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Kin (KIN): How You Can Benefit From The Drop
Kin (KIN) had an amazing opening month that led it to an easy start in 2018. However, due to the recent events at the beginning of February 2018, Kin started to drop in price along with a bunch of other coins. So, it wasn’t really about this coin in particular as many other coins started to experience major drops around the beginning of the current month.
As February is progressing further, slowly inviting March and possibly new opportunities with it, Kin is still dropping. The most recent drop of -10% makes us wonder: is there a chance to benefit from this drop and what will happen next with KIN tokens?
Everything You Need to Know about Kin
Kin represents a digital currency that operates on blockchains similarly to all other digital tokens. This digital currency has no platform of its own, but it is hosted and used on Ethereum platform, which probably adds some value to Kin tokens as well given the fact that Ethereum represents one of the largest decentralized networks available on the market. However, we should all have in mind that ETH is not doing well either – neither are the majority of coins due to the last week’s radical drops in price.
To get back to the story of interest, the main idea behind Kin is established in the form of neat and cost-effective chat apps and social platforms that are set to enable easy and simple communication in real-time.
Kin takes pride in its goal to make communication on the Internet decentralized as well, stressing out that social media and online communication make a great part of our everyday lives. With this idea, KIN is hoping to establish a good solid reputation and a stable status in the world of crypto values.
Kin also prioritizes online commerce, hoping that more people will realize how simple and effective blockchain trading and communication are. Since traffic on Ethereum is getting a bit tight thanks to a lot of members using different coins along with ETH on Ethereum platform, KIN is hoping to join a faster network, potentially having its developers making KIN’s platform where another coin beside from KIN tokens could be hosted.
How is Kin doing At the Current Moment?
After a series of increases in January when Kin started to grow steadily but certainly, February brought massive decreases – not only for this token but for many other cryptocurrencies among which were also all big coins as well. The first decrease totaled -2.5% against the dollar, immediately following up with another decreased of -10%. This decrease was also marked as the latest decrease stated on February 11th, which means that KIN tokens are now being traded at 0.000255$ per one coin. This is pretty low, but (a huge BUT) this could also be a great thing.
Kin is currently rated as the 89th coin on the global coin ranking list, which only shows you that this coin has a great potential given the fact that is rated among top 100 coins on the market with over 1000 different coins.
Can You Benefit from Kin’s Drop?
Given the fact that not only KIN tokens are dropping low in price in the past following g week, having this token dealing far from a dollar per one unit isn’t that bad. This is because you also have other coins – mostly tokens within the top 20 digital coins – that are also dropping, causing massive selloffs and trading in the red zone. So, why should anyone buy a fraction of a dropping coin like Ethereum under the price of over 800$ per one coin and risk losing some of the money or even most of the money you have invested in ETH, when you can more safely invest in buying 100 to 1000 or more KIN tokens under the price of 0.000255$ per one coin.
Even in the worst case scenario where Kin could go lower than its current price, you wouldn’t be losing much money. And, in the case Kin bounces off and starts experiencing increases it’s a win-win situation. It is always much safer to buy a bunch of coins that are trading at very low prices and hope the price will go up than having to buy a pricey token in the period of decreases and risk losing money.
So, yes, it is pretty realistic that you can earn some cash by investing in KIN although this coin is still far from being worth a dollar per one unit.
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.
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