There are several projects been launched by developers in the crypto world today among which is the Wiki cat. This crypto coin is one of the trending altcoins in the crypto market as of today.
You must have heard about Dogecoin which is a Japanese Shiba Inu dog-themed cryptocurrency. What then is this cat faced cryptocurrency labeled ”Wiki Cat”?
In this post, we’ll learn a bit about Wiki Cat as a crypto asset. Before then, let’s learn about things you need to know before investing in an altcoins.
What You Need to Know Before Investing in a Crypto Project
Making your own research about a crypto coin is very important if you’d dealing in any of them. Cryptocurrency research will not only
save you lots of money, but also help to make informed investment decisions. Listed below are things you need to know before investing in a crypto project.
1. Purpose of the project- This helps to evaluate the problem the crypto asset intends to solve as well as its future value.
2. Market Capitalization– Although cryptocurrencies are highly volatile, the market capitalization of a particular asset tells about its stability. Therefore, a crypto asset with a larger market cap is more stable than one a small cap crypto.
3. Credibility of its Founders- There are crypto project founders that have been in soup in recent time some of which are FTX’s Sam Batman-Fred, Terra’s Do Kwon, and so on. It is therefore important to make your research a project founder and team before having a thing to do with them.
4. Roadmap– A roadmap is a plan with an estimated completion date that shows what a cryptocurrency wants to achieve in the long term. A roadmap gives you an understanding of the problem the project tend to solve with time frame.
5. Crypto Exchange- Doing the research, identify exchanges that accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for a service, as a matching platform, or simply charges fees. It better to invest in Cryptocurrency that can be transferred or trade with different exchanges.
6. Identify features of the crypto asset– It is important to identify the features (both positive and negative) of the cryptocurrency. Make sure the positive
outweighs the negative features. Cryptocurrency that is capable to perform more functions is considered to be more valuable. As such, the demand for such
cryptocurrency will raise. Which will definitely cause the price to increase.
7. Future value of the project– Future value (FV) is the value of a current asset at a future date based
off an assumed rate of growth. The future value is important to investors and financial planners, as they use it to estimate how much an investment made today will be worth in the future. Knowing the future value enables investors to make sound investment decisions based on their anticipated needs. However, external economic factors, such as inflation, can adversely affect the future value of the asset by eroding its value.
Having known these things before investing in altcoins, what then can investors know about Wiki Cat?
What You Need to Know About Wiki Cat
Wiki Cat is a crypto coin which comes as a tutorial token with unique deflationary mechanism. It was created by created by Sir Mapy for SMC DAO.
The ownership of the token renounced to a strong and vibrant community. The goal of the Wiki Cat project is to establish a NFT focused club (Wiki Cat Club), where users can hold, buy and sell unique NFTs in p2p way.
While Dogecoin (DOGE) and Shiba Inu (SHIB) has a dog face on its coin, Wiki Cat goes with the face of a member of the cat family.
Wiki Cat (WKC) in the Crypto Market
Wiki cat trades in the crypto market by he symbol WKC. The live price of WKC is $1.75e-8 USD with a 24-hour trading volume of $284,950 USD.
WKC is currently ranked 3107th among thousands of Crypto asset by CoinMarketCap as of writing. It has a maximum supply of 1,000,000,000,000,000 WKC coins.
Wiki Cat is currently one of the fastest rising small cap altcoins in the crypto market. The community is bullish as of writing as more than 73% of users are feeling good about it.
Where to Buy WKC
There are several exchanges that supports Wiki Cat coin. These include Binance, Coin Gecko, Coin Tiger, Pancake Swap, LATOKEN, Hotbit, and so on.
Should You Invest in Wiki Cat Coin?
Wiki Cat coin is a crypto asset with a lot of potential. However, that is not a pass mark for you to invest in it.
Wiki cat is a good option if you want to diversify your crypto portfolio. If you must invest in crypto asset such as WKC, you should put what you can afford to lose because return on investment is not always guaranteed with crypto. The high price volatility of cryptocurrency is something you must into consideration when investing.
Wiki Cat (WKC) is one of the fastest rising crypto asset today. As the term wiki means a website or database developed collaboratively by a community of users, WKC is also a renounced to a strong and vibrant community.
If you must invest in this crypto coin, you need to do your own research as discussed above before doing so.