The introduction of cryptocurrency led to a paradigm shift in the world of finance. Digital platform for financing was in a supporting role, till it overtook the market of finance completely. Cryptocurrency is the future of finance and the same has been predicted by most economists. With the blossoming global economy, the competition for the better cryptocurrency has become fierce and it emphasizes your need to evaluate your investment. Let us look at a couple of cryptocurrencies that have caught the eye of young investors.
Tron and Chiliz are one of the newer additions to the list of cryptocurrencies. Both these cryptocurrencies have caught the attention of investors all around the world because of incredible growth. The value of these has increased and both are now recommended by experts to invest in. If you are thinking of buying either, you may wish to know about them. Here is an overview to help you out.
Things you should know about Tron before you invest
Tron is a cryptocurrency that has been under the limelight. Here are a few things you need to know about Tron.
- Introduced in the year 2017, Tron had performed better than the expectations of the experts by showing exponential growth till January 2018. The highest Tron to INR conversion in 2021 has been 14.51 rupees and the lowest has been 1.81 rupees.
- Tron is again a decentralized blockchain-based cryptocurrency that was curated for digital content and it cannot be mined.
- Content creators who use Tron have full rights over their content and they can manage distribution too. This cuts out fees of intermediaries who need to be paid to display the content. It also eliminates the need for dependency on social media platforms for displaying content. By deleting the middlemen, Tron aims to reduce the total cost of the process and create an enduring system for content distribution.
- Although it is yet to gain the confidence of investors from all over the world, Tron enjoys strong support from a well-known billionaire. The imminent issue of fair content distribution is being tackled gracefully by Tron.
- Buying Tron in India is easy and you can head to any exchange or trading platform and you can purchase Tron. Tronix is Tron’s currency and the basic unit in this blockchain.
What do you need to know about Chiliz before you consider investing?
A blockchain-based cryptocurrency, Chiliz or Chz powers a platform that promotes fan engagement and rewards. Here are a few things you need to know about Chiliz.
- Socios.com is a digital platform that uses Chiliz exclusively to buy fan tokens using which fans can vote and be a part of decisions taken by their favourite sports team. There are rewards for participation as well. They can also be used to purchase licensed products. The majority of the teams included on this platform are soccer teams. There are plans of adding baseball, football, and basketball as well. The last addition was that of NASCAR racing and Formula 1 racing.
- Chz to INR has been a rollercoaster ride with the lowest being 0.67 rupees and the highest hitting 80.48 rupees until Oct 2021.
- The concept of Chiliz allows one to influence the decisions of their favourite teams. This concept was developed in 2016 and was launched by 2019. Although mining Chiliz is not possible, a large amount has already been introduced in the market.
- This opportunity is a way for the teams to monetize their fan following and include their ardent spectators in their decision-making process. This is the next step in esports after Fantasy football.
- Chiliz cannot be considered a long-term investment due to its volatile nature. Investments can be done based on market trends. The addition of teams loved globally can boost the value of Chiliz tremendously. There are some teams that have a fan-following all around the world and if history is any indication, then the addition of these will spike the value of Chiliz. If this happens, then Chiliz can be a massive hit.
Both Tron and Chiliz can be purchased on various trading and exchange platforms. These digital platforms are crucial for buying and selling cryptocurrency; however, these precious digital assets should be stored safely in online wallets.
The purpose of each cryptocurrency is different. If you wish to buy these as an investment and expect a hefty return then it is imperative that you study the market trends, history, and future predictions. Although cryptocurrency is popularly known as the young investor’s business, it is fairly easy to comprehend. The profits made are much higher as the risks are greater too. It is wise to assess the risk and the amount you are investing in before making any large investments.
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