CoinMarketCap, for example, listed about 2,655 new cryptocurrencies to its database in the first half of 2021 while CoinGecko listed even more.
About 3,064 new coins were added to its database at the same time as CoinMarketCap. Another reason for the risky nature of crypto assets is the high volatility of most of them that makes some investors lose their money along the line. Given this factor, how would you feel then as an investor when you find out that there is a type of crypto that tries to tackle that issue? Elated of course!
HUH Token is a new up-and-coming project, gradually moving into the light before its official launch in a few weeks that aims to reduce the risks peculiar to buying crypto assets. Before investing in cryptocurrencies or any asset as a whole, it is important to conduct extensive research on the project to avoid falling into the wrong hands.
Before deciding on whether to join the “HUH token gang” and enjoy its risk-reducing feature along with others, let us take a look at what the project is all about and consider some of the benefits of investing in it.
What is HUH Token?
HUH, like Shiba Inu and Doge coins, is a meme token. It is a decentralized, virtualized, the digital cryptocurrency, created as the next evolution of a yield-generating contract on the Binance Smart Chain (BSC).
According to the anonymous creators of the coin, the motto of the HUH token project is to ‘challenge the status quo and create a source of income for everyone by rewarding the HUH community with both HUH and BNB tokens.
Since the token has not yet been deployed, its value is presently at $0 with a 24-hour trading volume of $0 but it has a circulating supply of 1,000,000,000,000,000 HUH coins and a total supply of 1,000,000,000,000,000 HUH. You can also trade the token on PancakeSwap (v2) platform.
Features of HUH Token
Below are features of the HUH token that you need to know, some of which are unique only to the network.
Huh First Crypto to Distribute Both BNB and HUH Token
You can automatically claim and receive BNB tokens without doing any work as long as you are a HUH holder. The BNB tokens investors receive in their wallet depends on the amount of HUH they hold.
However, there will be a minimum amount of HUH token a user has to hold to receive BNB during the redistribution. With this peculiar feature of the HUH network, users can have two independent sources of income from the distribution of BNB and HUH tokens.
HUH Token Uses a Unique Referral System
HUH Token, after going live, will become the first-ever cryptocurrency to have a type of unique referral system that benefits both the referrer and the referred. The system, according to the creators, was made in a way that even beginners find it easy to use and also earn additional income.
For a better understanding of what the referral system concept is all about, when a user on the HUH platform refers someone with the referral code, that user gets 10% of the BNB Token from their first purchase and when that referred person, in turn, recommends another person, the first user receives 2% of the newest person’s purchase amount.
In addition, the user that referred people to the platform will also get discounted sales tax of 20% to 10%. With the unique referral system, HUH increases the number of its users and also appreciates them with bonuses.
The Creators Are Anonymous
Like Bitcoin, the creators of HUH tokens are anonymous, although the anonymity state is only for a short while as they intend to disclose some information on their website soon.
Frequently Asked Questions About HUH token
Here are some of the most common questions around the HUH token and the overall project.
How Does HUH Reduce Investment Risk?
Some investors use a type of speculative trading strategy where they hold a tradable asset for one or more days in order to benefit when the price of that asset changes. This type of trading activity is known as swing trading, and it is the reason behind the large fluctuations in price that has caused and will continue to cause many crypto investors to lose their investment.
HUH token, in order to reduce investment risks, prevents swing trading through incentives. One of them is that the network offers different transaction fee rates where investors can buy the token at 15% and sell at 20%.
The network is not a “get rich quick” scheme for investors that lack patience, but it encourages long-term investments, thereby reducing the risks associated with investing in tokens.
How Can You Get HUH Tokens?
HUH works with four simple functions known as Reflection, LP acquisition, Token Redistribution, and BNB distribution with each trade an investor carries out.
During the reflection process, users can receive the tokens and also gain more by holding the previously acquired tokens and not selling them off. The amount of additional token every holder on the platform receives depends on the amount of token held.
HUH, token is an appealing option both for newbies and seasoned crypto professionals. The token has a lot of potentials, and it will be interesting to see how it goes.