Evergrow Coin Buying Guide For Novices: Advice
A relatively new currency with a lot of potential is EverGrow. It presents a possible investment opportunity because it is still a little beneath the radar.
We’re going to show you how to purchase EverGrow coin in this article. We’ll also provide you with some details regarding the coin’s characteristics. Remain tuned!
EverGrow Coin (EGC): What is it?
EverGrow now seems to be a yield-generating cryptocurrency intended to be deflationary. Similar coins have tried this method numerous times, but EverGrow seems to be at least making an effort to stand out. It appears to have a lot more in the works, as seen by its roadmap.
EGC holders receive a proportional share of 8% of each EGC transaction, paid to them in BUSD, as part of the Layer 2 solution that was introduced on the Binance Smart Chain (BSC). This is meant to purposely hurt token owners who sell them while encouraging investors to become long-term owners. Every hour, the prize is deposited into investors’ wallets. A Binance stablecoin called BUSD is linked to the dollar.
A smart contract taxes each transaction between two wallets by 14% and distributes the proceeds as shown below.
- All holders receive an 8% payout in BUSD.
- On PancakeSwap, 3% is contributed to a liquidity pool.
- A smart contract for the BuyBack and Burn scheme receives a 2% transfer.
- 1% is added to a fund for marketing initiatives.
EverGrow has a total supply of 1 quadrillion; from the original distribution, 50% were sent to a burn address. To buy Binance coin, EGC is placed into the buyback-and-burn smart contract (BNB). The EGC is then purchased using the BNB and sent to a burn location. The buyback-and-burn scheme burns coins every day, lowering the supply that is in circulation, which can cause a rise in price.
The schedule indicates that this year will be very busy. A list of upcoming launches is shown below.
There is a 14% tax assessed on all purchases, sales, and transfers of EGC. The distribution of the tax revenue is depicted above.
For instance, 0.1 BNB worth of EGC was bought in a transaction. 1 BNB will purchase 625,836,000 EGC at the present price, however due to the tax, 534,900,000 EGC will actually be received. This indicates that you will only have about 0.86 BNB’s worth of EGC after your purchase, and if you were to sell it right away, you would only receive less than 0.75 BNB without the price of EGC changing at all. In order for you to recover your losses, you would need to hold the EGC for a very long time while other investors engage in a lot of trading. If the coin’s value begins to decline, the situation gets worse.
Purchase EverGrow Coin (EGC)
Have you been persuaded to make the jump by what you’ve read thus far? If so, the instructions that come after will exactly explain how to purchase Evergrow coin.
To start, create an online account.
Only PancakeSwap and BitMart provide EverGrow. This example will make use of PancakeSwap because BitMart does not provide its services to residents of the United States. You can use PancakeSwap without creating an account because it is a decentralized exchange (DEX). All you need to connect to the exchange is a suitable wallet.
To make the purchase, you must have cryptocurrency in your wallet, though. You might make use of a stablecoin like BUSD or coins like BNB. They are for sale on Binance. FTX or US.
Next, get a wallet (optional).
Because it is constantly logged into the internet, the wallet you connect to PancakeSwap is referred as as a “hot” storage wallet. As a result, it can be subject to online attacks. Use a “cold” storage wallet if you want to keep your cryptocurrency in the most safe manner imaginable. A cold storage wallet is a system that connects to the internet exclusively to receive or send cryptocurrency. A hack is less likely to occur if you have internet isolation capabilities.
Ledger is the top hardware wallet (Nano S or Nano X)
The Ledger is the ideal hardware wallet for keeping your EGC safe. The Nano S and Nano X are the two available models. The more expensive Nano X additionally supports Bluetooth, while the less expensive Nano S carries fewer apps.
One of the reasons the Ledger wallets are so secure is the Secure Element chip inside. The chip is the same one found in both passports and credit cards. Ledger also employs its unique operating system, known as BOLOS, which compartmentalizes any installed applications. Additionally, the operating system needs a physical confirmation before it would accept any transaction.
To store EGC, include the Binance smart chain software.
Binance Wallet is the best software wallet
The ideal software wallet to connect to PancakeSwap would be the Binance wallet. A browser extension for Chrome, Firefox, Brave, and Edge is the Binance wallet. The wallet has a mobile app for iOS and Android and is interoperable with the Ethereum network, the Binance Chain, and the Binance Smart Chain.
Make your purchase
You can purchase EverGrow coin now that you are aware of how to do so. Next, link PancakeSwap and the Binance wallet. With the mouse over “Trade,” select “Exchange” from the drop-down menu. The default coin in the upper coin selection field ought to be BNB. Change to the coin you wish to use for the swap if you don’t want to use BNB.
Most likely, EGC won’t come up when you search for it in the lower part. Visit the EverGrow page on CoinMarketCap to add it. Copy the contract address for EGC and paste it into the pop-up window’s “Select a Token” search bar. After viewing a warning and selecting “I understand,” click “Import” once more.
The lowest coin selection should now include EGC. Enter the amount of upper coin you wish to exchange for EGC. Tolerance for slippage is now 17%. Click on the gear icon at the top of the swap box to get started. Enter 17 in the right-side pane under “slippage tolerance” before closing the settings window. Click “Swap,” then “Confirm Swap,” and when your wallet appears, click “Confirm” to finish the transaction. Within a minute, EGC should appear in your wallet.
In conclusion, you can purchase EverGrow cryptocurrency by exchanging your BNBs or BUSDs for EGCs. You must link your wallet to PancakeSwap in order to do that.
You should be aware, though, that EverGrow is regarded as a volatile token. Therefore, if you’re considering investing in it, be sure to do your homework first.