Evergrow Coin: A Smart Investment Decision?

EverGrow Coin (EGC) is a new cryptocurrency that launched in September 2021. It is a deflationary token designed to become more scarce over time, similar to Bitcoin. All holders of EGC will earn an 8% reward from every transaction in Binance-pegged US dollars. The crypto sector has seen people make huge profits, with some becoming millionaires from investing small amounts in Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu. Could EverGrow Coin be the next cryptocurrency to explode?

EverGrow Coin's value and performance

EverGrow Coin (EGC) is a new cryptocurrency that launched in September 2021. It is a hyper-deflationary token designed to become more scarce over time, similar to Bitcoin. This scarcity is what makes people believe that it will increase in value.

Within a month of its launch, EGC had a market cap of over $1.5 billion, gaining a record-breaking 28,000%. EGC holders have received rewards exceeding $12 million USD, with the coin setting a new benchmark in the crypto market.

EGC is the native yield-generating cryptocurrency of the EverGrow protocol, which is a BNB Chain-based passive income protocol. The main draw of EGC is its passive income-earning ability – 8% of all transaction fees on the EverGrow protocol are rewarded to holders. This is paid out in a stablecoin pegged to the US dollar, which helps investors avoid sales taxes and fees when converting rewards to fiat money.

The EverGrow project has several future developments planned, including a DeFi lending product, an NFT marketplace, a content subscription service, and a play-to-earn game.

In terms of performance, EGC reached an all-time high of $0.000003379 in November 2021. However, its price has since declined, and as of December 2022, it had lost about 91% year-to-date. As of August 2024, the live EverGrow price is $6.80e-8 USD, with a 24-hour trading volume of $83,311.64 USD.

While some investors believe that EverGrow Coin could be a good investment, others caution that it is a very risky asset. It is important to remember that investing in any cryptocurrency is not a guaranteed way to make money, and you could lose all of your investment.

How to buy EverGrow Coin

EverGrow Coin is a yield-generating crypto designed to be deflationary. It launched in September 2021 and is currently not supported on Coinbase. However, you can still buy it on PancakeSwap or PooCoin. Here is a step-by-step guide on how to buy EverGrow Coin:

Step 1: Open an online account

Firstly, you will need to open an online account. You can buy EverGrow Coin on PancakeSwap or BitMart, but as BitMart does not offer its services to U.S. citizens, this guide will use PancakeSwap as an example. As PancakeSwap is a decentralised exchange (DEX), you do not need to open an account, but you will need a compatible wallet that will connect to the exchange.

Step 2: Buy a wallet (optional)

The wallet you connect to PancakeSwap is considered a "hot" storage wallet as it is always connected to the internet and therefore could be vulnerable to online attacks. If you want to store your crypto in the most secure way possible, you should use a "cold" storage wallet. A cold storage wallet is only connected to the internet when transferring crypto into or out of it, making it less likely to be hacked. Ledger (Nano S or Nano X) is recommended as the best hardware wallet for storing your EGC.

Step 3: Fund your wallet

Now that you have your wallet, you will need to fund it. You could use coins like BNB or a stablecoin like BUSD. You can purchase these on Binance.US or FTX.

Step 4: Make your purchase

Now that you have your wallet set up and funded, you can make your purchase. Connect your wallet to PancakeSwap. Hover your cursor over "Trade" and click on "Exchange" in the dropdown menu. BNB should be the default coin in the upper coin selection area. If you want to use a different coin, simply change it here.

When you search for EGC in the lower section, it may not show up. If this is the case, you can add it by going to the EverGrow page on CoinMarketCap and copying the contract address for EGC. Paste this into the "Select a Token" search bar in the pop-up window and click "Import". You will then need to view a warning and click "I understand" before clicking "Import" again.

EGC should now appear in the lower coin selection. Enter how much of the upper coin you want to swap into EGC and change the slippage tolerance to 17%. To complete the transaction, click "Swap", then "Confirm Swap", and confirm again when your wallet pops up. You should see EGC appear in your wallet within a minute.

Step 5: Watch the market

Now that you have purchased EverGrow Coin, you can watch the market and decide when to sell or convert your coins. As PancakeSwap is a DEX, the action of selling or converting will be the same as the purchasing process.

Important things to note

• Every time you buy, sell or transfer EGC, a 14% tax is imposed.
• It is important to do your research before investing in any cryptocurrency.
• Cryptocurrency prices are subject to high market risk and price volatility.
• EverGrow Coin is not a good short-term investment. It is recommended to hold the EGC for a long time to make up for losses caused by the transaction tax.

EverGrow Coin's future plans

EverGrow Coin (EGC) is a new cryptocurrency that launched in September 2021. It is a hyper-deflationary token, designed to become more scarce over time through regular burning. Its unique selling point is its combination of cryptocurrency and DeFi, which has attracted many investors.

The future plans of EverGrow Coin include:

• Being listed on 6 different exchanges, including BitMart, with the ability to buy with a credit card in the US.
• The development of a P2E game called Gods Unchained.
• The introduction of a DeFi lending product, an NFT marketplace, a content subscription service, and a play-to-earn game.

The EverGrow project is still in its early stages, but it has already achieved significant milestones. Within two weeks of its debut, it reached 200,000 holders and a $200 million market cap. As of 2024, it has more than 25,000 holders and has distributed over $5 million to its community.

The price of EverGrow Coin is currently volatile, and it is difficult to predict its future value with certainty. However, analysts have made the following predictions for the end of each year:

• 2025: $0.00000025 to $0.00000040
• 2030: $0.000002 to $0.00000264
• 2040: $0.000074 to $0.000092
• 2050: $0.000102 to $0.000122

Is EverGrow Coin a legitimate cryptocurrency?

EverGrow Coin (EGC) is a legitimate cryptocurrency that was launched in September 2021. It is a deflationary token designed to become more scarce over time, similar to Bitcoin. It is based on the concept of tokenomics and smart contracts. The project has some similarities to SafeMoon, as all EverGrow buy and sell transactions carry a fee, a portion of which is distributed to the community.

One of the key features that sets EverGrow apart from other cryptocurrencies is its passive income-earning ability. Holders of EGC can earn an 8% reward from every transaction in Binance-pegged stablecoins (BUSD), which is sent directly to their wallets. This is funded by a 2% strategic buyback fee, where tokens are converted to BNB and stored in a contract wallet known as the BuyBack Wallet. The BNB is then used to buy back EGC from the open market and send them to a burn address, reducing the supply and supporting the token's price. Additionally, 2% of every transaction is transferred to a liquidity pool for PancakeSwap, and another 2% goes into a marketing and development wallet.

The team behind EverGrow Coin includes experts in finance, software development, and marketing. The identities of the team members are known and verifiable, which adds to the legitimacy of the project. The project has also distributed more than $5 million to its community since its debut.

While EverGrow Coin appears to be a legitimate project, it is important to remember that investing in any cryptocurrency carries risks. Cryptocurrencies are complex and highly volatile, and newer cryptocurrencies like EverGrow Coin are generally riskier than more established ones like Bitcoin. There is also scant regulation for crypto firms, so investors may not be protected if things go wrong. As with any investment, it is crucial to do your own research and only invest what you can afford to lose.

How does EverGrow Coin compare to Shiba Inu?

EverGrow Coin (EGC) and Shiba Inu (SHIB) are both cryptocurrencies that have gained popularity in the crypto world. Both coins have seen significant growth since their launch, with Shiba Inu experiencing a rapid rise in value in 2021 and EverGrow Coin reaching a milestone of 200,000 holders within two weeks of its debut in September 2021.

When comparing EverGrow Coin and Shiba Inu, there are several key differences and similarities to consider:

Similarities:

• Rewards for Holders: Both projects offer rewards to their token holders. Shiba Inu holders have been burning coins to boost the token's price, while EverGrow Coin has a built-in rewards function, distributing a portion of transaction fees as rewards to holders.
• Community Focus: Both projects have a strong focus on their communities. Shiba Inu's community, known as the ShibArmy, actively works to promote the token and keep it in people's attention. EverGrow Coin, on the other hand, has a more structured approach, distributing a portion of transaction fees to the community and involving the community in its development.

Differences:

• Tokenomics: Shiba Inu is a meme coin with a large supply and no built-in tokenomics, relying on its community to burn tokens. In contrast, EverGrow Coin is a deflationary token with a maximum supply of one quadrillion tokens and a buyback and burn feature.
• Transaction Fees and Rewards: EverGrow Coin's transaction fees are higher, with a 14% tax on all transactions, compared to Shiba Inu's lack of transaction fees. EverGrow Coin distributes 8% of the tax as BUSD rewards to holders and allocates 2% for strategic coin burns, while Shiba Inu relies on its community to burn tokens.
• Centralization: Shiba Inu is decentralized, with an anonymous founder and no centralized roadmap. EverGrow Coin, on the other hand, has a known team of experts in finance, blockchain, and marketing, and a centralized roadmap with future developments.
• Use Cases: EverGrow Coin has a wider range of use cases, including a Play-to-Earn game, an NFT lending platform, an NFT marketplace, a content subscription platform, and a betting pool. Shiba Inu, being a meme coin, has little to no utility in comparison.

In conclusion, while both projects have their strengths and weaknesses, EverGrow Coin appears to offer more in terms of utility and use cases. Its deflationary nature, built-in tokenomics, and focus on community rewards set it apart from Shiba Inu. However, it is important to remember that the cryptocurrency market is highly volatile, and past performance does not guarantee future results.

Frequently asked questions