With the extremely high price of Bitcoin, Ethereum, etc, many people are looking to altcoins as potential way to make massive returns on investment. Today I will be writing about concoin and my thoughts on the coin.
Concoin is a coin that can only be traded through relatively small exchanges, such as Yobit for example. While Concoin is ranked sub 600 on coinmarketcap and is trading at a very low volume, it may not be worth trading just yet but is definitely worth keeping an eye on.
Potentially the future of money for inmates. Concoin is a decentralized currency that will essentially be a viable replacement for cash in prisons for inmates. Instead of using fiat currencies, inmates will be able to use cryptocurrency which will leave a trail on the blockchain that can be followed by prison officials, etc. What makes Concoin special though in my opinion is that not only are they the only coin that I am aware of trying to capture this specific function, but they are also applying to be the only cryptocurrency that will be allowed in prisons. Having exclusive rights to be the only prison cryptocurrency would essentially eliminate all of their competition. Lastly, the icing on the cake is that Concoin has a low current circulating supply, and only plans to have about 6,851,000 in circulation after the last of it is mined.
While I am not a financial consultant or advisor and I am not giving a buy or sell recommendation, I still think that this coin is at least worth keeping a close eye on as updates are released.