Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists. The crypto world becomes more intriguing by the day, with new cryptocurrencies entering the scene faster than old ones giving up the spotlight. They are created for various purposes, and some of them are worth considering if you plan to invest your hard-earned money in crypto and diversify your portfolio.
This article discusses the best new cryptocurrencies you can invest in this summer. We bring you a guide that can help you choose virtual currencies and a list of the top 7 cryptocurrencies for July 2022. Top 7 Cryptocurrencies to Invest in This Summer
Without further ado, let’s look at the most promising digital currencies you can buy in July 2022. 1. My Freedom Coin
As the world’s only crashproof asset, My Freedom Coin (MFC) secures the first place on our list of the best new cryptocurrencies for this summer. It serves as the native currency of the decentralized financial software of the same name. The platform comes with Zero Liquidation Risk, setting it apart from the myriad of DeFi lending platforms that are subject to liquidation.
Let’s see how it works. Each MFC in circulation is backed by BUSD tokens in the protocol treasury. The BUSD Treasury generates funds from Coin Offerings and ensures that the MFC price doesn’t go below a certain point, referred to as ‘Floor Price’. You can buy and sell the Coin via peer-to-peer transactions. My Freedom Coin has some interesting DeFi mechanisms in place to sustainably appreciate the value of the Coin over time. In fact, it is the only existing cryptocurrency with a Floor Price where all the proceeds contribute to the appreciation of the Coin.
Visit My Freedom Coin
The most prominent of these is the small fee of 0.5% charged on all peer-to-peer (P2P) MFC transactions. It brings down the circulating supply of MFC and, in turn, increases its Floor Price, the absolute lowest price that the Coin can be at. Additionally, the protocol burns the income generated by license fees, exchange fees, and loan interest. This way, transactions on the platform contribute to the appreciation of the Floor Price. Its unique economics ensures that all token holders benefit equally, making My Freedom Coin a true DeFi software owned by users.
You can get My Freedom Loans from the treasury using your MFC as collateral to buy more MFC.
For example, let’s say the Floor price is $1, and you have 1000 MFC tokens. You can take out a $1000 loan from the BUSD Treasury at 0.98% interest per month. When repaying your loan, you will always receive the 1000 MFC tokens back that you used as collateral, minus the interest accrued during the term. Let’s say the Floor price has increased to $1.50 six months down the line. When you repay your interest due and receive your collateral back, it is now worth $1500 – meaning you’ve earned an additional $500, minus the interest accrued during the term.
MFC is an invite-only application. You need an invitation code to join the platform. A $50 fee is charged on using/activating the exchange for a month. The use of the app is free otherwise. While $45 is added to the Community Program for Referral Bonuses, $5 is used to create a monthly demand for MFC through BuyBack. The tokens purchased through BuyBack are taken out of circulation which increases the Floor Price. In essence, the $50 fee is completely re-invested into the project.
The protocol rewards the member who invited you to the platform every time you activate the exchange. The multi-level referral program incentivizes users to create exposure for the project. Our readers can join My Freedom Coin using the code ABXNMMXPHN or the QR code below.
What we found best about this cryptocurrency Zero Liquidation Risk
Free to download on iOS and Android
Totally Unique Economics
Collateralized Loans for BUSD
Clean & User-Friendly Interface
Visit My Freedom Coin 2. CRUX
CryptoMines Reborn, or CRUX, is a new cryptocurrency you can use to buy NFTs while playing the identically titled game. The word Reborn refers to the fact that it is the relaunched version of the original game. The original game and its token Eternal were shut down in December 2021, only to come back bigger and stronger. If you love NFT play-to-earn games and want to give CryptoMines Reborn a try, you will have to obtain CRUX to acquire the basic NFTs needed to play. 3. Bitgert
Bitgert is […]
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