Mktcoin is a pretty simple cryptocurrency to understand. It’s a cryptocurrency that claims to allow cross border transactions using blockchain technology. In a way, it’s actually similar to Ripple or Stellar, but it’s not nearly as popular as either of those cryptocurrencies.
Anyway, this article will cover everything that you need to know about Mktcoin, which includes how it works, the price, and the future viability of the cryptocurrency.
How Mktcoin Works?
As mentioned previously, Mktcoin is not that complicated of a cryptocurrency. In fact, it’s actually quite similar to Bitcoin with some minor differences. The first difference is that Mktcoin relies on a proof of stake (PoS) model rather than a proof of work (PoW) model.
Basically, PoS means that users lock in their tokens to a node to help validate transactions. Of course, users do this because they earn a small reward for locking in their tokens.
It’s the opinion of most in the cryptocurrency industry that PoS cryptocurrencies are the way of the future. PoW cryptocurrencies simply use too much electricity and do not offer incentive for users to use the cryptocurrency.
Other than that, Mktcoin is pretty standard. It has a max theoretical supply of 10,000,000,000 coins with a block reward of 7,350 coins. There is a halving of the block reward every 2 years, which is similar to Bitcoin halving the mining reward every 4 years.
How Much Does Mktcoin Cost?
Mktcoin costs $0.0000523 per coin at the time of writing. It also has a market cap of about $60,000 and a daily trading volume of about $6,000.
Those are atrocious numbers.
The coin does not have much liquidity, volume, and is basically worthless.
It was not always this way, though. The coin was released in 2018 and quickly shot up to $0.20 in March 2018 and then cratered down to $0.05 a few weeks later.
The price dropped under $0.01 in May 2018 and has not gone above $0.01 since then.
Is Mktcoin a Dead Cryptocurrency?
Well, it’s not 100% dead because the website still exists and there is some small daily trading volume. Not to mention that we have recently seen the memecooin Dogecoin rocket up in price recently when many thought it was dead.
That said, Dogecoin operates a little differently than Mktcoin and has also received a lot of intention.
Point being, Mktcoin is essentially a dead cryptocurrency. We would not recommend investing in it. The problem with it, in our opinion, is that the market cap and trading volume are both far too low. You will likely have a difficult time selling it in the event that the price increases.
Well, that covers it for everything you need to know about Mktcoin. Really, the cryptocurrency is dead, and that’s all there is that you need to know about it.
It’s a cryptocurrency that we recommend avoiding. Could the price increase in a way similar to Dogecoin?
That’s always a possibility.
However, we wouldn’t bet money on it. The general advice is to avoid these small market cap cryptocurrencies.