xGalaxy: Binary Options On The Blockchain
In 2017, we experienced an exponential boom in the price of cryptocurrencies across the board. This price activity created new millionaires at a rapid rate, and attracted everyday people to cryptocurrency en masse. Yes, cryptocurrency and blockchain technology have created some great products, developments, and other incredibly impressive accomplishments. However, the market as a whole became overvalued. During the inevitable prolonged correction that has followed, we’ve all been given some time to reflect on what happened. Those who are smart and still value a future in cryptocurrency will take those lessons and apply them to their next move. That is what xGalaxy has done. Today, I’m going to be talking about the xGalaxy project, what they are trying to do, and how the lessons that they learned from a crypto bull and subsequent bear market can pave the way for outstanding success as a blockchain-oriented project.
The Beginning: A Fair Launch
While xGalaxy is not the only project that is using the current market conditions to build infrastructure for the next market cycle, it is one of the only ones who has successfully conducted a fair launch with a very low premine and no presale. ICOs have become the poster children of bloated presales, excessive spending, and unnecessarily large teams. They burn through investors’ money quickly and inefficiently, creating a dangerous environment for any ICO investor. In contrast, xGalaxy launched their coin with virtually no premine(0.005% or 2,900 coins to be specific), no presale funds, and a lean, qualified development team. If you have a project with utility and market demand, that’s all you really need. The cryptocurrency community can be shallow, impatient, and at times loses track of what this entire experiment is meant to be — but they always find a way to locate and appreciate a project that has delivered something of value. So far, xGalaxy has gained that status. They’ve managed to achieve a significant market cap without participating in airdrops, bounties, or other shady behavior usually engaged in by projects with no utility or use-case.
The Product: Meeting a Need
In 2017, we saw classmates, friends, family, coworkers, and more people in our everyday lives asking about or purchasing cryptocurrency. It was clear that anyone who heard about crypto wanted to make money by buying and selling it. Everyone wanted to be a day-trader. Binance and Bittrex both closed registrations as thousands of new users tried to enter the market. We as a community weren’t prepared to meet that market demand. We weren’t the only ones caught unprepared, though. The new users themselves were not experienced traders. They invested more than they could afford to lose in a market that was euphoric at the time, but has become increasingly difficult to trade ever since. Basic trading principles and risk management went ignored and people found it difficult to understand and use exchanges like Binance. Purchasing a coin seems easy to those of us who do this every day, but for someone who doesn’t know the difference between a market and limit order, this can be really complicated and honestly, dangerous for them.
Three things have become clear from observing the behavior of new investors in the past year:
- There is an overwhelming interest in generating income by trading assets.
- Users will benefit from a simple platform that utilizes simple trading concepts and vocabulary.
- Coins of the trading platforms that achieve success are some of the most solid investments in the entire market.
This is where I think xGalaxy really offers incredible value to the market. They have developed a decentralized trading platform for binary options on cryptocurrency assets. Binary options are a simplified form of trading in which the user picks a direction for the price action of an asset within a designated window of time. If the trader is correct, the trade is profitable. If not, the trader loses the trade. This really simple trading process attracts a wide range of customers and is really appealing to all traders.
XGCS: The Coin To Fuel It All
XGCS, the official currency of the trading platform, stands to hold incredible value if the exchange becomes even mildly successful. The team has taken great steps to ensure that XGCS retains value and remains an intriguing investment opportunity. The masternode rewards structure and adaptive masternode collateral helps to eliminate inflation problems that masternode and staking coins often encounter, and the team has done a brilliant job of keeping the circulating supply low by refusing to give out massive amounts of free coins as lesser projects usually are forced to do in order to gain exposure. The current price of XGCS definitely reflects that effort. It is already listed on Escodex and is holding value very well for a new coin.
More Coin Specifications
Coin ticker : XGCS
Algorithm : x16r
Difficulty : Dark Gravity Wave (DGW)
Block Time : 1 minute
Coin Supply : 50,000,000
Type : POW / Masternode
Exchange tokens have proven to be an excellent store of value, source of income, and at times they experience drastic price increases because of their reputation. All in all, XGCS and xGalaxy are well-positioned to capitalize on a resurgence of the crypto markets and another influx of new investors.
Important Links for xGalaxy
Trade on Escodex: https://www.escodex.com/