In the last year, it’s estimated that 13% of Americans bought or traded cryptocurrency. Crypto is quickly becoming popular, thanks to the huge success of Bitcoin.
But did you know there are many other cryptocurrencies you can invest in? After all, you shouldn’t put all your eggs in one basket.
One cryptocurrency that’s gaining interest is Marscoin.
So what is it and why does it matter? Read on to find out!
What Is Marscoin?
As you already know, Marscoin is a type of cryptocurrency. It’s actually derived from Litecoin back in 2014. And Litecoin’s derived from a fork of Bitcoin, so by default, Marscoin is a derivation of Bitcoin.
Like with Bitcoin, there’s a finite amount of Marscoin. In May 2021, almost 36 million Marscoin were mined. And it’s projected that in 2024, the last Marscoin will be mined, bringing the grand total to 48 million.
As of late October 2021, 1 Marscoin is worth just $0.03381. This makes it a very easy and cheap cryptocurrency to buy into, so if you’ve been wanting to buy Bitcoin but found it too expensive, then this is a great alternative!
Why Is Marscoin Important?
With other cryptocurrencies, you’re buying them just to trade for monetary value. Usually, that’s it, and there are no causes attached.
Well, with Marscoin, the hint is in the name. The money that goes into Marscoin will be used to fund the first Martian settlement.
Not only that, but the money will also fund other science-related projects. In fact, a fair amount’s already been donated to The Mars Society and Mars One!
Marscoin was developed specifically for daily life on Mars because of Bitcoin’s shortcomings. For instance, there’s a confirmation delay of 10 minutes per block, which won’t suffice for the first colony on Mars.
What Else You Need to Know
At some point, Marscoin will leave Earth, as it’s intended for use on Mars’s first colony.
However, you don’t need to be worried if you’ve invested and aren’t planning on leaving Earth. Marscoin will save all existing addresses and values stored, so you can keep watching your investment grow, even when people have colonized Mars.
If you don’t want your crypto to go to Mars, then you can always transfer your Marscoin at any time. You can then use that money and invest it in other cryptocurrencies if you wish. Otherwise, you can just convert it to fiat currency (cash).
For more information, check out this guide to Marscoin.
Invest in This Crypto
If you’re looking to invest in a cryptocurrency that has a purpose and real value, then Marscoin can be a great choice for you. Any money you spend on this crypto will help colonization on Mars and many other space-related endeavors.
So if you want to kill 2 birds with 1 stone, start trading this cryptocurrency. Not only can you contribute to a worthy cause, but you just might make some money as well!
For more on finance, browse our other blog posts now.