Gifto (GFT): Gifting Your Loved Ones Crypto

Crypto assets are increasingly popular virtual gifts valued for their versatility. Crypto may be used by the recipient for an investment, gameplay or even real-life purchases. It is also seen as an attractive option to hold crypto as recipients are not responsible for paying taxes on them since they are considered gifts. However, giving cryptocurrency gifts can be a complex and confusing process that involves many frustrating steps. Thankfully, with Gifto, users no longer need to worry about complicated processes when sending digital assets as presents.

What Is Gifto?

Gifto was specifically designed with the gift-giving purpose in mind. Created in 2017, Gifto allows its users to store, create and gift various types of blockchain assets to their friends and family members. These assets include custom-created NFTs, such as artwork, e-cards and more. Its easy-to-use interface allows anyone to quickly create personalized gifting experiences for their loved ones, friends and business partners. 

Additionally, Gifto has a staking mechanism that allows users to earn GFT tokens by contributing their tokens to the Gifto Staking Platform. Yield farming and the Gifto Store are some of the other features available on the platform. You can also trade, buy or sell crypto assets through Gifto. Gifto is intended to be a web3 ecosystem that is both self-sustaining and self-regulating, and it has the unique advantage of being functional across multiple chains. 

What Is GFT Token?

GFT is Gifto's native token. Gifto is in the process of transferring from GTO tokens to GFT tokens on the BNB Chain. The move to BNB Chain would streamline its dual-token structure of ERC-20 and BEP 2, thereby leading to lower fees and greater gifting efficiency. Users who currently hold GTO tokens can do a one-to-one swap of GTO to GFT. The token's max supply and circulating supply will remain the same at one billion tokens. To avoid the possibility of double circulation, the old GTO tokens will then be burned. 

If you hold your GTO in a centralized exchange (CEX) such as Bybit, the swap will be executed automatically. If you store your ERC-20 GTO tokens in your own wallet, you will need to complete your swap via the GTO Swap Portal on the Gifto platform. If you have BEP 2 GTO tokens instead, you will need to fill out a Google Form for the Gifto team to help you perform the swap. Keep in mind that the GTO tokens will no longer be supported after Mar 12, 2023. 

The swap from GTO to GFT comes with an additional annual inflation rate of 2% over the next four years, with 1.5% of the annual inflation being allocated to GFT staking rewards. The remaining 0.5% will be distributed to charitable causes via Binance Charity in the spirit of gifting.

The token migration also allows for the expansion of the Gifto ecosystem, starting with the creation of the GIFTO wallet, which will be the first web3 wallet on the BNB Chain. The Gifto team has planned many developments for this wallet, such as the ability to support Autofarm vaults for more yield farming opportunities, gifting through the red packet system, GFT staking, special event gifts and more. While many changes are in store for Gifto in the near future, users can continue to take advantage of the simplified creation, storage and gifting processes that the platform currently offers to its users.

Gifto Price Prediction

Gifto is priced at $0.084 with a current market cap of $84.35 million and a 24-hour trading volume of $68.61 million (as of Feb 22, 2023). While many factors impact the price movement of cryptocurrencies, many analysts believe that the price of Gifto will rise. In fact, DigitalCoinPrice projects the GFT price to reach $0.31 by the close of 2025 and hit $0.90 by 2030. However, PricePrediction believes that the Gifto price will remain largely stable in the short term, pricing at $0.088 in 2025 and only growing to $0.51 by 2030. 

Is Gifto a Good Investment?

With many analysts projecting an increase in the Gifto token value over the next several years and a solid market cap, it may be financially advantageous to invest in GFT and stake the tokens to earn more GFT. When you consider if this will be a good investment, it is important to also consider how viable the project will be in the future. Virtual gifts are increasingly popular, and this trend is expected to continue and eventually become commonplace as the world becomes increasingly digitalized.

Further, Gifto’s recent transition to the BNB chain is enabling it to make thoughtful updates that its users can benefit from. Its new web3 wallet is being developed to enhance gifting, staking, yield farming and other functions. With these developments, the GIFTO wallet will simplify and speed up the process of gifting virtual assets. Once the developments are complete, activity on the platform may increase in the years ahead, and the price of the Gifto token may rise substantially compared to its current price.

Do note that the above observations are not financial advice and you should always do your own research before deciding to invest in volatile altcoins.

How to Buy Gifto (GFT)

Gifto tokens can be purchased on popular decentralized exchanges (DEXs) like PancakeSwap and top CEXs like Bybit. On Bybit, you can trade GFT as a derivative. Derivatives involve a contract where you will be betting on the asset's future price and not on the actual asset.  

At Bybit, we have simplified derivatives trading by pairing altcoins with USDT. All the USDT Perpetual Contracts on Bybit are quoted and settled in USDT. Sign up on Bybit to trade GFT as a USDT Perpetual (GFTUSDT).

Conclusion

Gifto is changing the way people gift assets with its decentralized virtual gifting protocol. Its upcoming developments will make it easier than ever before to securely send crypto gifts to friends and family around the world at a low fee. Thanks to Gifto’s innovative approach, gifting cryptocurrency will become much simpler in the near future. Whether you're sending or receiving a gift from someone near or far away — Gifto can help make your special occasion even more memorable!

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