Investing in early-birds is seen as a great way to become a millionaire, but investing into cryptocurrency is an aspect that involves a significant risk – still, there is a high possibility of becoming rich to buy that dream Lambo and house with it. Investing in digital assets such as Tron (TRX) is an excellent step to become a millionaire, and there is a high possibility of growing rich with Tron.
The question is, how much Tron you need to become a millionaire? Well, there is no straight answer to that question since there are lots of factors that make up for the answer.
First of all, you need to know the potential of Tron (TRX) surging higher than it would in the next 5 to 10 years. What will be the future price of Tron? Will its price be of a great value than it is now? What will be the law regulations? These are some of the questions you will also need to ponder upon.
To know how much Tron (TRX) you need to get rich, first of all, you need to know how much Tron is worth to you. It also entails having faith in the long-term value prospects of Tron to grow, develop, and remain competitive in the crypto market in the next few years to come.
You need to ask yourself if you are comfortable investing a good amount in a crypto like Tron, which has the possibility of growing higher in the near future as a result of its volatility – although this might depend on your perspective. If you are an individual that would love to hold a significant amount of Tron (TRX), then, that might depend on your circumstance. However, you may decide to place 5 to 10% of your net worth on Tron – it all depends.
After figuring out that you would love to invest a significant amount and you are comfortable investing it; having faith that the cryptocurrency will soon reach the $5 price mark, then, you need to get about 200,000 Tron (TRX) to attain the $1 million mark.
When investing in a volatile cryptocurrency like Tron (TRX), you can invest a small portion of your salary on a weekly basis. The reason for this is probably to play safe so as to prepare for the worst. When investing, you can either hold or swing trade. In swing trading, you can take out profits and invest a small portion of it using technical analysis.
Not just Tron (TRX), the whole crypto market is very volatile and unpredictable. So, it is necessary that you do your own research before investing in the crypto market. It is also vital that as an investor, you shouldn’t let other news outweigh your very own judgments – don’t forget doing your technical analysis, too.
If you would love to hold, it is necessary that you do so when you are comfortable holding for a long-term period; sometimes, you may have to hold longer than expected. Finally, it is also essential to keep at heart that there are lots of risks when investing in any cryptocurrency, not just Tron. Play safe, be patient, you more likely will be on the winning side at the end.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…