KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally. Staking crypto entails locking up your crypto asset to secure a particular network. Crypto staking is common with cryptocurrencies that use a Proof-of-Stake consensus algorithm. In comparison, assets like Bitcoin use the Proof-of-Work model to validate and secure transactions on their network, while others like Cardano and Polkadot use the PoS model. Crypto staking is a great way to earn passive income, and it is also a more energy-efficient model to mine new coins for the network.
Driving this adoption is the platform’s underlying incentive system that promises higher returns for those willing to stake their crypto assets. This entirely depends on your own investment strategy and financial outlook. If you aim to speculate on long-term price increases by holding your TOMO tokens for a prolonged period of time, the fundamental growth of the TomoChain platform could drive the price of your TOMO up. If this is a thesis you believe in, now could be a good time to get some coins. Cryptocurrency gains value through adoption and market speculators. If the demand for a digital asset is high, then the value would rise. The more people who are willing to use a digital asset, the more likely it will increase in value and prominence.
Step 1. Find an exchange
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Contrastingly, if you are a short-term investor, the growth prospects of TomoChain are much less relevant. You should be focusing on technical indicators to plan a good entry point before selling for an elevated price.
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) Do you want to hold TOMO for the long term?
This allows you to gain more exposure to the price of TOMO than your initial investment would usually allow, but this also applies if the price falls. Simply deposit fiat money like GBP, USD or EUR into your broker account. An important thing to remember is that before you make a trade, check that you are happy with the trading fee because you will not get this back. When it comes to funding your account, most exchanges accept funds in the form of fiat currency and you can also use crypto like Bitcoin.
If TomoChain can market itself better and launch its platform successfully into the mainstream before any of its rivals, TOMO tokens could be poised for significant growth. VinDAX Exchange has been live for cryptocurrency trading for global users since March 2019. VinDAX focuses on providing exchange services for digital cryptocurrency transcations with high security level, excellent efficiency and well-optmized trading fee. Above all else, the Tomochain mechanism allows stakers and masternode operators a chance to garner higher economic rewards.
Step 2. Deposit money
While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible. Cryptocurrency works with the help of the blockchain, miners or validators and the users. Once one user sends a cryptocurrency to another, cryptocurrency miners validate and then add the transaction to the blockchain.
- Tomochain’s so-called staking wars have intensified as potential masternode operators go head-to-head for dominance on the new network.
- According to data from StakingRewards.com, the average TOMO staker can expect an annual yield of 9.2% at current prices.
- Cryptocurrency works with the help of the blockchain, miners or validators and the users.
- TomoChain is a form of digital cryptocurrency, also referred to as TOMO Coin.
- These are accounts that function just like the real thing except with virtual money, and they can be a great learning tool before put your capital on the line.
- According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
CFD crypto trading is unavailable for clients residing in the UK and US. When your account is fully funded and ready to trade, make sure that https://www.tokenexus.com/ you are comfortable with the risks and have sufficient experience. If you need some time to learn the ropes, just use a demo account.
How to trade TOMO – a step-by-step guide
The information in this article is supported by the following reliable sources. If you aren’t quite ready to decide if investing in TomoChain is right for you, here are some of the pros and cons. If you want to know where to buy TOMO coin online, simply click one of the links below. These options are some of the top brokers around as reviewed TomoCoin by our team of experienced analysts. If you want to keep learning about TomoChain, scroll down for more information. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. I have read and understood Investing.com UK’s comment guidelines and agree to the terms described.
Due to its consistent yields and low barrier to entry, many crypto exchanges now offer Staking-as-a-Service to their users. TomoChain is a form of digital cryptocurrency, also referred to as TOMO Coin.
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These are accounts that function just like the real thing except with virtual money, and they can be a great learning tool before put your capital on the line. Trading TOMO can be done in a variety of different way, but everything revolves around the technical analysis and key indicators. This includes things like bases, Bollinger bands and stochastic oscillators. If you can spot a pattern as this develops and make your entry at a good price point, you could be in for meaningful rewards.
Author: Milko Trajcevski