If you have invested in Binance Coin or Kucoin shares when it just came out, you would have made quite a bit of profits during the cryptocurrency bull run last year. One of the reasons to that is because crypto exchanges will be heavily in demand by the masses. It is in most of these exchanges that they have their very own token or coin that will get you some benefits just for owning or staking them. Just like last year, many expect the next cryptocurrency bull run to happen again soon. So, if you believe that there is going to be another crypto bull run, you may want to consider buying into tokens or coins of exchanges, such as Cobinhood's COB token. There are many reasons to own Cobinhood's COB token and I'll be explaining why COB is an undervalued token for a few reasons.
The past performance of a token or coin is not indicative of its future performance, however, it does give you a pretty good idea of its potential. If you check out the chart below, you will see that COB has fallen quite far below and is currently at about 2 cents. However, it was once at an all time high at 1.40 dollars per token.
There were many reasons that contributed to last year's cryptocurrency bull run. If history would repeat itself, COB is at a discount at the moment, not a loss. Aside from past performance, there are a few reasons why COB could go higher. Thus, if you believe in this token, you should take a look at what they are up to in order to decide if they are a project to invest in. At present, COB is currently holding a position of 374 in terms of its market capitalization. It does not look great but let's look at the other reasons behind why COB is undervalued and has much potential in terms of price movement.
COB has a few utility that makes it a great token to hold on to. First up, holding COB is required if you want to participate in any of their trading competitions. If you are a Ninja in reading price charts and trading, then you may want to consider trading on Cobinhood. Some of their trading competitions rewards amount to about 100,000 dollars in total rewards. Not too bad if this is your forte. Plus, trading comes free as there are zero fees when trading on Cobinhood
However, if trading competitions are not enticing enough, perhaps some candy would do? Cobinhood has something pretty awesome called the Candy Machine. Candy Machine is something akin to a lottery ticket which you get by trading on Cobinhood. Each of these tickets would allow you to take a 'spin' on the Candy Machine. This would give you a chance to win some Ethereum, Bitcoin or other cryptocurrency.
Aside from that, holding some COB would also mean that you get to receive some free money in the form of airdrops. This is done via the airdrop center on Cobinhood. In the past, airdrops were given out to those who hold COB. However, these days, much of the buzz and hype is diverted towards the Candy Machine. Speaking of buzz and hype, I personally like what Cobinhood is doing. Most of the 'missions' in the airdrop center and the concept of Candy Machine is basically a form of gamification.
Such gamification would generate much attention and buzz to Cobinhood, the exchange as well as the token, COB. This could lead to more reviews on blogs and social media. This would help anyone interested in cryptocurrency to find out more and eventually invest in the token. Also, another reason why there is potential for COB to rise upwards is because the tokens obtained via withdrawal fees will be burnt. As such, with a lower supply of tokens and the eventual increased demand, this would help increase the price of the token.
Another reason why COB will do well is due to the product that COB represents, which is Cobinhood. You've probably seen the name Cobinhood mentioned a few times above. Cobinhood is a Crypto Exchange that can be used to trade on for zero fees! Holding COB tokens allows you all the benefits mentioned above and more. I've written about the exchange a few days back.
Cobinhood is a great exchange with not only free fees but some pretty solid security. The exchange utilizes most, if not all of the safety procedures such as Two Factor Authentication and Multisignature. Having many layers of security for a Crypto Exchange ensures that all your funds are safe. In addition, Cobinhood also has plans to move from a centralized exchange to a decentralized exchange. This could potentially make trading on Cobinhood more enticing as compared to other more centralized exchanges.
In addition, Cobinhood has also gotten Hacker One to help increase the security of the platform. This is done on top of the pre-existing security measures employed by Cobinhood. This tells me that they are doing as much as they can to ensure that the platform is secure and up to standards.
I see much potential in Cobinhood as a platform and its token, COB. I think it is undervalued at this point of time due to the rather overextended crypto bear market. That being said, I do think that once we enter another bull market, the prices should pick up. There are other factors that may contribute to its current low price. This could be due to the high token supply but as seen above, Cobinhood is taking measures to ensure that the price improves.
In addition,with the measures taken by Cobinhood to improve the platform as a whole, I am sure that we will see COB's price improve eventually. If you like what you've read thus far about Cobinhood and its token, COB, do check out their social media and sites through the links attached below.
Project Website: https://cobinhood.com
Products & Services: https://cobinhood.com/ico-services
https://cobinhood.github.io/api-public/
https://cobinhood.com/margin-trading
and https://cobinhood.com/instant-listing
· Cobinhood Team: https://cobinhood.com/about
· Cobinhood Story:
· Facebook: https://www.facebook.com/cobinhood.exchange/
· Medium: https://medium.com/@Cobinhood
· Twitter: https://twitter.com/COBINHOOD
· Instagram: https://www.instagram.com/explore/tags/cobinhood/
https://medium.com/cobinhood/cob-token-upgrade-new-benefits-for-you-c0bd76aea800
Many of the findings here are researched but are based on my own opinion. I welcome any debate and discussion but I am no financial adviser. As such, always do your own due diligence before selling your kidney to invest in anything.
