$ 96,562.1
BTC
0.78 %
$ 2,717.48
ETH
4.45 %
$ 0.7784
ADA
2.57 %
$ 712.88
BNB
12.94 %
$ 195.17
SOL
0.76 %
Sanjay Shukla
Sep 3, 2022

Is Moonshot a Good Investment? Learn How to Trade on MSHOT Crypto

Moonshot cryptocurrency
Cryptocurrency is no longer an alien term. Gone are the days when crypto was considered a fraudulent Ponzi scheme promising to double your money over the night. Based on a Blockchain-supported decentralized distributed digital ledger, cryptocurrency is now used as a mainstream means of trading, investing, and buying merchandise worldwide.

The wave of cryptocurrency, which set off in 2009 with Bitcoin, does not seem to stop anytime soon. Moonshot is one of such crypto tokens that has emerged in this spate of cryptocurrencies. The crypto enthusiasts who find it difficult to start investing in Moonshot no longer be confused after reading this blog.

In this guide, we will explore:

  • What is Moonshot cryptocurrency?
  • Where can you buy Moonshot cryptocurrency?
  • How to trade on Moonshot?
  • What is Moonshot?

    what is moonshot

    Being a fully community-driven cryptocurrency,  Moonshot, as it claims on its official website, is a deflationary, self-regenerating automated liquidity offering protocol. As the term, deflationary suggests the total supply of Moonshot cryptocurrency decreases over time. Moonshot was launched with a total supply of 1 quadrillion tokens, of which over 300 billion tokens have been burned forever. MOONSHOT is the native cryptocurrency token of the protocol.

    Automatic Pay Out

    Moonshot’s holders get fixed rewards in the form of payouts and non-fungible tokens (NFTs) like animated series, gamification assets, arcade-style games for competitive playing, and a lottery for buying and holding crypto assets. It pays out rewards to those who hold Moonshot tokens through an automatic self-regenerating liquidity offering protocol. For every transaction executed on Moonshot, 4% of the transaction value is to be rewarded to the holder, and 6% additional is added to the liquidity pool on every transaction, which helps in decreasing volatility and increasing the price floor. The net worth of every individual increases with the increase in the number of transactions in the network.

    Buy-and-Hold Investment Strategy

    While traditional cryptocurrencies are based on a high-volume trading strategy, Moonshot works on a buy-and-hold investment strategy. Based on the Binance smart chain, it was developed as a fixed reward token for long-term investors. The user stays longer with Moonshot and gets more rewards. Moonshot started functioning in the first quarter of 2021 when its whitepaper was published.

    Charges

    A transaction fee of 10% is charged for buying, selling, or a transfer from wallet to wallet. From each wallet holding, Moonshot receives 40% of the transaction cost (4% of the entire transaction value), while the PancakeSwap liquidity pool receives the remaining 60 percent of the transaction charge (6 percent of the overall transaction value). PancakeSwap is a decentralized exchange (DEX) where users can exchange BEP-20 tokens.

    How Do I Buy Moonshot Cryptocurrency?

    how to buy moonshot

    Being listed on several popular cryptocurrency exchanges, Moonshot can’t be purchased directly with fiat money. In order to purchase Moonshot tokens, the first step is to buy an altcoin from a crypto exchange that supports fiat-to-crypto transactions. Now you will have to transfer that altcoin to a crypto exchange on which Moonshot works.

    You can start your investment journey with Moonshot through the below steps:

    • Create an account in a reputed fiat-to-crypto exchange and get verified your credentials.
    • Once your account is set up, select your preferred payment method and fiat currency like USD, Euros, or Pounds to add funds to your wallet.
    • After adding funds, go to the Trade section of the crypto exchange to buy any of the cryptocurrencies of your choice.
    • The next step is to open an account in a crypto exchange that supports Moonshot tokens like Trustwallet or BitMart and complete the verification process.
    • Now transfer the major cryptocurrency you bought initially to this account that supports Moonshot.
    • Start buying Moonshot using the major cryptocurrency. You can get Moonshot in the exchange of your major cryptocurrency.
    • Confirm the transaction and start trading Moonshot.
    • Tools for Trading Moonshot Crypto

      Since trading Moonshot is quite different from other cryptocurrencies, it needs special tools and techniques to make your investment grow. Use the following tools to start trading on Moonshot:

      Pick Right Crypto Exchange

      A perfect crypto exchange can make your investment grow exponentially. You need to pick the best crypto exchange to trade your Moonshot assets. A crypto exchange with a good reputation, huge trading volume, and decent user base will be suitable for your investment. Ensure that the crypto exchange you select must be available 24/7 and charge lower transaction fees.

      Secure Your Moonshot Assets With A Hardware Wallet

      Online hot wallets provided by crypto exchanges are prone to security breaches that can wipe out all your earnings and holdings. To ensure the protection of your Moonshot crypto assets you can use an offline wallet that comes in the form of a hardware device like a small chip or pen drive. A hardware wallet works as offline cold storage to store your private key to your Moonshot tokens.

      Use Encrypted Secure Internet Connection

      Since cryptocurrency works on a decentralized network, it has no central authority to be held responsible for any hack and theft. You are solely responsible to secure your crypto assets.  Trading crypto on the public internet certainly has risks of being stolen or hacked. To protect your digital assets from online hackers, you need to use an encrypted VPN connection.

      Save Tax on Crypto Capital Gains

      In many countries earnings from cryptocurrencies have been taxed by the government. It may not affect small investors, but it would be hard to keep track of capital gains for high-volume crypto traders and investors. To avoid tax evasion and potential regulatory scrutiny you may outsource a professional crypto tax expert or use an online resource like CryptoTrader.Tax to automate your crypto tax return by integrating it with your cryptocurrency transactions.

      Conclusion

      Unlike major crypto tokens, Moonshot cryptocurrency works on the principle of buy and hold and give fixed reward to its holders in the form of layouts and non-fungible tokens (NFTs) like animated series, game, lottery, etc. It cannot be bought directly on a crypto exchange using fit money. A user can purchase Moonshot in the exchange for another crypto asset on a crypto exchange that supports Moonshot. Although buying Moonshot is quite complicated in comparison to other major cryptocurrencies, you can start trading Moonshot using the above steps.

      Is Moonshot a Good Investment? Learn How to Trade on MSHOT Crypto
      Sanjay Shukla is a Content Writer with Cryptoknowmics, India's biggest media platform in crypto. He has more than 8 years of experience in the Business and Finance domains. Sanjay writes excellent content on cryptocurrencies, trading, Bitcoin, and the share market, to help the readers have deep insight into the topic.

      Top Picks