As we are getting closer to the metaverse, we are beginning to invest smartly too. There is no lie in acknowledging that cryptocurrencies have become one of the most popular forms of investment that not only have low risk but also pay high returns. And in a very short period of time. Many people around the globe are investing in popular cryptocurrencies like Ethereum, Bitcoin, Dogecoin, etc. However, another new cryptocurrency has been launched with the name Ratcoin and everyone on the internet is wondering what is Ratcoin Elon Musk is promoting? Does Elon Musk own it? Is it worth it as an investment?
Worry not, here we will discuss this new cryptocurrency and will see if this is something you should put your hard-earned money into and how to buy Ratcoin if you are interested.
Is Ratcoin a new cryptocurrency?
|Max Supply||9,000,000,000 (9 Billion)|
|Block time||3 Minutes|
|Algorithm||Scrypt POS / POW|
|Premine||20% (1.80 Billion) made up of:13.49% for the swap (1,214,430,975.76010)4.26% for Development (383,228,755.00000)2.25% Community Fund (202,340,269.23991)|
|Coin Maturity||30 blocks|
|Stacking Maturity||30 Blocks (~1.5 Hour)|
|Target spacing||3 minutes|
|Target timespan||1 block|
|Transaction conformations||30 blocksPow 0 coins per block till block 200k|
First things first, before we get into the details, let’s discuss what is Ratcoin? This new cryptocurrency launched in the market recently works on and records its transactions through decentralized blockchain technology. The company to launch this new cryptocurrency has described it as, “The goal of the project is quite simple: deploy a fun coin that will ever infest your life,” on their official website. In short, this is kind of a Dogecoin in the sense that you will not be able to make necessarily heavy profits.
Now that we know what this cryptocurrency is and how it works, let’s see if the claims that many are making that Ratcoin is owned by Elon Musk are right or fake?
Does Elon Musk own Ratcoin?
As the new cryptocurrency Ratcoin hit the market, many people started speculating if Tesla owner, Elon Musk has something to do with this, or if he owns it. Some twitterers also made claims on Twitter as well. However, in the recent light of events, the company Tweeted to clarify that Elon Musk has nothing to do with the recently launched Ratcoin.
After clearing out the Ratcoin Elon Musk controversy let’s see if Ratcoin is a good investment and if it is, then how and from where to buy it? But before that, let us answer another most asked question:
Is Ratcoin a scam?
While Ratcoin is relatively a new cryptocurrency, therefore people are questioning its credibility and are curious to know if this is legitimate. Apart from this, many are speculating rumors around the owner of the Ratcoin – if not Elon Musk then who it is. Because this is just the newly launched currency, there are many things that we have to learn about it, before trusting it completely. Hence, we must be vigilant towards the updates regarding this cryptocurrency. All in all, because it is new, there is no question of its credibility, but still, there is much information that is yet to be revealed.
Should I invest in Ratcoin?
If you are looking forward to investing in this new cryptocurrency, then you must know these things before you put your money on it. According to the Ratcoin website, the maximum supply of these coins is capped at 9 billion and for Ratcoin mining you need 3 minutes of block time. If you wish to look into its technicality in detail, then refer to the Ratcoin specification table above.
Moreover, as per the stats, Ratcoin was made public on February 18 and already has 1.8 billion coins in circulation with a $62000 market capitalization. As per the investors, the value of Ratcoin won’t significantly change until it reaches its capped limit of 9 billion coins being reserved for sale. Other than that if we look at its value increase since April, it has increased 22090 percent in February, taking the value of the coin from $0.00967719 to $0.001. Now looking at the stats we can only advise you that investing in this cryptocurrency is a good idea because it is highly unlikely for this coin to become extinct with a less than $1 million market cap.
From where and how to buy Ratcoin?
Ratcoin can also be bought like any other cryptocurrency if you know where to get it. According to the owner’s website, FreakExchange, Stake Center and Bololex are the crypto exchanges you must look for to buy Ratcoin. Moreover, if you store this coin in your physical wallet, then you can share or trade it independently with anyone you want. To check how much the Ratcoin is at the moment, you can go and check it on the website.
Regardless of if you are planning to invest in this Ratcoin Elon Musk cryptocurrency now or are waiting for the right time, one thing is to train and that is to do your research thoroughly. This kind of investment is already risky; therefore, readers are advised to make the moves smartly. Other than that, we hope this is helpful, and stay tuned for further updates on what is going on in the crypto world.