Genesis Vision is another exciting blockchain project that brings the world of traditional, centralized finance to cryptocurrency. This article will explain the Genesis Vision project, the cryptocurrency that operates on the project, and provide some insight on the future of the project.
What is Genesis Vision?
The basic premise of Genesis Vision is that it’s a platform that allows investors to pick and choose their own managed cryptocurrency without doing all the difficult work. This is similar to a hedge fund or using a financial advisor, but it’s much more transparent with much lower fees than a traditional hedge fund.
It also focuses on cryptocurrency rather than traditional stocks or commodities. But forex, commodities, precious metals, and even stocks are all available to trade – those just aren’t the main focus of the project at the moment.
How Genesis Vision Works
Geneis Vision has three main features of it. This section will explain those three features and how they operate.
The basic idea of a Program is that a user creates a program that follows their normal trades on the platform. The difference is that investors can choose to invest in the Program if the trader is successful. In that case, the trader then makes trades using their funds combined with investor funds.
All profits and losses are distributed equally based on the percent one invests into the Program.
Of course, the trader that sets up the Program can choose the management fee they collect, the success fee (fee collected only on a profit), and the duration of the investment. The fees are typically much lower than those found in traditional, centralized finance.
It’s also important to note that anyone can create their own Program, which means that effectively anyone can become a hedgefund manager. This might sound risky, but the platform has safeguards in place to ensure that people will not run off with the money (ie. it’s stored in a smart contract).
A Fund on Genesis Vision is similar to a Program, but the difference is that a Fund purchases and holds a certain amount of assets. The Fund then sells the assets at a certain, predetermined price.
Investors then receive a profit (or loss) based on the sale price of the asset within the fund. Entry and exit commissions are also deducted at their respective times.
Again, anyone can easily create a Fund on Genesis Vision, which is a decentralized feature that we really like.
Finally, Follow is the social aspect of Genesis Vision. This feature allows a user to follow a trader while keeping their currency in their own wallet. In other words, they have total control of their currency and can exit a trade at any time they like.
The best part of Follow?
This feature is 100% automated.
Now, there are fees collected with this subscription. A trader that starts their own Follow can choose to have fees based on successful trades or fees based on volume – it’s up to you to decide which type of fee you want to charge (as a trader) or which fee you are comfortable using (as a follower).
Why Users Should Use Genesis Vision
The main benefit of Genesis Vision is that it’s a decentralized platform. This means that users have full transparency with their fund managers or traders they choose to follow, which puts it at a huge advantage over the more traditional investment options.
It’s also compatible with cryptocurrency for those interested in actively trading cryptocurrency.
Finally, if you are a good cryptocurrency trader, then it is possible to earn some extra income by setting up a Follow account and collecting fees from users that follow your trades.
Genesis Vision Token (GVT) – Price, Market Cap, and More
This section will cover all the relevant information about Genesis Vision Token (GVT). This includes the price, market cap, use, and more. We will even offer a prediction about the future of the cryptocurrency and project in general.
What is Genesis Vision Token (GVT) Used For?
GVT is the native token of the Genesis Vision platform. This means that users of the token receive various discounts on fees when they use the token on the platform.
In this sense, GVT is a utility token for the Genesis Vision platform. The success of the platform will theoretically result in the success of the token.
GVT currently costs about $14 per token at the time of writing. This is a far way away from the all-time high of nearly $40 in early 2018, but that was the height of the ICO bubble. So a price difference between the all-time high and current price is to be expected.
More interestingly, the price has risen from about $1 at the start of 2021 to the current price of $14 in mid-May.
That is a nice price increase.
GVT Market Cap
The market cap of GVT is somewhat low at $64 million. This market cap makes it the 526th most popular cryptocurrency by market cap.
We know, that’s not good, but GVT is a very specific project, so it will likely never see the massive market cap that more general projects like Bitcoin, Ethereum, and Tether see.
Best Exchanges To Purchase GVT
GVT is available on many different centralized exchanges, but the only one we recommend trading it on is Binance. Why?
The trading volume of GVT on Binance is over $5 million per day while the other exchanges do not even break 6 figures.
It’s also important to note that GVT is an ERC-20 token, which means it should be available on most decentralized exchanges like Uniswap or SushiSwap.
Where to Store GVT
GVT is an ERC-20 token, so it can easily be stored on any Ethereum wallet.
GVT has seen a 1400% rise just this year, but it’s still about 150% away from the all-time high. This is actually good because it gives the cryptocurrency some room to see a big increase in price.
To further sweeten things, the Genesis Vision is gaining popularity as part of the increasing popularity of decentralized finance (DeFi).
This is a project that we expect to grow as DeFi grows in popularity. And that’s a good thing for the popularity of the coin.
That’s about it for a brief overview of Genesis Vision and it’s utility token Genesis Vision Token. This is a project that is currently experiencing a slow amount of growth – a good sign in an industry that tends to start slow before experiencing hockey stick growth.
Basically, the success of this project hinges on the success of DeFi. If DeFi is successful, then this project will likely see success. The same can be said about the price of GVT.