What is Moonshot?
Moonshot is a special type of cryptocurrency. A unique crypto as it has protocol rewards a buy and hold investment strategy over a high volume trading strategy. The term deflationary in it means total supply of crypto assets decreases over the time.
The crypto started with a total supply of 1 quadrillion tokens. It has currently burned over 300 billion tokens. While, the protocol in it means simple description of the blockchain that underlies crypto assets.
The liquidity protocol is the blockchain which pays money to people holding MoonShot tokens.
Moonshot Business Model
The business model of the cryptocurrency wants traders to incentivize them to hold their tokens in crypto wallets. If no trader is selling the crypto token Moonshot, the protocol ensures that the price of Moonshot increases.
Traders can win with coin buy just by buying and holding it. Also, they get paid for every transaction. Traders with Moonshot have an incentive to spread use of Moonshot. In addition, the number of transactions increases the net worth of individuals with it also increases.
Besides, Moonshot is also launching non-fungible tokens (NFTs) to reward the users. It will be like a NFT loot box program, animated NFT series, NFT game assets, arcade style games for lottery and competitive playing.
How to buy Moonshot cryptos?
Moonshot crypto is available on several crypto exchanges for trading. But traders cannot buy the crypto directly with fiat money. There is a small process which goes behind buying Moonshot cryptos.
Below we have discussed the steps to buy the coin online and make easy trading:
Select Trusted Crypto Exchange
The first step to trade in the coin is to find the best supporting crypto exchange. Traders can analyse the exchange on the basis of the availability of coin, services, tools and regulations.
Also, traders can check whether the exchange supports their trading goal or not.
Get Verified Account
Next, traders have to open an account with the exchange. They can easily register with the exchange by providing basic information and then verify their identity to trade.
Traders for verification can provide their driving licence or any other government approved document.
Buy Major Cryptocurrency
After that traders buy any one major cryptocurrency online. The platforms available have various cryptos to trade like Bitcoin or Ethereum. But before that they have to set their payment system.
With payment methods they can deposit funds to buy the coin. Traders can use the trade on the exchange to invest.
They confirm their transaction and buy the major coin.
Account with exchange having Moonshot
The step is to open another trading account with an exchange that offers Moonshot crypto. Traders for this have to analyse various exchanges and select the suitable one.
They create their account, complete the verification to trade further.
Once a trade has an account, they transfer their major cryptocurrency to the exchange’s account with Moonshot crypto. Traders can do this by using the transfer option available at the platform or even the deposit can be used in Moonshot cryptocurrency exchange.
The following step is to buy Moonshot crypto using the transferred cryptocurrency. Traders buy the coin with major cryptocurrency. They exchange the coins to get Moonshot tokens.
The swap option or exchange option is what the platforms provide for such activities. The amount of major cryptocurrency is selected and traders can then exchange it for the Moonshot token.
The final step is to confirm the transaction and own the Moonshot token. The process is simple but requires traders time to complete the transaction.
How to trade Moonshot Crypto?
To trade Moonshot crypto is a straightforward process. Traders know which crypto asset they want to buy and pay for the same but in a different manner. They buy a crypto asset first and then transfer that to get a Moonshot token.
Traders buy and sell cryptos to earn good returns. They continuously analyse the market, bet on market outcomes and take their decisions to invest or trade.
Some find Moonshot a good investment with the rewards it offers. However, it also is vice-versa as the buy and hold strategy does not suit each trader. Traders can use various charts, patterns and other services to find the best opportunities and trade in the crypto to earn profits.
In all the process, the most significant is the wallet trader has to store the coin. A robust crypto wallet is necessary for securely keeping the coin and using it whenever required.
It also makes transactions easy as the method is simple and familiar with the trader.
Tools of the Moonshot
Moonshot traders require some tools specifically to make efficient investments. These tools are:
- Best cryptocurrency exchange
- Hardware wallets to secure Moonshot
- Secure internet connection
- Save tax on capital gains
Traders can use the above tools to make their trading Moonshot more effortless. Using them they can make good trades and have successful trading experience.
Moonshot is a good investment option for experienced traders. They require skill to trade in such tokens. The crypto is easy to buy but through a process where the trader has to open an account with two exchanges and then transfer the coin.
However, if the same exchange is offering both, traders can buy crypto coins and then in exchange purchase Moonshot. Overall Moonshot is a good investment to trade online and earn profits.