ChatCoin (CHAT): Why HODLing Can Be Beneficial
As several of the big guns are suffering from market volatility, new ICOs are getting tokenized every day with new features and advantages. Each of these new coins focuses on separate aspects and offers their own blockchain technology to ameliorate the existing state. For example, coins like All Sports Coin concentrate on the sports industry whereas cryptocurrencies like Tronix or TRX are disrupting the entertainment industry by making various entertainment contents more accessible to its users. ChatCoin is one similar cryptocurrency that is committed to improving the internet-based communication system that currently exists.
Nowadays, applications like WhatsApp, Facebook Messenger, etc. have become an inextricable part of quotidian human life. These mobile apps also offer their support to the e-commerce industry along with gaming websites and various other advertising agencies to promulgate their products and services. ChatCoin endeavors to offer a decentralized blockchain ecosystem supported by cryptocurrency CHAT and with a considerably improved set of features over the existing applications.
As we all know, the current cryptocurrency market is fiercely competitive with many new coins vying for the leading positions. Under the circumstances, new features and a considerable improvement over a largely popular application can grab the attention of many traders. Here, a few aspects of ChatCoin would be discussed to explain why holding on to this currency could be rewarding in future.
Internal Architecture and Distinct Features of ChatCoin:
ChatCoin is the default currency of an instant messenger dApp named BeeChat. BeeChat is an ingenious application that follows Qtum’s technology. This application eliminates the distinction between human interaction and professional transaction through its innovative light wallet extension.
Although some individuals have become conversant with the names of some highly popular currencies, a large portion of this cryptocurrency market is completely obscure to a large portion of people. Moreover, various technical jargons associated with different currencies have made these digital coins even more incomprehensible. ChatCoin’s own blockchain platform named OpenChat offers a system where cryptocurrencies can be used organically without knowing the exact meaning of different technical terms.
The Instant Messenger (IM) applications like Telegram, Facebook Messenger, etc. have worldwide popularity nowadays. Since its introduction in the market on January 19, 2018, ChatCoin has been putting its best foot forward to offer similar application to its traders with a convenient, user-friendly, and fast peer-to-peer transaction system.
ChatCoin Distribution and Availability:
During its ICO period, 40% of CHAT’s available coins which is 1 billion were distributed for trading and transaction purposes. Therefore, 400 million tokens are now available for trading. Despite the fact that the source of development of so many tokens is still slightly obfuscated, ChatCoin was listed two of the most reputed cryptocurrency exchanges – Binance and OKEx. CHAT traders can rely on both of these exchanges for trading or exchanging ChatCoins with other currencies.
Potential Customers of ChatCoin:
With mass digitization, the currency and blockchain ecosystem of ChatCoin can grab the attention of many online advertising or digital marketing agencies along with online gaming and entertainment companies as well. The peer-to-peer transaction system offered by this coin would create a hassle-free payment and transaction facility where no content would remain inaccessible to its user. Also, its decentralized system would compel companies across the world to trade and conduct their business with this currency from any part of the world.
ChatCoin would also eliminate the unnecessary cost of middlemen by effectively lowering the transaction cost. As a result, the denizens and business organizations of developing countries would also be able to use this currency without any obstruction.
Current State of ChatCoin:
From an overall perspective, ChatCoin’s current position on Coinmarketcap might seem a little bleak. It holds the 1336 position with a price equivalent to approximately $0.13 and a daily trading volume of nearly 7.4 million USD (as of 7th May 2018). In recent times, the coin’s price has shown a steady upward trend owing to its recent developments.
Cryptocurrency market is a constantly changing place where new coins make considerable improvement overnight. As ChatCoin focuses on something that is quite certainly the future of the modern society, holding on to it can be rewarding for its traders. If it manages to compete with the big guns of Instant Messenger applications with its new, innovative, and affordable platform, its bleak days might be over fairly soon.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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