MEGATOKEN is Something New to Watch in the Crypto Markets
Months ago, Elon Musk and Mark Cuban's enthusiastic comments sent Dogecoin shooting for the moon. Now, though Dogecoin has fallen back a bit after its initial run, and traders have turned their attention to the latest new promising tokens like MEGATOKEN.
As MEGATOKEN has begun to land on the radars of traders over the past month, with now two primary sources of MEGATOKEN trading, it could be an exciting time to look into this interesting cryptocurrency. Here's what prospective crypto investors should understand:
What is MEGATOKEN?
How to buy MEGATOKEN.
Should you buy MEGATOKEN?
What is MEGATOKEN?
Out of all the cryptocurrencies and altcoins on the market, what makes MEGATOKEN special?
This alternative asset has implemented a clever strategy for rewarding long-term holders. Built within the MEGATOKEN smart contract, there is a 10% fee to investors who sell it. Half of that fee is redistributed to all MEGATOKEN holders, while the other half is burned and used for liquidity. The company has proven to implement a burn strategy that is designed to be rewarding for long-term holders.
In theory, this will operate like a turbocharged share buyback program. If all goes according to plan, owners of MEGATOKEN will see their ownership stakes increase over time as the exit fee is incrementally redistributed to remaining token-holders. Meanwhile, the burn – which functions like a stock buyback program – will decrease the overall amount of existing MEGATOKEN tokens over time.
How to Buy MEGATOKEN
The leading way to buy MEGATOKEN is through PancakeSwap.finance. PancakeSwap was launched last fall and serves as the leading automated market maker for the Binance Smart Chain. It's essentially a decentralized finance (DeFi) application that allows a wide variety of trading, liquidity providing and yield farming operations. MEGATOKEN's official website posted a tutorial on how to buy MEGATOKEN using PancakeSwap. You can also use MEGATOKEN’s proprietary farming site https://MEGAFARM.app or your account at CoinTiger to purchase MEGATOKEN as well.
Why Buy MEGATOKEN?
So that's how to buy MEGATOKEN and why it is gaining stronger trader interest right now – but is MEGATOKEN a good crypto for the portfolio?
A common feature in the altcoin scene is that the people who discover a new token first make a large portion of the profits. While MEGATOKEN is still early in its early stages, and could end up being a good project, it’s always better to get in early at a time like now before its initial hype cycle.
There has also been a large increase in investors flocking to new DeFi protocols such as MEGATOKEN, so the usage can definitely provide more underlying value as time continues. Most believe that will be the crucial point. If MEGATOKEN is going to succeed, it needs to achieve some functionality beyond simply being a tool for speculators. The loyalty feature is a perk, but that alone may not support MEGATOKEN's future value. Its important for investors to think about a cryptocurrency's real utility. It's clear that the MEGATOKEN team wants to reward loyal users, and develop utility for its use, and in that scenario then one could hold it forever.
So to answer the question, traders will have to keep an eye on current news and the development on MEGATOKEN and see how the upcoming release of several DeFi projects will increase the utility for MEGATOKEN while the functionality of its deflationary protocols continues to reward the holders.