The HUH Token release date is on the 6th of December. It’s a new token that is seeking to compete with the likes of Bitcoin, Ethereum, Dogecoin, and Shiba Inu. It could be challenging to understand the possibilities of a new cryptocurrency. However, studying recent releases of other cryptos may be educational and beneficial in comparison.
The cryptocurrency SafeMoon has investors’ attention. SafeMoon has more than quadrupled in price in the last month. SafeMoon is a relatively fledgling cryptocurrency founded in March 2021. However, it instantly began generating headlines upon it’s introduction with a massive run-up in April. SafeMoon was created to persuade early investors not to sell. That design had generated a dedicated set of early investors, but it has also brought the coin up to criticism from critics.
At this moment, SafeMoon looks to be an exceedingly high-risk speculative investment. Here are some positives and downsides to purchasing SafeMoon if you’re contemplating betting on this coin. With a comparison at the end of a new token with a slightly different passive income strategy, HUH Token.
BRAND
With more than 13,000 cryptocurrencies out there and new ones sprouting up on a weekly basis, the most important component of SafeMoon at this time is likely it’s branding. To stand out in the throng, top-performing cryptocurrencies have created cult-like social media followings, and their brands have spread like wildfire online due to viral memes.
Since its inception earlier this year, SafeMoon has routinely been trending on social media. Without a substantial technical edge over Bitcoin (BTC), Ethereum (ETH), or other leading cryptos, the long-term viability of SafeMoon may rest primarily on the power of its brand.
HUH Token seems to have a similar approach, with 3000 social influencers stated on their website as investors. These influencers will post about HUH Token to their masses of fans which will spread the name of HUH Token, and it’s meme potential to an incredibly large audience.
LIQUIDITY
Like other meme cryptocurrencies, one of the riskiest aspects of investing in SafeMoon is its excessive volatility and lack of liquidity.
For some investors, there is a possibility of experiencing an adrenaline rush or a gambler’s high when dealing with cryptocurrency. The possibility for the coin to plummet as violently as it has surged may be part of that pleasure.
However, the fact that SafeMoon imposes fees to discourage selling and is not traded on big crypto exchanges such as Coinbase Global Inc. (COIN) and Gemini renders the SafeMoon market significantly less liquid than other popular cryptocurrencies.
HUH Token, on the other hand, is investing a total of $1,000,000 into their liquidity pool that is going to be locked in the blockchain for two years. These pools of $500,000 will be locked in Uniswap and Pancake swap. This generates substantial stability and permeance in the brand.
INCOME
SafeMoon was intended to reward long-term investment and penalize selling. Any investor who sells is charged a 10 percent fee. Half of the charge is allocated to a liquidity pool in an attempt to promote price stability. The remaining half is allocated to SafeMoon’s current holders. In that way, SafeMoon investors get passive money every time another investor sells.
When selling pressure increases, SafeMoon investors get even more passive income as a reward for their diamond hands.
HUH Tokens is taking a slightly different approach to passive income. They have a smart contract-based referral system that is completely new to the crypto world. When you first purchase HUH Token you are supplied with a code that you can share with another person who hasn’t purchased the cryptocurrency yet. When this person then purchases HUH Token using that code, 10% of it is given to the code givers wallet in either BNB or ETH, depending on the exchange used.
UTILITY
No big retailers accept SafeMoon as a payment option, and it can be quite tough to swap it for fiat currencies or other cryptocurrencies, considering SafeMoon has not been present on a substantial number of exchanges.
SafeMoon doesn’t necessarily have any specific technical edge over other cryptos in transaction speed, security, or other aspects. They recently also introduced its own digital wallet on Apple Inc.’s (AAPL) iOS platform. The developers also have ambitious future plans, including a unique exchange, a SafeMoon app, a SafeMoon video game, and the enigmatic “Project Pheonix.” Unfortunately, unless investors acquire more specifics on these aims, SafeMoon in its present version has little or no real-world usefulness.
There isn’t a huge amount of information available for HUH Tokens’ future retail application, but there seem to be rumors of an NFT market in the works.
Without technology to help it stand out among the expanding swarm of cryptocurrencies, endorsements from high-profile internet influencers are one of the finest things SafeMoon has going for it. Barstool Sports founder Dave Portnoy disclosed a $40,000 investment in SafeMoon back in May. Unfortunately, Portnoy’s investing thesis was far from encouraging, basically saying it was a potential scam, but he liked the hype surrounding it. Social media star Jake Paul also promoted SafeMoon right after its introduction back in March. Jake Paul is not necessarily the most well-established financial advisor the world has seen.
CONCLUSION
Shiba Inu, Dogecoin, and even Bitcoin (BTC) have been accused by some of being a Ponzi scheme, but the centralized control of SafeMoon has doubters especially worried. SafeMoon’s CEO apparently holds more than 50 percent of the coin’s liquidity. SafeMoon insiders are producing a great amount of passive income. Some opponents also perceive connections between SafeMoon and Bitconnect, an infamous cryptocurrency that crashed over charges of fraud.
There’s no proof that SafeMoon is an obvious hoax, but researchers have cautioned that many popular cryptocurrencies are intended solely to enable inventors and early investors to become wealthy at the cost of subsequent customers.
HUH Token has also been accused throughout its presale success, with defamatory Reddit posts and one very persistent individual with a vendetta. However, with such a large sum of money in locked liquidity of two years, it’s unreasonable to claim this token could ever be a rug pull.
This article is not financial advice but a simple comparison of some cryptocurrencies currently in circulation. Always research your investment choices thoroughly before taking on any potential risk.
Follow HUH Token on their Socials before they Launch:
Presale: https://huh.social/presale/
Telegram: https://t.me/HUHTOKEN
Website: https://huh.social
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
