Currencies named after political figures are not rare, and the TrumpCoin joins the many currencies named after past or present political leaders. The currency was launched by supporters of the current US president Donald Trump, as a fundraising method for his presidency. While the users do not have official recognition from the presidential headquarters, the very name is likely to generate plenty of discussions. The currency is aimed at introducing new features to cryptocurrency, according to promoters.
There are 6 million coins in total, of which 2 million will be used for funding the presidential campaign. The promoters are looking to increase the value of the currency since the goal is to donate 2 million tokens after converting them to US dollars. The promoters are hoping that support from users and widespread demand will help boost the value. The proposition may be attractive for many investors. Considering the discussion that current political climate generates, the coin may gain a large enough user base, be they supporters or just curious people. Investors might, therefore, be watching to see how the currency moves up, or down, in value.
The TrumpCoin offers plenty of food for thought. The elections are over, so investors might be wondering if there is any value to the currency. The promoters have eventually planned for a currency swap after the elections. The TRUMP tokens will be swapped for the TETH tokens. There will be no confusion since the goal is to ensure that the value of both tokens remains the same. This makes the TrumpCoin fit for long-term use. The TETH according to promoters, will be based on the blockchain technology, and therefore, offers many benefits. Users will be able to use the ethereum wallet to offer the TETH currency for payments. The TrumpCoin can also be staked, earning 2% annually.
There is much debate on the currency, just as there is about a current political situation. How the currency is viewed is tied to the political affiliations of the users. Those who support the incumbent president will want to show the support by investing in the currency. From a pure investment point of view, supporters may be in a wait and watch mode. The promoters hope to gain supporter’s assistance in boosting the currency value. The promised ease of transaction and the lowered transaction fee may be good enough to attract many users. That said, since the presidential campaign is over, and the new currency swap is needed, investors might be looking to see how the new currency fares.
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