Crypto Academy Lesson 6: How To Invest in Cryptocurrencies – by @besticofinder

Hi everyone, welcome to this week’s lesson 6. In this homework post, I will be answering this week’s task on investing in cryptocurrency projects. This is one of the most popular questions when it comes to cryptocurrency and also giving my opinion and knowledge about a project I feel is worthy of investing in, what the project is about and key elements about them. I have to say, this lesson 6 topic by the Steemit crypto professor @besticofinder is really an interesting one because it is a topic that most people in crypto at the moment are interested in. The project I will be giving my knowledge on is Nimiq.

Cryptocurrency has been one of the most talked-about topics in recent times and while there have been ups and downs, it has continued to grow and remained one of the main topics on the internet. More and more people are discovering the power and benefits of blockchain technology and cryptocurrency. Like we have seen recently, various institutions are coming into the sphere, we have also seen big investors in various sectors invest heavily in blockchain technology and cryptocurrency. Bitcoin being one of the most popular and the coin that has gained so much attention, as big investors are seeing the benefits and potential and are investing in bitcoin and other cryptocurrencies. With the continuous growth cryptocurrency is gaining recently, various cryptocurrencies reaching all-time highs, BTC moving at a rapid rate, people in the cryptocurrency sphere are constantly looking for investment opportunities and cryptocurrency projects with huge potentials to invest in.

Source

Nimiq

Nimiq is one of the coins that have been flying under the radar for quite some time now. With constant developments going on, nimiq is beginning to gain the deserved recognition and attention. The need for simplicity and fast transaction times has been the order of the day for cryptocurrency users and nimiq is aiming to solve that while drastically reducing the barrier of entry.

According to the current ranking on coinmarketcap, Nimiq is currently ranked number 342 position. At the moment, Nimiq is listed on Kucoin, BitMax and CoinDCX. Based on the information on coinmarketcap, Nimiq has a marketcap of $104,354,527.49, fully diluted marketcap of $294,792,252.83, total supply of 8,177,612,512 NIM, max supply of 21,000,000,000 NIM and a circulating supply of 7,433,862,512 NIM.

Project Concept

Nimiq is a censorship-resistant browser-based blockchain with the core focus on simplicity and ease of use. It is a payment protocol that is native to the web. Nimiq was launched in 2017 and was designed to run in an Internet browser. Its core concepts are decentralization, censor-resistant payment protocol that runs on a web browser. Nimiq has an ecosystem of applications with a core focus on simplicity and ease of use.

Social Reach

Like I mentioned earlier, Nimiq is beginning to get the deserved attention and people are beginning to recognize the potential of the Nimiq project and what they are aiming to solve in the crypto sphere. The nimiq project is quite active on social media platforms as Twitter and youtube are two of their main social channels to communicate and interact with the nimiq community. They are also on medium and Reddit. The nimiq Twitter channel with over 25.5K Followers is active with constant updates and milestones. The nimiq youtube channel is really active as well with constant video updates on what is going on in the project and developments by the nimiq team.

Project Purpose

The core purpose of the nimiq project is a censorship-resistant browser-based blockchain with the core focus of simplicity, ease of use, making blockchain technology more accessible. Cryptocurrency payment protocol that is decentralized, simple and easy to use and runs on a web browser.

Nimiq Team

Nimiq has an amazing team that has shown that they have what it takes to accomplish their goals and targets. The project was founded by Elion Chin who was the co-founder and investor at Localeyes & Wappo and the owner of Skyloft before becoming the founder of nimiq. The nimiq team is made of quality names who have experience in their various fields.

Response from the market

While there are a lot of other blockchain and cryptocurrency projects that are aiming to bring solution in the cryptocurrency payment protocol ecosystem, Nimiq is the only project and payment protocol that run entirely on a web browser or native to the web. In other words, nimiq doesn’t have a competition when it comes to the project idea and what the goals they plan to accomplish. The main unique features of nimiq is that it is browser-based and allows for simplicity and ease of use as well as making blockchain technology more accessible.

Deciding Factors/Conclusion

In my own point of view, I like to look at projects that have new things to offer – projects that are building new concepts and are unique. Nimiq is one of the projects that fill in that role because what they are doing is unique and above all, they are also making it super simple and easy to use for an everyday user. I like to look at the fundamentals of the project as well, the max supply, marketcap and how active the project is in terms of development and social reach. Nonetheless, it is always important to do in-depth and proper research before investing in any crypto project.

Cc:
@steemcurator01
@steemcurator02