The world of cryptocurrencies is a difficult one to navigate. Knowing which coins are worth the investment is challenging, especially with an uncertain market and opinions on all sides of the fence. Newer names, like ECA coin, are taking prominence with investors over traditional cryptocurrencies like Bitcoin and Ethereum.
Is ECA worth your investment, though? That’s a tough question to answer, but learning more about the company, the coin itself, and viewing a few price predictions can help you find an educated answer to that question.
What Is ECA?
ECA, or Electra Coin, is an electronic way to facilitate peer to peer transactions. The cryptocurrency operates on a decentralized proof-of-stake system, giving users the ability to make these transactions quickly with low fees. That’s not uncommon from other cryptocurrencies, so what makes ECA unique?
Speed, security, and interest are the three main reasons individuals use ECA. Transferring traditional funds can cost both time and money, making speed essential to many. Making a payment or transferring funds with Electra takes a matter of seconds.
Security is a critical factor in the crypto world, and Electra offers this feature in the form of a NIST5 decentralized blockchain. This system protects coins from malicious attacks without comprising transaction speed. NIST5 uses five different hashing algorithms and is a premier choice amongst blockchain cryptocurrencies.
In the past NIST5 blockchain coins operated on a proof-of-work system, but Electra’s mining stage ended some time ago.
Other cryptocurrencies ended their mining days as well along with a change in the NIST5 algorithms. Owners can still take their ECA coin, though.
Staking For Interest
Electra runs on a proof-of-stake system. This allows anyone holding ECA coin to increase their investment through interest at a rate of 2.5% for 2019. That rate halves each year until reaching a 0.02% annual interest.
Finally, inflation should be considered before making a crypto investment. ECA coin has controlled inflation slowly rising to 30 billion coins for 100 years. Since there are various schools of thought surrounding inflation, how you interpret that information is up to you.
Why Buy ECA Coin?
At its current standing, ECA coin is considered an excellent long-term investment. Its current price has dipped with the rest of the cryptocurrency market, bringing it down to $0.00019552 as of the 10th of January 2019. With such a low buy-in, the chance for a high ROI is present and real.
While the possibility of making hundreds of thousands on a crypto investment leads several to invest, the company behind the coin is where savvy investors should look. So, what does Electra look like as a business?
Well, they’re currently an emerging peer-to-peer coin. Unlike Bitcoin, you can’t use ECA to purchase goods from
online retailers as of yet, but the company has a bright vision of the coin’s future. This vision stands on two main pillars: Reinvigorating the initial idea behind cryptocurrency and partnerships with investors.
A Return To Roots
Cryptocurrencies set out to change the way financial systems operate through decentralization and a reduction in
intermediaries (middlemen like banks in investments). Unfortunately, even the most successful coins hit a technological wall in achieving this goal, finding that tech wasn’t advanced enough for the mass adoption of blockchains.
Realizing this, several coins adopted classic logic and changed their missions to meet that technology gap. Electra
wants to change that by sticking with the decentralized NIST5 blockchain and pushing forward with the original idea behind cryptocurrency.
Partnering With Investors
In sticking with the initial vision of cryptocurrencies, Electra wants to give power back to the investor. The company does so through contracts that offer investors complete participation in its development. As aninvestor, you:
All of that means you have a say in everything from code innovation to marketing and business strategy. As an owner of the Electra structure, you and the rest of the community have the power to propel this cryptocurrency into the future of the world’s monetary systems.
This innovative approach makes purchasing ECA coin worth a look.
How To Buy And Sell ECA
Purchasing cryptocurrency can seem a little tricky at first. If you’re new to the realm of coins, then there are a few
things you need to know before you start investing. The first, and most important, is that most coins cannot be bought with USD. That’s right; your dollars are rarely any good on the crypto market.
So, how do you buy something without cash? The trick is to pick a coin available for purchase with USD, then trade those coins on an exchange site. You can currently buy Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) with U.S. dollars on a site like Coinbase.
Once you’ve purchased one of these coins,you can pick any crypto exchange you like to trade them in for another coin of your choice. Binance, Changelly, and Kraken are popular sites where crypto coinholders trade their investments on a daily basis. If you’re unsure about which exchange is safe to use, this article can help you find an excellent site.
Keep in mind that these are open exchanges,which means you can ask for more or less than your coin is worth that day.
If you bought $100 worth of BTC, for instance, you could potentially trade for $120 or more in ECA. That isn’t always the case, but it’s worth shooting forwhen buying and selling on an exchange.
Once you’ve traded your other coins for ECA, you can transfer them into a safe and secure digital wallet. Never leave your coins sitting on an exchange for too long. Hackers are always looking for ways to steal cryptocurrency and resell it, so move your ECA currency to a wallet as quickly as possible.
Electra is already making strides in the start of this year. On January 9th, ECA coin became available in:
Wallets for ECA coin now feature additional IP verification, the new website is launched, and an Electra debit card is in the works. This is all big news for any emerging coin, showing that Electra is keeping their heads above water at a time when all coin values are declining. Opening in new countries and pursuing actions like creating a debit card for
users show promise for the bright future Electra has planned.
Price changes in the crypto world are notoriously hard to predict with accuracy. Several coins bottom out or explode without a moment’s notice, but there are ways to make smart investments. Various graphs, expert opinions, and estimated growth within the global market are all indicators of how a coin could perform.
As it stands, ECA coin is going to increase in value with the crypto market. Organic growth and rises have aligned perfectly with those in the global market. Previous years show the same trend, which means ECA has real potential to increase in value thanks to price correlation.
Given that the price of ECA coin will rise with the market, you can then turn to Bitcoin to make an educated prediction. Bitcoin is still the largest cryptocurrency out there, having the most impact
on the market.
Experts agree that the cost of Bitcoin will rise to anywhere from $20,000 to $100,000 per coin in the coming years. While no expert agrees on a specific price point, they all agree that factors like demand, liquidity, and scarcity will soon drive up the price. With price correlation and expert predictions, it’s easier to make an educated guess about where ECA coin is headed.
ECA Future Price Prediction
The Winklevoss twins, two extremely successful entrepreneurs, suggest that the market cap will reach 5 trillion by 2020. That means a jump from the 404 billion market cap to 5 trillion or a 12.37 gain. If that prediction comes true, ECA coin will rise to $0.0024185824 from $0.00019552.
On the other hand, looking at expert price predictions for Bitcoin can give you another value. If Bitcoin can rise to $100,000 per coin from its current standing of $3,612.96, that would be an incredible gain of 2,667.81x. This would bring ECA’s price per coin to $0.5216109 or just above 52 cents each.
While all price prediction is speculation, owners of ECA coin stand to profit according to expert opinion. Purchasing 1000 ECA coins today would cost $0.19952, just under 20 cents. The first prediction would mean your ROI is roughly $2.22. The second prediction sets your ROI at $521.
That’s a large difference, but even $2 from 20 cents is impressive. The more you invest, the more you stand to earn in the future with Electra, potentially. Keep in mind that these increases in value are not set in stone, though. ECA prices could be higher or lower in the future.