Token Redenomination - Crypto Academy / S4W3 - Homework Post for @wahyunahrul

1). Explain what is Token Redenomination in your personal opinion? What distinguishes it from currency or other assets redenominations.

Token redenomination:It is simply a process whenever a coin is duplicated by a sure investors.This usually occurs because of the worth of token reaching high rate,That is permitting a plan of a downward change in our selling and buying strength of our token.Through here the duplication of our token which help the value of the coin to be less expensive,Will create a way for the small investors to be able to buy and also take part in the investment.

The main idea for token redenomination to be introduced in the crypto ecosystem,Is purposely for investors with less capitals to be able to take part in the investments exactly the same as investors with much capitals.

What Differentiates Crypto Redenomination from other assets?

Usually the token redenomination vary from the other assests because,With the token redenomination decision making are usually made by only creators to the transformation of our token.Whiles the other assests such as fiat currency,A group of large and useful collaborator is always included,This will make their total useful reaction to suit their final push.

Mention the advantages and disadvantages of Token Redenomination

ADVANTAGES.

• Token redenomination help to make the coin very cheap to the small investors,To also invest in the coin.

• Token redenomination helps to make the transactions fees of the coin in market to be expanded.That’s whenever the worth of the coin rest at a high rate,This is going to make not many investors to be on market and only a small transaction will be done on the market,With the token redenomination it will be also be made possible for all the small investors to be on the market,This will help increase the trasaction made in the day or on market.

• Token redenomination help to improved the standard of the coin,That is the purpose of growing the provide of the token and also decreases a bars which happens because of high price rate,This usually assist in developing the community.

DISADVANTAGES.

• Usually users new to the crypto world sees the token redenomination to be a fraud.

• Token redenomination is not familiar to all investors on market,This will make the investor scared and will withdraw all their assets or funds.

• After the token redenomination investors must change their coins,Other platform take charges before this operation can be done,This is also going to make investors to spend on unneeded cost.

• Investors having no idea about the name of the coin been changed will quit from the crypto market.

Do all cryptocurrency projects need to do Token Redenomination? Explain in your personal opinion

To my understanding am not sure all cryptocurrency project need redenomination,With a reason that there is going to be a dupe whenever the token redenomination get hold of in a good firm of a cryptocurrency forecast.Cryptocurrency forecast which is made of many investors,Which is very powerful and having a firm coin price,And also having a firm forecast do not need the token redenomination.

Pick a project that has or is doing Token Renaming and show how to convert old tokens to new tokens.
(Screenshot required)

I would to pick the pundex and show how to convert from old to new tokens.Kindly follow the steps below.

• You would first visit the pundix by click on this link

• You would then click on swap now on your home page,After clicking you will be taken to the swap site

• You then connect your wallet,I personally decided to add my metamusk wallet.

• After approving it will be successfully added.

• After your wallet is successfully added you then go back to your browser and enter the amount of NPXS your would like to convert.

• Unfortunately for me I do not have enough token to perform this task.But you could follow my steps to change your old token into a new.

• You will put the number of NPXS tokens of your own choice,After that you would then see the number of pundix token you will be getting when done with your swapping.

• When done your token would then be changed into a pundix token.

Analyze whether the token from the project you chose in question number 5 is worth investing in. (Screenshot Required)

From my good understanding of pundix I can boldly say it is one of the best project for an investor to invest in there.As we all know the pundix usually operate on the Ethereum blockchain,This helps to allow the possibilities of pundix moving to a high rate and the pundix is also having a high outline which is attached to their project.

As the current time I was performing this task we have the

Current price =US$1.271

Market cap =US$328.6 M

Rank = #235

Fully Diluted Market Cap =US$328.64 M

Trading volume 24hrs =US$ 29 M

Circulating supply =258.49 M

Unfortunately from our market chart the price of the pundix token is in the lowest price as the time I was performing this task.To my good understanding I can clearly see from the chart that there is a possibility in the increase of the price on market.For the user to have a good prediction or examine the technical indicators must be used.

CONCLUSION

I would like to conclude my task by,The token redenomination is one of the best way coin makers or developers used in promoting their token to get more investors to come and invest in their token.The token redenomination is also helping users with less capitals to also invest in the token exactly same as users with excess capitals,This has also help to grow the ecosystem.All investors who would like to invest in certain token must carefully study the token they are investing to avoid all fraud or to fall victim to scam.