You may be wondering, what qualities lead to a cryptocurrency being a promising ecoin and an attractive investment opportunity. The answer to this question is not necessarily an easy one, nor the same for all people. Now I am not a broker, so you shouldn’t take this as investment advice rather as my opinion on the matter. Whether you are looking at alt-coins to make an investment, to use as a form of payment, or any other reason, there are several elements that should be considered.
Demand For The Coin
The value of an alt-coin is directly related to the demand for the coin. The greater the demand, the higher the value. Demand can be based on various coin traits but for a coin to be successful, it must be able to create demand for itself. The rest of the elements on this list are all beneficial to the coins life, but without demand, the price of the coin will never go up. Knowing the level of demand for the ecoin and where this demand comes from can tell you a lot about what to expect from the coin.
Usability
The more usable an ecoin is, the more non-investors could be interested in the coin as a simple cash alternative. This is not to say that investors won’t be interested, but those people that are not active cryptocurrency miners and investors make up a much larger pool to help drive up demand.
Transfers
If the coin can be easily and quickly moved between users, this coin will be preferred over other ecoins which may be slow or have a more difficult process involved to make transfers. A related consideration is how easily the ecoin can be converted to other forms of currency. Currently there are only two cryptocurrencies that can be converted directly to cash, Bitcoin and Ethereum, and through this ability they gain added value.
Ease Of Acquisition
There are three main ways to acquire ecoins: through mining; by purchasing or trading for them; and through faucets and other reward systems. Mining, the original method of acquiring ecoins, may start out fairly easy to acquire coins, but quickly becomes more difficult so you must consider where in the coins life cycle you are. Purchasing or trading for your alt-coins can be relatively easy, as long as the ecoin is on a currency exchange and and there are people looking to sell the ecoin. Faucets (reward systems) tend to be available for most cryptocurrencies out there today. Most faucets payout tiny fractions of ecoins as a reward for some completed task and should be evaluated as to whether the payout is worth the effort required to do the tasks.
Community
The community behind a cryptocurrency can greatly impact its acceptance and growth. If the ecoin is being pushed to market by a small group of developers, hoping miners will jump on board, the coin will tend to have a long slow growth curve. On the other hand if the alt-coin is being spread by the developers and a large team of dedicated followers made up of investors and users this coin should have a much more rapid rise to stardom and have more staying power.
Life Cycle
We have all seen alt-coins start out for pennies or even fractions of penny and grow to be valued at $1, $10, $100, or even $1000 and we now wish we had gotten involved with them earlier. As a general trend, ecoins start out low and increase in value over time and then become relatively stable in a higher range. However, some coins never take off and others look promising, moving up in value, only to crash and burn. Knowing where in their life cycle the coins exists can greatly improve the money making opportunities in the world of cryptocurrencies.
How Does PRO Currency And IPN Fit Into This
Like I said above, demand is a must for a successful ecoin, and PRO Currency has a built in demand since it is associated with iPROnetwork and all the people in that network. The method of acquiring PRO Currency and ability to turn around and use the coins will drive a high demand.
PRO Currency is highly usable with the ability to make purchases at over 4500 retailers through the PRO Currency Reward App. The usability offered within this app alone will make PRO Currency an instantly desirable method to complete transactions.
The block chain technology used by PRO is more advanced than that used by other coins like Bitcoin and because of that, transactions processed with PRO much quicker than other coin transfers. The developers of the PRO Currency block chain have actually been called upon to fix the block chains of other cryptocurrencies.
Currently out of the over 700 cryptocurrencies available, only two, Bitcoin and Ethereum, can be converted directly to cash. Before the end of 2017, PRO Currency will become the third ecoin that can be converted directly to cash. This will create an additional demand for the coin, especially since conversions using PRO will process faster than the other two due to the improved block chain technology.
PRO Currency has developed the simplest method yet for mining the coins. Just by using the app to make purchases at over 4500 merchants you can be rewarded with your own PRO Currency. This is as easy as the faucets available to acquire other cryptocurrencies, but instead of a faucet, this method should be considered a fire hydrant!
The community behind a cryptocurrency can greatly impact its acceptance and growth. PRO Currency is being introduced to the world by the developers as well as a large team of dedicated followers made up of investors and users, with an additional money making drive to see this coin become accepted by the masses. With this much driving force behind PRO Currency it will quickly increase in value and be able to maintain more stability in the process.
PRO Currency is very early in its life cycle, it just came out of ICO and the rewards platform for coin usage and acquisition is just now being released. It is now entering the growth phase and in the case of PRO, this should prove to be massive growth. In other words, get in now and take advantage of this growth. Even down the road, this coin will continue to expand quickly as more and more people learn abgout it and how simple it is to acquire and use.
I know I'm months behind but I like that you use the term ecoin. Seems like no one else says it. Always altcoin. Maybe because there is a coin called ecoin in Mr. Robot and IRL.