The current crypto winter has been tough on many investors and traders in the space. Many have seen their portfolios decimated and are now wondering if now is a good time to get into cryptocurrency. The answer, as with most things in life, is it depends.
In recent years, the cryptocurrency industry has seen explosive growth, with projects and coins appearing and disappearing at an ever-increasing pace. In this rapidly changing landscape, it can be difficult for investors to keep track of which projects are worth their attention.
With the Terra (Luna) mess in the rear view mirror, analysts are examining why it collapsed and how to ensure that the market avoids another catastrophe at that scale.
The collapse of Terra (Luna) could have been avoided
Terra could have most effectively prevented the collapse by announcing publicly a standing massive bid for LUNA. This principle is a guiding light for another project that has consistently managed to stand out called My Freedom Coin.
My Freedom Coin is a decentralized cryptocurrency that is crash proof, with a number of additional features and benefits that make it worth adding to your portfolio. In just a few months, the project has established itself as one of the top crypto projects in the industry and is poised to continue its growth in the years to come.
Addressing the problems of a traditional financial system
My Freedom Coin has addressed a number of concerns stemming from Terra (LUNA) with a new paradigm for cryptocurrency trading, holding, and collateralized lending.
MFC is a wallet, a store of value, and an exchange all in one, and it was built from the ground up to be crash-proof—a remarkable achievement in light of the recent horror witnessed by Terra project participants.
Terra was a reflexive asset – if everyone believes it’s worthless, it becomes worthless.
MFC is different, even if you believe MFC is worthless, your MFC is still collateralized to BUSD, one of the most stable of all stablecoins as it is backed by Binance. MFC is more “stock-like” than “crypto-like” when compared to other digital assets because it is not intended to be as volatile or susceptible to market crashes.
Crypto experts say that My Freedom Coin offers an innovation in the DeFi space, and the MFC token and ecosystem have already received extensive coverage. The project is appealing to crypto investors because it simplifies a complex process into a single investment vehicle with a crashproof structure.
Bringing value to its holders
My Freedom Coin is built on the Binance Smart Chain. Through the valuation of the coin, all token holders benefit from each transaction in the ecosystem, giving it consistent and stable growth that benefits all shareholders.
So, how does it work? MFC has a fixed supply of 7 billion coins that have been distributed through a series of offerings. The funds raised through the MFC coin offerings are held in the BUSD Treasury.
This Treasury accumulates and holds enough money to buy every coin in circulation. This is known as ‘The Floor,’ and it refers to the coin’s absolute lowest price, which only rises over time. Each new offering releases the coin at twice the ‘Floor Price,’ raising the value of ‘The Floor.’
For everyone who owns tokens, this program is impressive because it increases the stability and value of the asset. The protocol makes it possible for users to directly benefit from one another through transaction fees, exchange fees, and loan interest by taking coins out of circulation, increasing the floor price. This alters how conventional financial systems function and offers all the advantages to MFC holders.
There are a few factors to consider when trying to decide if now is a good time to invest in cryptocurrency. The first factor is your risk tolerance. If you can handle the volatility that comes with investing in cryptocurrency, then now may be a great time to get involved. Prices are down from their all-time highs and there are many bargains to be had. And if you are looking for a project that has a floor price and has been built to withstand collapse, this could be the perfect investment for you.
None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website.