Place/Date: - August 18th, 2022 at 12:47 pm UTC · 3 min read
Crypto investment is exploding in India, specifically amongst India’s youth, who prefer digital assets to stocks or bonds, and the nation is leading in global crypto adoption. Binance, the world’s leading exchange ranked by volume, acquired popular Indian exchange Wazir X in 2019, but relationships have soured, and Binance’s CEO Changpend Zhao has advised Indian investors to transfer their assets to Binance.
Many prudent young investors are moving their assets to the more secure exchange. But more interestingly, it seems that three tokens are currently being considered by these investors: Uniglo (GLO), Fantom (FTM), and Filecoin (FIL).
Uniglo is an Ethereum-based social currency that is value backed and employs scarcity principles. Uniglo has pioneered a new mechanism titled Ultra Burn to see a drastic reduction in the token’s total supply and guarantee a constantly appreciating token price for investors. Facilitated by buy and sell taxes, 2% of every trade on GLO will be sent to the Uni Abyss, a burn wallet with an unknown private key. On top of this, Uniglo will also be making periodic purchases of GLO from the open market in a classic Buy Back and Burn strategy.
The other mechanic funded by these taxes is the Uniglo Vault which will hold various assets purchased by the treasury. These assets give GLO a stable and secure floor price, and as their value increases over time, the value of GLO will also increase. Uniglo is an excellent token choice for investors with a long-term horizon and allows them to preserve and grow their wealth in a single investment vehicle.
Fantom is a leading blockchain platform for DeFi (decentralized finance) and DApps (decentralized applications). Home to one of the most organically formed and constantly evolving ecosystems due to the Fantom Foundations Incentive Programme, which directly rewarded developers for building on the network. Fantom is a DeFi paradise and one of, if not the best, places to earn with digital assets.
Home to SpookySwap, Beethoven, Tomb Finance, and Scream, the Fantom network has almost limitless opportunities for yield farming. This ultra-scalable blockchain is bringing financial services to millions globally, and its current price represents a brilliant entry point. As DeFi grows, FTM gets stronger.
Filecoin is a decentralised storage solution for humanity’s most important information. This open-source cloud storage protocol stores data across various locations globally, meaning there is no single point of failure and data is truly secure. It allows anyone to rent out spare storage space on their devices and has formed a massive global network.
FIL is the native token provided to those who contribute storage space. Currently traded on all major exchanges and addressing a perpetually growing market demand, the future prospects for Filecoin are excellent.
Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.