How to Grow Within Crypto Sphere Without Heightened Exposure
Initial Coin Offerings (ICOs) have become a thing when it comes to the crypto sphere, as they represent a giveaway with a purpose to investors. Not only are creators retorting to such a platform to raise funds, a lot of marketing and endorsements go into such processes, which were rather rare in traditional exchanges. Many of these startup projects target a problem with a list of solutions they believe can be executed, which in most cases attracts investors.
Bitcoinist recently shared a post in which a cryptocurrency, namely, the Global Exchange Medium (GEM) managed to move its way up without such initial fundraising or endorsement stages. To date, it has supposedly been listed on a cryptocurrency exchange, LetsDoCoinz –one that currently suppose 25 currencies and pairs with over 2500 traders.
What is Global Exchange Medium (GEM)? GEM is proclaimed as a cryptocurrency that, like most existing altcoins, tries to resolve some aspect of the giant, Bitcoin [BTC]. In particular, the altcoin addresses volatility, which we’ve seen in recent weeks and even months in crypto prices. Second, it claims to tackle the payment aspect of BTC, which is far too slow at the moment. With stability being one of the main goals, Bitcoinist argues that the value is not expected to reach ridiculous heights for the moment, with a set range between $0.50 to $1.
Founder of GEM, Justin Capoccia believes that GEM has come a long way, given the fact that not many have heard of its likes. He also revealed the listing of GEM on the small cryptocurrency, however, he believes that it’s a sign of “legitimacy on all ends,” adding that “if everything matches up and they think you’re safe and secure, they’ll put you on the exchange.”
Capoccia is also known for having had interest in cryptocurrencies earlier on – adding BTC as a payment method for his other business. He supposedly created GEM on his own in the comfort of his home and to see that it is slowly making its way to the crypto sphere is definitely praiseworthy.
Upon visiting LetsDoCoinz, one will notice that a “Summer 2018 Promotion” is being advertised, in which 100 GEM tokens will be distributed to 1000 traders. It seems that it applies to new registrants, as users are encouraged to “register and receive 100 GEM and start trading now.” The exchange is also known for its lowest fees, which currently range from 0.05% to 0.1%.
By the looks of it, the GEM team’s approach might be similar to that of Bitcoin, as the giant neither had an ICO, nor did someone endorse it. However, it is important to note that back when BTC was first revealed, it was the first of its kind, hence progressively enticing new users and investors to a technology they’ve never heard of.
Do you think marketing schemes are necessary to get an altcoin’s existence across – especially given the fact that a lot of crypto projects have since flourished?