The rapid growth of the cryptocurrency ecosystem appears to be on an upward trajectory. This is because cryptocurrencies have grown in popularity. From Bitcoin being accepted for payments to the fortunes of other cryptocurrencies increasing, it appears that the future is crypto. However, one of the factors to this growth is the outburst of Blockchain service firms offering immense value products. These products and technologies are attractive and beneficial to the crypto user experience. One of such projects is GSR Crypto, contributing its quota to the immense popularity of cryptocurrency and its trading globally. In this article, we will be discussing the potential of the GSR crypto.
What Is GeyserCoin?
GeyserCoin is a platform that allows traders to mine with the Proof of Work and Stake mechanism. Like other cases, PoW is mainly dependent on solving mathematical calculations to get rewards. Meanwhile, proof of stake is dependent on staking several tokens to get a percentage of rewards. However, traders cannot use both mining methods simultaneously as each takes at least 14 days. During the mining stage, PoW rewards miners with 1890 coins. In the PoS stage, rewards are dependent on the staked tokens. According to the project developers, this method will ensure a reduction in inflation. It also means that everybody can be a participant in the mining phase.
GSR Trading Platform
The GSR Trading provides users with an avenue to exchange digital assets, where parties involved control its trading value. This means that the asset value on several platforms is regulated by the relationship between the buyer and seller. The platform aims to give coin owners a new exchanger and provide bespoke services tailored to their coin usage. One of the platform’s core features is that the security of cryptocurrencies or assets stored is guaranteed. Users will add funds to the platform after a full code check for vulnerabilities is passed.
The platform also utilizes top-notch technology to ensure that assets stored by users are safe from theft and hacking. The trading platform currently features lotteries and games available to the exchange founders and coin developers. Initially, the project’s currency developers can create lotteries and games on the platform with their coins. Subsequently, they’ll be seeded to a separate service to host their lotteries and games to accommodate new users.
What Is GeyserCoin Cryptocurrency (GSR)?
GeyserCoin (GSR) is a new cryptocurrency currently produced by mining, making waves amongst crypto users. The cryptocurrency uses PoW (Proof of Work) and PoS (Proof of Stake) mining methods. PoW mining is based on hardware, software, and miner activity calculations. Alternatively, PoS focuses on rewards on the number of tokens stored or staked in the system. According to the project’s whitepaper, the usage of both approaches is to minimize inflation, which poses a threat to cryptocurrencies. The maximum supply of the token is 4,500,000 GSR coins and has a circulating supply of 1,670,518 GSR coins. According to CoinMarketPlace, GSR is one of the fastest-growing coins in 2022, and it currently trades on two active markets. At writing, GSR is currently on Binance and CREX24.
How To Buy GSR
Despite its limitation across exchanges, Crypto users can purchase GSR with Bitcoin or Ethereum on Binance and CREX24. However, listed below are the steps to buy GSR on Binance;
Step 1
You will need to login into your account or sign up if you are a new user. Signing up is quite easy, as you will have to provide some basic KYC details on the Binance Website. You will need a strong password to ensure security on the platform.
Step 2
You will need to fund your account, as this will enable you to buy the token to purchase GSR. Funding your account on Binance is easy as one can do this with either a bank card, bank transfer, or P2P.
Step 3
Once you have enough Bitcoin, you will need to Deposit it in an Altcoin exchange like Yobit. You will then purchase GSR by selecting it as a pair to BTC on the platform. After purchasing GSR, it is important to store it in a secure wallet like Ledger Nano S to avoid hacks and thefts.
Is GSR A Good Coin To Buy In 2022?
The popularity of GSR is relatively low, but it is starting to gain the attention of crypto users and investors. The growth of the GSR project in the last year has positively impacted the coin, whose fortunes have also risen. According to CoinMarketCap, the coin currently trades at $0.00945692 and is up by more than 50% this week. However, by forecasting crypto analytics-WalletInvestor, GSR’s fortune solely depends on the project’s fortunes in 2022.
WalletInvestor, like many crypto analysts, believes that GSR is closer to a crash than near the $1 mark in 2022. The platform believes that if GSR continues in this same run, it may take five years to hit the $1 mark. WalletInvestor also believes the bearish run of GSR in the last months does not help its future predictions. However, if GSR Crypto hits its targets for 2022, the coin might surprise everyone and hit giant strides. Unfortunately, the metrics are not in its favor, as investors will have to commit spare funds to the token.
Conclusion
GSR Crypto has the potential to be one of the crypto space household names. Taking a look at the whiteoaoer, the asset shows promise. Its token- GSR, is currently up but still far from where crypto investors want it to be. Investing in GSR in 2022 is a high-risk activity, as the token’s future is uncertain. It is therefore advisable that traders must dig deep and make research into the token before choosing to commit funds into it.
