The digital asset space is a community for numerous digital products, helping creators actualize set goals. Besides cryptocurrencies, non-fungible tokens have attracted immense attention, allowing artistic and creative ideas for wealth generation. Non-fungible tokens (NFTs) consist of artworks, music files, and other digital products. A newly surfaced token that made a lot of controversies is the Taboo token. Should you consider buying the Taboo token? In this article, we’ll talk about what is Taboo crypto, how to buy Taboo tokens, and if Taboo is worth investing in.
What is Taboo Crypto?
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Taboo is an adult NFT and media platform, which claims to produce exclusive content. According to the Taboo community, the project promotes personal empowerment, allowing individuals to explore their fantasies. It also aims to choose quality over quantity in terms of media.
Taboo clarified that the project is not focused only on content creation but also hopes to accelerate profits through blockchain technology. As reported on the official website, the Taboo NFT will be cross-chain. Similarly, it plans to use a layer 2 solution for faster execution and reducing transaction costs.
The community asserts that it will bridge ERC721 and ERC1155, allowing compatibility for numerous non-fungible tokens. With that, users can sell and buy their favorite digital products across different chains. Taboo plans to target multiple blockchains, such as Fantom and Polygon.
A cross-chain protocol allows two or blockchains to communicate and work together. Without this protocol, networks cannot communicate, making it challenging for them to cooperate. Many ecosystems Integrate the protocol to eradicate problems associated with a single chain.
That said, the media project wants scarcity in the adult industry. This means that users will access content based on the number of tokens they hold. Similarly, Taboo notified that holders with many tokens would view high-quality and exclusive content from carefully screen adult performers.
How To Buy The Taboo Token
Many exchanges have listed the Taboo token. However, interested users cannot buy the asset directly with cash. An easy way to purchase Taboo is by buying through PancakeSwap and an exchange. Here are the steps you need to take for a fast Taboo token purchase.
For starters, you need to register on an exchange. Registering on a fiat-to-crypto exchange allows you to pay for cryptocurrencies with cash. With the growing number of crypto services providers, you should easily find an exchange that works for you. You might also need to provide your data and other KYC requirements. An easy exchange to use would be Binance, the largest crypto exchange by daily volume.
The next step is buying ETH with your cash. You may need to choose between using your debit/credit card or transferring from your bank to the exchange. Usually, payment methods have different transaction cost attached, making it crucial to confirm your preferred exchange’s payment policies. After choosing a payment means, fund your account and buy ETH.
The third step is transferring the newly purchased ETH to your Metamask wallet, or any wallet that supports ERC-20 tokens (Trust Wallet, WalletConnect, MathWallet, Binance Chain, TokenPocket…). Once transferred, go to Pancakeswap and connect your wallet.
Now that you connected your wallet to Pancakeswap, all you need to do is swap your ETH to TABOO!
Should You Buy Taboo Token?
According to the community, users holding the coin will access premium content by exclusive adult performers. With the growing interest in NFT projects, Taboo may be worth buying for users interested in holding non-fungible tokens. The Taboo community revealed that 4% of every transaction is added to the liquidity to reduce price fluctuations and dips. Also, it claimed there is 2% of transactions are redistributed to token holders.
Regarding burning, it assured that 1% of every transaction is burned. Generally, when communities burn assets, it creates more scarcity, leading to a higher value. So, if you want to buy Taboo, ensure you understand the fundamentals. You can also conduct your research to know if it’s worth your money.