Like SHIBA INU, but with a difference in token metrics, one more cryptocurrency token is making sound in the crypto market today. It is none other than, Husky Token. HUSKYX is a cryptocurrency token launched in 2021 and is performing on the Binance blockchain platform. Husky price has risen to 18.99% in the last 24 hours and its trading volume it is $16.255.75. The market cap of this digital token is $1.5 billion. The max. supply is not available for this token. The circulation is 990,030.97 billion tokens.
Husky Token has emerged through the decentralized community experiment. The community is now claiming that half of these token is with Vitalik Buterin and half of them are locked in the Uniswap pool.
The lesser-known cryptocurrency Husky has achieved eye-popping returns in just a few hours. The growth of this token has put it into the list of SQUID, Kokoswap, and Shiba Inu which have already proved their presence.
The lesser-known crypto token has surged from $0.000000008738 to $0.000001485 in just 24 hours. The dog-themed coins are doing sound in the crypto market these days and the Husky has joined the list.
The HUSKYX token is under the concept called ‘rebasing’ which takes care of the increasing and decreasing supply of the token. The value of the token doesn’t change even the supply decreases or increases. This drives the token HUSKYX.
The husky token is rare as the supply of it always decreasing and this is why it’s called a deflationary token. Tax is applied on the HuskyX transaction and a small portion of the coin is burned. But as per experts, holding such tokens is rewarding too.
According to a crypto expert, this is a meme coin and the sudden rise of its price won’t last for a long but a short period. Investors should be more careful while investing in such tokens. They should consider investing in other tokens too to minimize the risk of loss.
Analysts warn investors on falling prey for fear of missing out. They suggest people understand cryptocurrencies and then invest in them.
Knowing about the HUSKYX coin, now it’s the turn to know if you should invest in crypto or not.
The crypto says you will be rich and at the same time, it says you could lose all of your money. But how both statements are true at the same time? Let’s analyze the possibilities.
What are the risks involved in cryptocurrency investment?
Cryptocurrency exchanges, like stock exchanges, can be targeted by other criminal activities. These securities fail will get the investors the loss of their assets invested in it. The safe and secure storage of cryptocurrency is almost impossible. There are many crypto exchanges out there, such as WazirX, that provide a safe and easy environment for investment.
The offline ‘cold storage’ option is also available which has its own set of challenges. If you lose your private key, it is the biggest risk you have in such storage of crypto assets. It is almost impossible to retain the account then.
The crypto exchange doesn’t give you any assurance for the returns from the crypto project you opt for. Various blockchain projects are emerging out there and many are a scam in the crypto industry. Only a few projects will flourish in the industry.
If the Government sees the crypto industry as a threat to the current financial system of the country, it might put on some regulations. These regulations might crack down on the crypto industry. Since this blockchain, that is, the cutting-edge technology is not developed properly, it would fail in the real-world scenario.
Despite the risks, people are interested in cryptocurrencies and for that reason, the crypto industry is consistently growing. The new payment rules and ledgers have been introduced and this system gives high-grade custody services to the investors.
Since the crypto market is established, it has seen an overall growth and many companies now started to expose to this sector. Many giant companies, such as PayPal and Square are allowing users to buy and sell cryptocurrencies through their platform. Many such companies have also invested in Bitcoin and other such assets. Tesla has bought $1.5 billion worth of Bitcoin this year.
While we have the risks in it, the constant growth shows its maturity in the market. Individuals, as well as companies, find cryptocurrency as a safe mode of investment. The early investors are benefitted much from the industry.
What about long-term investment in crypto?
Cryptocurrencies like Bitcoin and Ethereum are meant for long-term investments. Bitcoin, the first crypto coin is the costliest in the industry, and people want to own it. It is named digital gold which can also be used as digital cash.
Investors believe that Bitcoin is made for long-term investment. The supply cap of Bitcoin is 21 million coins. People lost interest in fiat currencies in the bank which has low-interest rates. This is why cryptocurrency investment is more popular. Even though Bitcoin is considered to be digital gold, Ethereum is popular for its global computing platform. It supports other small currencies to host in their decentralized application.
A large number of cryptocurrencies are hosted on the Ethereum platform which has open-source apps. This is why many investors see Ethereum as the most sustainable, long-term investment match.
To diversify the portfolio, investors look out for Bitcoin. Globally the cryptocurrency transactions are allowed and it makes sense to own some of them into the portfolio. If you feel that it is risky to own cryptocurrency, you can consider buying stocks from the companies such as Square, PayPal which facilitate crypto trading.
Blockchain technology is innovative and has a good future. However, it is not possible to predict if the projects are going to sustain. Therefore, it is advised to research or learn about blockchain technology and start investing in it. The execution of blockchain technology is in question even if it has the right potential.