STEEMCRYPTOACADEMY WEEK14, HOME-WORK POST FOR PELON53
Hello professor @pelon53, thank you very much for this wonderful lecture by you I really appreciate trust me I learnt alot.
When we talk about penny what we are basically talking about is a coin that is equivalent to hundred of pounds, little sum of money, therefore by my own understanding I will regard a penny currency as a currency that is small basically less than $1. Due to it's small nature it's thereby dominating within a currency system.
The Nigeria penny was originally a 0.942 fin-silver all round coin it was weighing about 1/240 pounds. Penny currency was taken by Offa of Marcia the English King it was stagnated it was the principal all time currency in the European countries over a few decade until there came a repeated database regulating different currencies.
there was a development of various coins too.penny currency in general was a British money it remained a silver coin until there came an expense in the Napoleonic war in 1797.
Advantages of penny currencies
With penny currency you can invest in any crypto of your choice without spending big since it's a currency that is less than $1.
Penny coin are usually volatile meaning that it tend to increase at higher rate up to 200%, in a week or in a single day.
- The risk at which investors will loose capital is very small, because an investor doesn't need large amount of capital to start trading.
Disadvantages of penny currencies
Penny currency volatility seems to be on a high standard therefore every investors will like to invest big in order to own then since their value is so low. Let's imagine you want to buy a currency that is 0.0002 what you need do is to buy in large quantity.
You may be wanting to hold as many as you want thereby you will be subdue to holding massive coin more than you even budgeted initially.
Their record is very low and their rate seems to be liquidateful, it might be difficult for you to sell then off, prior to lack of personnel to purchase then.
for you, what will be the best penny to invest in 2021. Explain and show Evidence
For me I will choose Tron as my preferred penny to invest in 2021, as we all know Tron is a cryptocurrency that is Decentralized and it's value is less than one dollar that's why it's considered as a penny currency. At this time of writting this post one Tron equals to, 0.0868 and it's not up to 100%, just 0.68% at this time of posting this report.
Tron operates on Etherium network previously and it's native discription is TRX, currently as I speak to you Tron now stands on its own at which you can use it to swap to different currencies that exist under it. Tron was created on 2017, it is one of the cheapest currency that is eazy e afford in the market today that's why it's regarded as a penny currency because it's less than one dollar.
From the image uploaded you can see the value of Tron in different exchange platforms, for me I'm very confident that from now till the month of January next year that the value of one Tron will be equivalent to $1, mark my word, why did I say this if you look critically you will understand that there are millions of people holding Tron as we speak and that will help in boosting Tron. Hopefully boss Elon Musk will invest massively in it soon.
Now let's look critically at the price of Tron from last month till now let's see the changes that has occured.
Let's trace back finding the price of Tron from last month been April 2020, from the image from April 29/04/2021. The price of Tron was $0.12, when we entered may 4th it increased to $0.13. moving forward to may 6th it went up again to $0.15, but at the time of writting this post you can see the massive increase ranging at about $ 0.0868.
For me I still believe that Tron is the future cryptocurrency Decentralized to invest in future and I have been doing so too as well, my plan from now till the end of this year is to own up to 9,000 worth of Tron hopefully it will climb $1 soon imagine how much I will be making on the end, Apart from Tron I Believe that crypto is the future.
I will surely invest on ripple mainly looking at the price alone trust me you will be pushed trust me, currently now Ripple is higher than steem and it's more than one dollar so I will most-likely like to invest on it trust me.
Let's not forget that ripple is a cryptocurrency that acts technically as a Crypto and as a digital payment network for financial transaction too. It was officially invented in the year 2012, founded by Chris Larsen, and Jeb Mc Caleb
we should understand that the main purpose of ripple is for making of payment in assets exchange and also remittance system that is very the same to SWIFT system for Fiat and security transfer that is basically used by different commercial institutions thereby dealing with different currencies.
The main aim of XPR is to stand and operate as an external mechanism of a key exchange between any two currency or network as a sorts of a temporary steelement layer domination.
XRP is a Crypto that is built on a blockchain based digital payment network with it's cryptocurrency itself.
Instead of blockchain mining ripple makes use of a consensus mechanism through a banked-own group that confirms different transactions.
Ripple transactions seems to be cheap thereby consuming lesser energy, it consumes lesser energy than Bitcoin itself.
It Rank is pretty cool as it is among the top 5 most valuable block-chain based token by market capitalization.
Let's check out the price of Ripple from last month till the starting of this month, let's see what changed
From the image I uploaded you can see starting from April 24/2021, you will see that the price of Ripple stood at $1.17, now getting to April 2021, the price went up again to $1.40, it went up again now getting to may 01 2020.
it popped up again to $1.60, waw to tell you that with ripple the future is bright, now as we speak checking through coin-marketcap the price of ripple is currently revolving at around $1.16. Seems to be lower not but it will still rise trust me.
Why I so much like ripple network is that it doesn't run with any proof of work (PoW) system, just like Bitcoin. Or opposite of proof of work which is proof of stake (PoS), thus ripple transactions depends and rely on consensus system.
In other words in order for you to exenorate transactions on the system, ripple keeps a keen eye on IOUS credit and different transactions plows on different ripple wallets.
In some cases some financial transactions some financial transactions history are recorded on a ripple blockchain and it's made available, you should recall that the data is not linked to the identification of the account of any investor or a business Enterprise to be used by commercial Banks. Although various investors may speculate prices of ripple.
In the previous two days ripple has gained 10%, at this particular time of writting this post XRP/USDT is been traded at around $1.45, having turned almost all of Tuesday profit and it's falling by more than 5% in the previous 25 hrs.
I do invest every-week if not everyday, depending on how the week enfolds for me. What I usually do is to buy some coins that hasn't had some value I might buy a coin for 2k worth 28,000,000. I will leave it as a long time investment.
Sometimes too I do swap my Tron for weaker coin so every-week I make investment I belong to different watsapp groups too where I do buy other cryptocurrencies too this week I make some investment via my trust wallet where I bought some Tron.
As I invested this week via Tron using my Trust wallet I'm more likely to invest in other penny currencies too, not just five penny currency I'm looking forward to investing more, and more penny currencies as time goes on.
I will present a possible penny currencies I will prefer investing on as time goes on, out of the five I have invested in one the following are my possible penny currencies I will investing soon.
I have made a comprehensive study about each of the above listed coin, the five above listed coin out there is the future, because so many investors now owns then buying then in billions, and as many people owns it , it will most-likely boost.
Presenting data confirming my choice has to deal with the market capitalization of the above selected penny currencies I desire to investing in 2021. If out of 5 penny currency you are able to invest in one the future is very bright for you because surely it must surely rise.
I made a buy this week as my weekly investment as usual, a friend of mine introduced me to a particular penny currency that is under the ETH-20 chain, I did a comprehensive search about it and I realized that they have some future plan toward it up to the extend of wanting to generate 1.3 billion of it in the next 10yrs.
As you can see from the image I uploaded there are over 3 thousand people already holding the coin as we speak. And it's price is starting to be encouraging
After which I invested and bought it in a huge amount 10,000,000,000. Hopefully it will rise and get to 1 dollar before December so that I can be able to sell some.
First of all I joined a Crypto watsapp groups, and I asked if anyone has the coin I wanted to buy, hopefully somebody has it so I quickly pasted my address to him and he sent me the coin, and I paid 2k. It's not something that is hard it's just very simple.
cryptocurrency blockchain has made everything eazy and very understandable. Hopefully this week I will purchase more coins and wait I'm doing this for future investment hopefully we will all become millionaire's as time goes on.
Thank you very much professor @pelon53 I really appreciate you for this wonderful lecture, trust me I learnt alot.
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