend and some investors saw the value of some coins and tokens drop significantly. Although, over the last 24 hours at the time of writing, the second-largest cryptocurrency ETH has spiked almost up to 6%. That is good news for all investors considering how things started at the beginning of the year.
Litecoin (LTC) – a Lite version of Bitcoin
Litecoin (LTC) is a cryptocurrency that is designed to provide fast, secure and low-cost payments by taking advantage of the unique properties of blockchain technology.
As of January 2021, Litecoin became one of the most used and accepted cryptocurrencies, with over 2000 merchants and stores trusting LTC across the globe.
After launching, one of Litecoin’s goals was to improve from Bitcoin in various ways. The founder Charlie Lee, a former Google employee, first wanted to create a new hashing algorithm called ‘S-crypt’, this new algorithm supported Litecoin’s faster transaction speeds. In comparison to Bitcoin, which had relatively slower transaction times with 5 transactions per second whereas Litecoin was performing 54 transactions per second.
To conclude, the emergence of new coins and tokens on the market could potentially be beneficial to new investors and users, as a lot of coins like the Firepin Token are venturing into the Metaverse and NFT gaming. The market is expanding with the play-to-earn concept gaining popularity among players. Doing further research on certain coins before investing would be advised.
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