MultiversX Tracker is Live!

How important do you think token utility is when looking to make money?

All Cryptocurrencies

by COINS NEWS 132 Views

99% of people in crypto are here to make money. That is what investing is. To what degree do you think making money in crypto is correlated with token utility?

For instance, some tokens have tons of utility, such as BTC, ETH, ADA, etc. These tokens are required to use some of the largest blockchains available, and have a lot of inherent utility going into the future. Other tokens (such as DEX tokens, lending protocol tokens, etc) have less inherent utility as they are not required to use a protocol. You normally are not required to hold a DEX token to use the DEX.

Some utilities of tokens include governance, potential revenue sharing, or other benefits (lower trading fees, free airdrops) for holding such token. How do you think utility plays into your portfolio when simply looking to make money?

I personally think the best option is to invest into something with high utility for the majority of your investments. Then, you can move into the least risky option of a token with lower utility. An example would be holding majority ETH and ADA, but investing into the largest DEX on Cardano/Ethereum as I do believe it will grow more percentage wise than ADA/ETH themselves.

submitted by /u/ddawsonallen
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments