Evergrow Coin: A Good Investment Option?

EverGrow Coin is a new addition to the crypto market, which has been touted as the next Shiba Inu or Dogecoin. Launched in September 2021, it is a hyper-deflationary token that offers an 8% reward for every transaction in Binance-pegged US dollars. Its value has fluctuated, with a 40% drop in the past 24 hours, but it has also seen an almost 224% increase in the last seven days. With a unique offering, it has already amassed over 45,000 holders and distributed over $6 million in rewards. But is it a good investment? Cryptocurrencies are complex and highly volatile, and newer coins are riskier than more established ones. So, while EverGrow Coin may be an attractive prospect, it is important to approach any investment in this coin with caution.

EverGrow Coin's value and market performance

EverGrow Coin (EGC) is a new addition to the crypto market, having launched in September 2021. It is a hyper-deflationary token designed to become more scarce over time, similar to Bitcoin.

Within a month of its launch, EGC reached a record-breaking 45,000 holders and distributed over $6 million in rewards. Its price also shot up by 92.86%, trading at $0.0000009675. This impressive performance has led to analysts dubbing it the "next Shiba Inu or Dogecoin".

By October 2021, EverGrow Coin had reached a market cap of $600 million, with 45,000 holders, and had paid out $8 million in reflections to holders of its native token, $EGC. Its impressive growth continued, and by the end of October, it had surpassed 60,000 holders and a $1 billion market cap. Excluding token price gains, holders of EverGrow Coin had received more than $10 million in rewards.

EverGrow Coin's unique selling point is its reward system, where 8% of every transaction is distributed as a reward to all holders of $EGC in BUSD. BUSD is a stablecoin, which means it is pegged to the US dollar, offering more stability than other cryptocurrencies. This means that holders of EGC receive a passive income in a stablecoin, rather than having to exchange tokens.

Other features of EverGrow Coin include its buy-back function, where 3% of tokens are collected from every transaction and sent to a 'buy-back wallet'. These tokens are then removed from the circulating supply, boosting the price. Additionally, 2% of each transaction is added to the liquidity pool for PancakeSwap, a decentralised exchange, to ensure liquidity and a stable price floor for the token.

EverGrow Coin also has an anti-whale mechanism in place, with an additional 1% charge on all sales, which reduces the number of transactions that involve swing trading and whale manipulation.

The team behind EverGrow Coin is also working on developing an NFT marketplace and a decentralised NFT lending platform, as well as a content subscription platform. These additional utilities are designed to increase the value and usage of the EGC token.

Despite its impressive performance, it is important to remember that investing in any cryptocurrency is risky, and the market is highly volatile. Newer cryptocurrencies like EverGrow Coin are riskier than more established ones like Bitcoin, and investors are more vulnerable to scams.

How to buy EverGrow Coin

EverGrow Coin (EGC) is a new addition to the crypto market that combines cryptocurrency and DeFi. It can be purchased on PancakeSwap using BNB from FTX.

Step 1: Open an online account

EverGrow is only available on PancakeSwap and BitMart. Since BitMart does not offer its services to U.S. citizens, this example will use PancakeSwap. As PancakeSwap is a decentralised exchange (DEX), you don't need to open an account. However, you will need a compatible wallet that will connect to the exchange. You will also need crypto in your wallet to make the purchase. You could use coins like BNB or a stablecoin like BUSD, which can be purchased on Binance.US or FTX.

Step 2: Buy a wallet (optional)

The wallet you connect to PancakeSwap is considered a "hot" storage wallet and is always connected to the internet, making it vulnerable to online attacks. If you want to store your crypto more securely, you can use a "cold" storage wallet, which is only connected to the internet when transferring crypto into or out of it. The Ledger hardware wallet is recommended for storing EGC, with the Ledger Nano S and Nano X as options.

Step 3: Make your purchase

Connect your chosen 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, but you can change this if you wish. Search for EGC in the lower section. If it doesn't show up, you can add it by going to the EverGrow page on CoinMarketCap, copying the contract address, and pasting it into the "Select a Token" search bar in the pop-up window. Click "Import", then confirm. 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 in your wallet.

Other Ways to Buy EverGrow Coin

As EverGrow is not currently supported across the Coinbase ecosystem, you can refer to CoinMarketCap's Markets section to find a list of centralised exchanges where the coin is listed. You can also buy EverGrow through a decentralised exchange (DEX) that supports the blockchain where your EverGrow resides. This involves connecting your crypto wallet to a DEX and using your Binance account to buy the base currency.

EverGrow Coin's unique features

EverGrow Coin is a new addition to the crypto market with a unique set of features that make it a potentially attractive investment opportunity. Here are some of its unique features:

8% Rewards in BUSD

EverGrow Coin offers an 8% reward in Binance USD (BUSD) from every Buy/Sell transaction, which is automatically sent to the holder's wallet. This is a significant advantage as it provides holders with a stable form of cryptocurrency that is less volatile than other options. BUSD is also a trusted token among crypto enthusiasts as it is backed by fiat currencies.

Buy-back and Burn Feature

EverGrow Coin has a robust price stability mechanism through its buy-back and burn feature. A 3% tax is levied on each transaction to support this feature, and these tokens are sent to a specific wallet known as the 'buyback wallet.' This helps to boost the token's price and creates positive price action.

Decentralized NFT Marketplace

The EverGrow team is working on creating a decentralised non-fungible token (NFT) lending platform based on the Binance Smart Chain (BSC). This platform will enable NFT owners to borrow against their NFTs as collateral at reasonable interest rates without having to sell them, thus generating income.

Re-imagined NFT Lending Services

The EverGrow platform aims to develop one of the largest BSC-based NFT marketplaces globally. Users will be able to securely create, sell, and buy NFTs on this marketplace. This feature enhances the utility of the EverGrow Coin and provides a platform for users to engage in NFT trading.

Anti-Whale Mechanism

EverGrow Coin has implemented an anti-whale program to prevent large investors, or "whales," from dominating the market. An additional 1% charge is added to all sales, reducing the number of transactions involving swing trading and whale manipulation. Additionally, the smart contract does not allow simultaneous sales exceeding 0.2% of the total supply, ensuring a more equitable distribution.

Play-to-earn Games

The EverGrow Ecosystem plans to integrate play-to-earn games, capitalising on the growing crypto gaming industry. This feature will further boost the adoption and trading volume of EverGrow Coin.

The risks of investing in EverGrow Coin

Investing in cryptocurrencies like EverGrow Coin (EGC) is risky due to their high volatility and limited regulation. Here are some detailed risks associated with investing in EverGrow Coin:

Volatility and Price Fluctuations

Cryptocurrencies are known for their high volatility, and EverGrow Coin is no exception. The value of EverGrow Coin can fluctuate significantly in a short period, as evidenced by its nearly 40% drop in value within 24 hours, as reported by CoinMarketCap. Such volatility can lead to substantial losses if investors are not cautious.

Regulatory Risks

The crypto market, including EverGrow Coin, has limited regulatory oversight. This lack of regulation means investors have less protection if things go wrong. The absence of regulatory safeguards in the crypto space can make investors more vulnerable to scams, fraud, and market manipulation.

Newer Cryptocurrency Risks

As a newer cryptocurrency, EverGrow Coin is riskier than more established coins like Bitcoin. Newer cryptocurrencies have a higher likelihood of failing or not gaining widespread adoption. They are also more susceptible to price manipulation and may have less robust security measures in place.

Investment Risk

Investing in EverGrow Coin, or any cryptocurrency, is inherently risky. There is no guarantee of making money, and investors could potentially lose all their invested capital. It is crucial for individuals to carefully consider their risk tolerance and financial situation before investing in volatile and unpredictable assets like cryptocurrencies.

Scam and Security Risks

The lack of regulation in the crypto space also increases the risk of scams and security breaches. Without the same level of regulatory oversight as traditional financial institutions, investors in EverGrow Coin may be more exposed to fraudulent activities and security threats.

In conclusion, while EverGrow Coin may offer attractive features and rewards, it is essential to approach it with caution due to the inherent risks associated with investing in cryptocurrencies. Investors should always conduct thorough research, understand the risks involved, and only invest what they can afford to lose.

How EverGrow Coin compares to other cryptocurrencies

EverGrow Coin (EGC) is a new addition to the crypto market that functions on a 'frictionless yield farming and liquidity protocol'. Its unique selling point is its crypto-DeFi combo, which has attracted many investors.

EGC is a hyper-deflationary token designed to become more scarce over time, similar to Bitcoin. It is based on the concept of Tokenomics and smart contracts. EGC traders are rewarded with 8% returns in BUSD on every transaction made. This is an attractive feature as investors earn passive income in dollars, rather than in another cryptocurrency.

EverGrow Coin is also the first yield-generating token to offer rewards in BUSD. BUSD is a stablecoin, which means it is pegged to the US dollar, addressing volatility concerns while still providing the same digital advantage in transactions.

The EverGrow platform also charges a 2% fee on every transaction to sustain the PancakeSwap liquidity pool, which helps to prevent drastic price drops of the currency due to market factors.

EverGrow Coin's team is made up of finance professionals, software and marketing experts, and developers. The team is fully transparent, and their identities have been independently verified.

Compared to more established coins, EverGrow Coin is still a relatively small player in the market. Its market cap was $1 billion, compared to $32 billion for Shiba Inu and Dogecoin, showing the growth potential for crypto in the future.

In summary, EverGrow Coin has a unique offering in the crypto space, with its combination of crypto and DeFi, and its rewards system. Its team is experienced and transparent, and its tokenomics are designed to reduce volatility. However, as with any cryptocurrency investment, there are risks involved, and it is important to do your own research before investing.

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