Coin98 (C98 Crypto): An All-in-One DeFi Solution

With exciting features like staking, decentralization and token swaps, the cryptocurrency industry offers plenty of opportunities for traders and investors to profit. However, users are often required to toggle between ecosystems and currencies to access services, making the buying/trading of cryptocurrencies a lengthy and troublesome experience. 

As global interest in decentralized finance (DeFi) mounts, it’s now more crucial than ever for projects to focus on convenience to attract and retain users. If DeFi wants to gain mainstream traction, these solutions must also be easily accessible. With support for over 20 blockchains and their native assets, Coin98 makes it easy for users to explore different options. Let’s take a look at Coin98 and its native token C98.

What Is Coin98?

Coin98 is a one-stop solution for decentralized finance, cross-chain swaps, staking, earning and yield farming. 

The idea behind Coin98 started in early 2020, when DeFi began to reach new highs in value and attention. A surge in users’ contributed value made it an ideal time to build a new project. The crypto market required an open financial infrastructure, and Coin98 was developed to provide the answer.

What Is the C98 Token?

Native to the Coin98 network, C98 is available on the Ethereum blockchain, Binance Smart Chain (BSC) and the Solana network. The token serves many functions such as allowing holders to earn a portion of transaction fees, giving them membership discounts for products and services, and rewarding them for staking cryptocurrency.

The C98 token represents a tradable asset or utility which resides on its blockchain and allows users to leverage it for investments and other economic purposes. C98 also enables users to govern the protocol indirectly via proposals that are used to improve its ecosystem.

How Does Coin98 Work?

With an increasing amount of competition in the crypto market, building an open, decentralized network for the financial sector is no easy feat. The blockchain space makes it difficult for users to get acquainted with different concepts and solutions, and options can’t be unified without implementing innovative technologies. By default, blockchains cannot communicate with one another. This is where Coin98 comes in.

The Coin98 ecosystem consists of three main divisions: Coin98 Labs, Coin98 Ventures and Coin98 Network. In particular, Coin98 Ventures is designed to take blockchain and DeFi to the next level by finding and supporting developers who specialize in these fields. Coin98 Labs creates new DeFi solutions which make it easy for users to access markets. 

Key Features of the Coin98 Ecosystem

The Coin98 network comprises many diverse elements, with its ecosystem bringing together some of the biggest names in DeFi. Each of its three central divisions plays an important role in the continued growth and development of the project.

Coin98 Ventures is an incubator and accelerator built to empower new DeFi projects. It helps bootstrap creative projects across several blockchain platforms by investing in decentralized applications (DApps) and DeFi protocols built on Ethereum, Solana, BSC and Polkadot.

Coin98 Labs was established to “fulfill untapped demand and enhance in-demand utilities in the DeFi space.” This has been achieved by creating a diverse ecosystem of DeFi products and DApps across multiple blockchains. So far, the team has created numerous solutions including an exchange, a native wallet, multiple market solutions and a portfolio. Several other features are in the pipeline, including support for new chains on mobile, the integration of new cross-chain bridges and automated market maker options (AMMs).

Coin98 Media is the platform’s in-house crypto network. It connects various communities and industry partners. The network provides a range of media resources and learning tools to equip the blockchain community with knowledge needed to navigate the DeFi landscape. In addition, the project’s media network handles community engagement initiatives such as contests for creating content. As the project grows, other utilities can be developed by the media division to help the platform achieve high levels of interoperability.

C98 Tokenomics

Source: https://coin98insights.com/what-is-coin98-c98

Coin98 has a total supply of 1 billion tokens, a current circulating supply of 185 million and a market cap of approximately 555 million. As of this writing, the price of one Coin98 token is $3.01, with a 24-hour trading volume of over $76 million. Coin98 is down 1.50% in the last 24 hours, and the volatility of C98/BUSD is 7.89%.

Source: CoinMarketCap

Pros and Cons of Coin98 (C98)

To help you make an informed investment decision, here are some of the pros and cons of Coin98 and its native token C98.

Pros:

• Coin98 is looking to accelerate DeFi growth by making the overall blockchain experience more accessible to the public. 
• It offers a wide selection of over 20 blockchains and their native tokens.
• Using the platform, users can make transfers to multiple addresses at a time.

Cons:

• C98’s performance cannot be predicted accurately due to high volatility.
• As a relatively new project, it has yet to undergo extensive usage in the real world, so its actual effectiveness/efficiency remains to be seen.

Buying C98 Tokens

C98 tokens cannot be bought directly with fiat currency. However, you can purchase USDT tokens with fiat money and exchange them for C98 tokens.

Step One: Register for a Bybit trading account. You’ll need to fill out basic details, such as your name, phone number, email, and address of residence.

Step Two: If you don’t possess USDT, you’ll need to first buy USDT tokens via bank transfer, debit card or credit card.

Step Three: Complete your transaction at a price of your choice using a limit order. Simply enter your order price in USDT and the quantity of C98 tokens you wish to acquire. When the price reaches your specified amount, your order will be processed and the C98 tokens will be reflected in your account.

Source: Bybit Exchange

Step Four: The final step is to set up a secure wallet (preferably a hardware wallet) to safely store your C98 tokens.

Once you have your C98 tokens, you can conduct various trades on different exchanges.

Is Coin98 (C98) a Good Investment?

Coin98 is a new project aimed at improving DeFi infrastructure and interoperability. Although the C98 coin’s price isn’t stable yet, Coin98’s platform already offers investors a user-friendly wallet and rewards them with C98 for staking or including assets in liquidity pools. With the development of these features and the launch of new products in the ecosystem, the token is expected to show excellent results in the long run.

According to Wallet Investor, C98 makes a solid long-term investment — so if you’re after virtual currencies with high potential, it’s definitely an option to check out. Based on forecasts, a long-term increase in price is anticipated, with C98 expected to hit $52.56 by 2026. That’s an increase of approximately 1,600% on its current price. 

Closing Thoughts

The Coin98 ecosystem portrays itself as a hub for DeFi that unites top DEXs to create a gateway for vast cross-chain liquidity. Furthermore, the diverse range of DeFi services and tools that users can find on the Coin98 protocol should meet their lending, liquidity and borrowing needs perfectly. Overall, Coin98 provides new projects with strong backing by injecting resources necessary for acceleration into the frameworks of crypto and DeFi. Its potential makes it a platform worth watching.