Follow Coin: Your Guide To Investing In Social Tokens

Follow Coin is a cryptocurrency that aims to bridge the gap between long-time crypto investors and beginners. The platform allows users to follow and duplicate the trades of investors who have been in the game since the early days of Bitcoin. The investors benefit by receiving a certain amount of Follow Coins, while the followers benefit from successful trades without having to conduct their own research. The company behind Follow Coin is based in Amsterdam and is a subsidiary of Knijbel, a Dutch software development company. The Follow Coin token (FLLW) is based on the Ethereum platform of the blockchain and can be purchased on exchanges such as EtherDelta. However, it's important to note that the Follow Coin price has been dropping, and there are concerns about the transparency and experience of the team behind the project.

How to buy Follow Coin

Follow Coin is a cryptocurrency platform that aims to bridge the gap between long-time crypto investors and beginners. It allows users to follow experienced investors and copy their investments.

To buy Follow Coin, you must first buy another cryptocurrency, such as Ethereum (ETH), on a designated exchange. You can do this on exchanges such as Coinbase, KuCoin, Kraken, or Binance. Once you have purchased another cryptocurrency, you can then use it to buy Follow Coin on a dedicated crypto exchange.

• Sign up for an account on a designated exchange such as Coinbase, KuCoin, Kraken, or Binance.
• Buy a cryptocurrency such as Ethereum (ETH) on the exchange.
• Find a dedicated crypto exchange that offers Follow Coin, such as Binance.
• Sign up for an account on the dedicated crypto exchange.
• Deposit the cryptocurrency you purchased in step 2 into your account on the dedicated exchange.
• Use the deposited funds to buy Follow Coin on the dedicated exchange.

It is important to note that purchasing Follow Coin may be a tedious task, and it is always recommended to consult a financial advisor before investing in any cryptocurrency.

Follow Coin's history

Follow Coin is a cryptocurrency that allows users to follow and mimic the trades of successful early bitcoin investors. It is an ERC223 utility token on the Ethereum blockchain.

The company behind the project, also called Follow Coin, is based in Amsterdam and is a subsidiary of Knijbel, a Dutch software development company.

Follow Coin was kick-started in Q2 2017 with pre-ICO rounds and app development. The company recruited Sieuwert van Otterloo (formerly of McKinsey) as Data Protection Officer and Nipsey Hussle as an official partner and investor. The app was released on the Google Play Store and the iOS App Store in Q3 2017, and by Q4 2017, the app had 20,000 users. The company also integrated its app with Civic Biometric technology, becoming the first app ready with CVC-software.

In Q1 2018, Follow Coin attended the North American Blockchain Conference and was invited as the main speaker at the Cryptocurrency Meet-up in Friesland, Netherlands. They were also invited to speak at the Dutch Senate to inform the Dutch government about cryptocurrencies.

In Q2 2018, Follow Coin introduced the ability for users to submit applications to become influencers on the platform. They also introduced the FIT (Follow Influencer Trade) functionality, allowing users to follow and duplicate the trades of influencers.

Since then, the company has expressed interest in rebranding and overhauling their White Paper. They plan to release Follow Coin 2.0, taking into account the lessons learned from their initial ICO and app launch.

The 'following' feature

The Following Feature

The following feature is at the heart of the Follow Coin platform. It is designed to bridge the gap between long-time crypto investors and beginners. Beginners can often find the cryptocurrency market confusing and overwhelming, with too much information to process.

The following feature addresses this issue by allowing users to find and connect with trading experts from around the world, many of whom have been investing in cryptocurrencies since the early days of Bitcoin. Users can view these investors' past activities and successful trade rates via their portfolio tabs.

Once a user decides to follow a particular investor, they will receive notifications whenever that investor makes a move in the crypto market, such as trading, buying, or selling. The user then has the option to duplicate the trade, automatically mimicking the investor's actions. If the trade is successful, both parties benefit: the user for making a profitable trade without having to conduct their own research, and the investor by receiving a certain amount of Follow coins as a reward.

This feature is advantageous for several reasons. Firstly, it provides a great gateway into the cryptocurrency trading industry for those who have wanted to try it but have been deterred by the complexity and time commitment of research. Secondly, it benefits investors by allowing them to earn additional revenue from their successful trades without any extra effort. They simply need to create their profiles and continue trading as usual.

The following feature is a unique concept that simplifies the process of getting into the crypto trading industry. However, it is important to note that there are risks involved, and it is always recommended to consult a financial advisor before making any investments.

The pros and cons of Follow Coin

Pros

• Follow Coin is a platform that connects beginner traders with experienced crypto investors, allowing beginners to learn from experts and make more informed investment decisions.
• The platform eliminates the need for time-consuming research and provides a simple way to identify the best investors to follow.
• It offers a unique concept for a cryptocurrency, bridging the gap between long-time crypto investors and absolute beginners.
• The "Duplicate Trade" feature allows users to automatically duplicate the trades made by the investors they follow, providing a passive investment strategy.
• The platform has a user-friendly app that sends notifications whenever the followed investors make moves in the crypto market, making it convenient for users to stay updated.

Cons

• The company behind Follow Coin, also called Follow Coin, is relatively inexperienced in the cryptocurrency field, which could impact their ability to deliver on their promises.
• There is a perceived lack of transparency from the company, with limited technical information and explanations provided to the public regarding their development plans and financial goals.
• The Follow Coin token (FLLW) has been steadily dropping in price since its initial coin offering (ICO), which could be due to the team's inexperience and lack of a clear plan for marketing and user attraction.
• The company's lack of direction and inability to maintain its market position have contributed to the decline in the token's price and could impact its long-term viability.

How to pick the best crypto exchange

Picking the best crypto exchange can be a challenging task, especially for newcomers to the world of cryptocurrencies. Here are some key considerations to help you make an informed decision:

Location and Regulation:

Start by ensuring that the exchange is available and legally operating in your country. Cryptocurrency regulations vary across the world, and some exchanges may not be accessible in certain jurisdictions. For US citizens, for instance, it's advisable to choose an exchange based in the United States.

Security:

The security of your funds is paramount. Look for exchanges that employ robust security measures such as two-factor authentication (2FA), cold storage of funds, and encryption protocols. Check the exchange's track record for security incidents, and ensure they have procedures in place to protect your assets.

Coin Pairs and Liquidity:

Consider the range of cryptocurrencies offered by the exchange. If you're looking for more exotic coins beyond the most popular options like Bitcoin and Ethereum, you'll need to find an exchange that supports those specific coins. Additionally, assess the liquidity of the exchange, as higher liquidity means faster transactions and better price accuracy.

Fees:

Trading fees can vary significantly between exchanges, so it's essential to understand their fee structure. Check both the trading fees and withdrawal fees, as these can impact your overall profits. Some exchanges may also offer incentives or lower fees for using their native tokens.

User Interface and Customer Support:

A user-friendly interface can greatly enhance your trading experience, making it easier to navigate and execute trades. Responsive customer support is also crucial, as issues with your account or transactions can be time-sensitive and require prompt resolution.

Reputation and Reviews:

Research the reputation of the exchange by seeking reviews and feedback from existing users. Online forums, social media, and dedicated review platforms can provide valuable insights into the reliability and trustworthiness of an exchange.

Remember, there is no one-size-fits-all solution when it comes to crypto exchanges. The best exchange for you will depend on your specific needs, preferences, and trading goals. Always conduct thorough research, compare multiple exchanges, and consider the factors outlined above before making your decision.

Frequently asked questions