Powr Crypto: A Worthy Investment?

Power Ledger (POWR) is a technology company that builds software for distributed and decentralised energy markets. It has developed a blockchain-based platform that enables the tracking and trading of energy, flexibility services, and environmental commodities. Its native cryptocurrency is the POWR token, which is an ERC-20 token issued on the Ethereum blockchain. The POWR token can be used to pay for transactions on the Powerledger blockchain and provides access to various applications and functionalities offered by the Powerledger platform.

Power Ledger has had a volatile price history, with recent pumps and dumps leaving traders wondering about its future. In this context, this article will explore whether Power Ledger is a good investment option.

Power Ledger's price history

Power Ledger (POWR) is a cryptocurrency token that powers the Powerledger platform, which aims to enable peer-to-peer energy trading. The Powerledger platform was co-founded by Dr. Jemma Green and John Bulich in 2016 and is headquartered in Zug, Switzerland. The platform operates on two blockchain layers: the public Ethereum blockchain and a private consortium blockchain known as EcoChain™. The POWR token is an ERC-20 token that acts as a licence required for businesses to access the Powerledger platform.

The POWR token had a bullish start to life, entering the market in 2017 at around $0.055 and reaching an all-time high of $2 in January 2018. However, the token entered a bear market after this high and started to lose value, with its all-time low of $0.031 recorded in March 2020.

The POWR token has seen an increase in price in 2024, with a trading volume of $20,476,370.03 in the last 24 hours. The current price is $0.223043, with a market cap of $116,809,293. The token has a circulating supply of 523,707,335 POWR coins, with a maximum supply of 1,000,000,000 POWR.

The Powerledger platform has a wide range of potential use cases, including managing grid stability, facilitating peer-to-peer energy trading, and developing sustainable residential and commercial developments. The platform also enables the trading of environmental commodities such as renewable energy certificates and carbon credits, making these processes more transparent and efficient.

The Powerledger team combines expertise in blockchain technology, energy markets, and sustainable solutions. The project addresses challenges posed by distributed energy resources (DERs) and aims to reduce dependence on centralised grids, enhance grid stability, and promote sustainable energy practices.

Power Ledger's future prospects

Power Ledger (POWR) is a technology company that builds software for distributed and decentralised energy markets for a sustainable future. It was co-founded by Dr. Jemma Green and John Bulich in 2016. The company aims to provide a platform for a fully modernised, market-driven grid that offers consumers a choice in their energy while driving the democratisation of power.

One of Power Ledger's key strengths is its ability to leverage blockchain technology to create a decentralised, secure, and transparent platform for energy trading. The Power Ledger blockchain is built on a modified version of the Solana software, providing scalability and energy efficiency. This implementation allows for real-time recording and verification of energy transactions through smart meter data and smart contracts, addressing the challenges posed by distributed energy resources (DERs).

Another factor contributing to Power Ledger's future prospects is its focus on peer-to-peer (P2P) energy trading. By embracing local energy markets (LEMs), Power Ledger facilitates P2P energy trading, reducing dependence on centralised grids and enhancing grid stability. This approach is particularly relevant given the growing prevalence of DERs and the congestion and reliability issues they cause in traditional grids.

Additionally, Power Ledger enables the increasing market of residential energy suppliers by providing them with control over their surplus energy. The company's platform allows users to buy and sell surplus electric capacity generated by solar roof panels in real-time, utilising the POWR token as a medium of exchange.

However, it is important to note that Power Ledger faces competition from other similar crypto projects, and the regulatory landscape surrounding cryptocurrencies can be uncertain. The success of Power Ledger's investment prospects will depend on various factors, including the company's ability to innovate, the strength of its community, and the broader adoption of cryptocurrencies.

Pros and cons of investing in Power Ledger

Pros

• Power Ledger enables the increasing market of residential energy suppliers by providing them with control over the use of their surplus energy.
• Power Ledger acts as a mediator between the user and the electric provider (or the state), automatically handling the legal and administrative aspects of the transaction, allowing consumers to buy and sell energy with relative ease.
• Power Ledger facilitates the sale and trading of energy, and consumers can receive payments for their excess renewable energy production in real-time through the decentralised, trustless, automated, and totally secure Power Ledger platform.
• Power Ledger has a dedicated team led by Dr. Jemma Green, executive chairman and co-founder, and John Bulich, technical director and co-founder. The team combines expertise in blockchain technology, energy markets, and sustainable solutions.
• Power Ledger has a broad exchange support, with strong Bitcoin order books on Binance, and well-established markets on BitHumb and Upbit.
• Power Ledger has received several notable awards, including the Renewable Energy Markets Award for innovation and new market approaches to sustainable energy, and the EY Startup of the Year Award in 2019.

Cons

• Since energy is a closely regulated sector, Power Ledger may not be legal or acceptable in most regions.
• Power Ledger is not a good investment according to CaptainAltcoin's prediction model, which sees Power Ledger's price crashing and dropping to near 0 in the distant future.
• Power Ledger faces fierce competition from other similar crypto projects, does not stand out with its technology and innovation, does not have a genuine community, and the team behind the project is unproven.

How to buy Power Ledger

Power Ledger is an Australian crypto project with huge ramifications for the real world. Power Ledger enables people to buy and sell energy. It is a peer-to-peer energy trading platform, wherein producers of renewable energy are connected with consumers on the blockchain.

Step 1: Register on Binance

With its relatively low market capitalization, few platforms offer the ability to buy Power Ledger POWR directly with Fiat currency such as USD or EUR. So the best option is to buy Bitcoin or Ethereum first, and trade for POWR on a large exchange like Binance.

Step 2: Verify your account

Binance will require you to submit several KYC (know your customer) verification documents before you can start trading. You should also set up security measures, such as a strong password and 2-Factor Authentication to keep your account safe.

Step 3: Send BTC or ETH to your Binance account

Once you have been approved, you will have to send Bitcoin or Ethereum coins to the Binance Exchange. If you don’t hold either of these coins, they can be bought from the Coinbase Exchange, or other sites.

To deposit, go to the header menu and click “Funds” then “Deposit”. Select the coin you wish to send from the menu. This will give you an address to send your Bitcoin or Ethereum to. Make sure that any coins you send to this wallet address are only that currency – for example, if you send BTC to an ETH address, you may lose your coins.

Step 4: Wait for confirmation

Depending on how much activity is on the network, there may be a short wait for your deposit to be confirmed. Make sure to check the deposit has gone through, and the BTC/ETH shows up in your Binance wallet, before navigating away from the page.

Step 5: Locate the BTC or ETH pair

Once you have Bitcoin or Ethereum in your Binance account, it’s time to move to the Exchange. Click on “Exchange” from the top menu, then click “Basic”.

Once you are in the Exchange section of Binance, find the pair for POWR and the coin you previously deposited. To do this, go to the search bar in the top right, and enter POWR. You will see pairs for Bitcoin, Ethereum or Binance Coin, Binance’s native cryptocurrency (used for discounted trading fees).

Find the pair you’re after. This will bring up the trading screen for Power Ledger POWR.

Step 6: Choose how much POWR you want to buy

Select the price you wish to buy at, or else click the “Market” tab and buy for its current price.

You can choose to buy a certain amount of POWR, or to spend 25%, 50%, 75% or 100% of the BTC/ETH in your Binance account.

Click the “Buy POWR” button to complete your order.

Step 7: Move your coins to a secure wallet

It’s best practice in crypto to keep your funds in a secure wallet that you control, off of an exchange, when not trading.

Ledger Nano S hardware wallet is one of the safest ways to hold your crypto, and supports POWR. Alternatively, you can use the Coinomi mobile wallet, or a web-based wallet.

Once you have finished your order and your Power Ledger POWR tokens have shown up in your Binance wallet, head to “Funds” then “Withdrawals”. Select POWR from the menu. Enter a withdrawal address (the address from your POWR wallet), and the amount of POWR you wish to take out.

Power Ledger's founders and unique features

Founders

Power Ledger (POWR) was co-founded by Dr. Jemma Green and John Bulich in 2016. Dr. Jemma Green is the Executive Chairman of Power Ledger. She spent a decade as an investment banker in London before returning to her hometown of Perth to pursue a PhD in electricity market disruption. John Bulich is the Technical Director at Power Ledger. He is a pioneer of blockchain technology in Australia and a seasoned blockchain solutions expert. Together, they conceived the idea of Power Ledger, recognising the growing need for transparency and peer-to-peer transactions in energy markets, especially with the increasing integration of renewables.

Unique Features

Power Ledger has developed a series of world-leading blockchain energy applications, such as its peer-to-peer (P2P) energy trading application. Its technology enables the sale of surplus renewable energy generated at residential and commercial developments, putting the power to manage the energy economy into the hands of consumers.

The platform has a dual token system, with POWR tokens serving as utility tokens and Sparkz as electricity credits tethered to local markets. Power Ledger combines renewable energy and blockchain technology to offer energy solutions that are cheaper and more sustainable than traditional alternatives.

Power Ledger's software is designed for provenance tracking of energy and portfolio management, providing alternatives for cheaper renewable energy through secondary markets and P2P energy trading. It also builds efficient marketplaces for environmental commodity trading.

The company's solutions use blockchain in a variety of ways, including tracking each kilowatt-hour in terms of type, time, and place, as well as recording transactions between buyers and sellers of environmental attribute certificates.

Power Ledger's blockchain-based P2P energy trading technology has facilitated groundbreaking regulatory changes in India, and its solutions are being used by power utilities, governments, and large corporations across the globe.

Frequently asked questions