There is an incredible amount of information about cryptocurrency and it can be overwhelming to research. It’s great that you’re interested in expanding your knowledge base on this topic, but before you start reading the article, there is a brief overview so that you’ll have a better understanding of what is going to be discussed.
Cryptocurrency is the easiest way to trade or purchase products without an instant converter like PayPal or another centralized party.
Cryptocurrency has a variety of definitions, but the most common is this: It’s a digital currency that is secured by cryptographic measures. Think of it as a form of digital gold; cryptocurrency cannot be counterfeited because it’s unique and private. Because cryptocurrency isn’t physically printed in high volume, it has become an investment opportunity for those with an eye to making money. In fact, some people have made millions just by investing in bitcoin early on.
In order to generate cryptocurrency, you must start with a parent currency like Bitcoin.
The Million Token is a utility token that will be the first token with instant conversion to fiat currency. This means the Million Token will be able to provide the liquidity needed for payments of goods and services with merchants, while other cryptocurrencies may not possess such attributes.
The Million Token will be a stablecoin, allowing the price of this token to remain consistent with fiat currency on a 1:1 ratio. This allows for a better exchange rate for payments in the long run. The 1:1 relationship allows merchants to lock in the purchase price of their products and services at various points in time to increase their profit margins by 10-15%. Let’s say you can buy a product for $100 and sell it after one year for $125.
Million Tokens have a fixed number of one million tokens, so it is not possible for this token to go up in value or become worthless. Its value and purpose are in the merchant accepting it as payment; therefore, you can be sure your purchase and sale prices will remain consistent with fixed numbers of coins.
The Million Token has been created as a stablecoin; that is, its price will be fixed at $1 US currency at all times. It cannot exceed this maximum value and does not have a minimum.
These features distinguish it from other cryptocurrencies that have a maximum value and no minimum. It is possible for the value of these coins to fluctuate wildly in times of high volatility. The cost of transaction fees also increases during high periods of volatility, making this type of cryptocurrency less desirable compared to fixed-price stable coins such as the MIL.
The Million Token will never lose its fixed exchange to US currency and should be able to handle large transactions because the price of this token remains at $1 US per coin.
To achieve these goals, the Million Token has been created in a way to is more stable and easier for merchants to accept.
Despite having a fixed exchange rate, the token will be able to increase in value by a fixed amount each month. This will allow traders to pick up cheap tokens during low points of value and sell them during higher periods of volatility.
Who is the founder of Million Token?
Million Token was found by Patrick Shyu. Patrick Shyu is a software developer who had worked at Google from 2014 to 2018 and Facebook from 2018 to 2019 before he was allegedly fired from his posts there. He is running a popular youtube channel. Patrick Shyu YouTuber is popular by the name “TechLead”. His youtube channel was launched in February 2018.
What makes Million Token unique?
Million may be a scam or it may not, but it’s an interesting experiment in social dynamics and what they can do to markets. The other interesting aspect is that TechLead claims to have backed up the supply of Million with USD dollars, so even if this project were to fail there would be some residual value left over for everyone who bought in. Million is not a classic meme coin, but it also cannot be called a “normal” cryptocurrency.
While its founder TechLead prefers to call it a social experiment and an opportunity, others have opined it to be a scam. The fact that TechLead has a massive following of people initially pushed the price of Million up significantly. This was helped by making headlines in crypto news outlets and discussions on Twitter.
The most interesting aspect is that TechLead claims to have backed up the supply of Million with USD dollars, so even if this project were to fail there would be some residual value left over for everyone who bought in.
Million may be a scam or it may not, but it’s an interesting experiment in social dynamics and what they can do to markets.
Million Token prices:
A Million Token price in May 2022 is $4.24 with a 24-hour trading volume of $46,762.96. It has a circulating supply of 1 Million MM coins and a total supply of 1 Million. If you are looking to buy or sell Million, Gate.io is currently the most active exchange.
What was the highest price for Million Token?
Million hit an all-time high of $223.17 on Jul 14, 2021 (11 months).
What was the lowest price for Million Token?
Million had an all-time low of $2.54 on May 11, 2022 (19 days).
What was the 24-hour trading volume of Million Token?
The 24-hour trading volume of Million is $46,762.96.
When did Million Token trading Begin?
Million began trading on July 13, 2021, and reached an all-time high of over $200 after a single day. It has been in a steady downtrend since and is trading around $40, a month after its launch.