This article will explain the characteristics and future prospects of the virtual currency Polymath (POLY). It is a currency that can be used in the Polymath project, an STO platform. Securities trading will be possible on the blockchain. I have summarized this virtual currency and will explain its characteristics.
What is the virtual currency Polymath (POLY)? About the features
Virtual currency Polymath (POLY) is a virtual currency developed in 2017. This is a project that provides a STO (Security Token Offering) platform. STO security tokens are nationally recognized currencies, and transactions are conducted under legal regulations. Therefore, it is a reliable and safe token. Funds can be raised by issuing security tokens created by Polymath. Please refer to the following for details on market capitalization and supply sales.
Used in platforms for conducting STOs
When participating in an STO, costs are incurred when requesting identity verification from the provider and purchasing security tokens, and the currency used at this time is the virtual currency Polymath. Costs are incurred when a security token issuer creates a token and a legal representative is required to conduct a review, and the virtual currency Polymath is used at this time as well. POLY is always used for costs, so it is circular.
Registered with SEC
STO (Security Token Offering) is a digital version of securities. STO security tokens are nationally recognized currencies, and transactions are conducted under legal regulations. Polymath has therefore been approved by the US Securities and Exchange Commission (SEC). It can be said that it is highly reliable.
Strict examination of platform usage
Both companies conducting STOs and participating investors are subject to strict screening. Information required when creating security tokens is required, such as name, corporate name, project overview, dividends, and percentage of tokens held. Since all checks must be passed, fraud and unauthorized transactions can be suppressed. Because of the strict screening process, fraud like that that occurred with ICOs will not occur with STOs.
Future outlook and future potential of Polymath
We will list and explain the future prospects, prospects, and plans for cryptocurrencies. In the future, it is a currency that may rise in value more than important coins such as BNB, BTC, and Ethereum. Please refer to the following for the rationale. It is recommended that virtual currency exchanges such as Binance have started handling it and the fees are low.
Recent chart movements
Monthly chart data from coinmarketcap on the web. According to research, it is said that it is a currency with strict network and security, so the volatility is not that high. Until 2020, it was on a downward trend, affected by the cooling of virtual currency trends and the corona virus, but since then it has been on the rise. It has reached an all-time high and remains a recommended virtual currency.
Source : https://coinmarketcap.com/
Doing business/partnering with companies
Polymath is affiliated with Blocktrade, seriesOne, MintHealth, and SBI Holdings. There is a possibility that demand will increase as the service develops in the future. If Polymesh Blockchain is developed in the future, it will be able to solve security issues, so its value as a security token will increase and its price may rise. This could lead to further investment. In the future, laws and regulations will be developed in countries around the world, so the value of Polymath will increase in that respect as well.
Polymesh Blockchain
Polymath, an Ethereum-based platform, has developed “Polymesh” as a dedicated blockchain platform. Programmable automated checks on confidentiality, governance, and compliance. There is no doubt that the STO market will attract more and more attention and become more prosperous.
Entering STO
STOs are conducted based on the laws and regulations of each country, so investors are also required to qualify to participate. However, there is a problem in that the hurdles to entry are high due to restrictions. As with ICOs, it can be difficult for small investors to participate. However, this also helps prevent fraud. The screening of companies seeking funding is also strict, so there are barriers to entry.
Recommended virtual currency exchanges where you can purchase POLY
Finally, I will introduce virtual currency exchanges where you can actually purchase this virtual currency. We have compiled the information for your reference. We have selected recommended exchanges that cover Bitcoin, altcoins (Ethereum (ETH), Tether, etc. (USDT), Ripple (XRP)), and where you can invest in a large number of coins. It is an exchange where you can trade using an app or a computer. Each has its advantages and disadvantages, but there is no risk and you can make a large profit by making payments. It is safe because a loss cut is adopted when the amount of loss exceeds a certain amount.
Bybit
Bybit is a cryptocurrency exchange established in Singapore. However, it later moved its base to Dubai and is a virtual currency exchange that is expanding globally. The leverage is quite high at 100 times, and the number of coins handled is over 300, so it is quite fulfilling. Overall, there are plenty of big campaigns and bonus services, which is a plus.
| Exchange | Bybit |
| Location | UAE |
| Coin | 300～ |
| Leverage | 100x |
| Commission | Maker：0.1% Taker：0.1% |
| URL | Home |
MEXC Global
MEXC Global is a virtual currency exchange established in Singapore, Asia. The main users are Japanese, but it is spread all over the world and millions of users transact every day. It handles over 1500 virtual currencies, and you can also speculate on unknown coins, so it is recommended. The maximum leverage is 200x. News also provides information on coins that are attracting attention.
| Exchange | MEXC Global |
| Location | Singapore |
| Coin | 1500～ |
| Leverage | 200x |
| Commission | Maker：0.010% Taker：0.050% |
| URL | Home |
Gate.io
Gate.io is a virtual currency exchange established in China and may have a suspicious image, but it is currently based in the Cayman Islands and is very safe. It handles the largest number of coins in the world, with over 1,700 issues, making it the most recommended exchange for those who want to speculate. We also communicate through the media when new listed coins are released.
| Exchange | Gate.io |
| Location | Cayman Island |
| Coin | 1700～ |
| Leverage | 125x |
| Commission | Maker：0.15~0.2％ Taker：0.15~0.2％ |
| URL | Home |
KuCoin
KuCoin is a virtual currency exchange established in Hong Kong, but has now moved to the Seychelles Islands. We have successfully expanded globally as a virtual currency exchange that is traded by 8 million people around the world. You can invest in over 700 virtual currencies. The operation is thorough in verifying the identity of the user, and funds can be deposited at a financial institution and international remittances can be made to the wallet.
| Exchange | KuCoin |
| Location | seychelles |
| Coin | 700～ |
| Leverage | 100x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
BitGet
BitGet is a cryptocurrency exchange established in Singapore. Currently, there are millions of users around the world, and it is popular because it has very solid security. The latest copy trading has been introduced in the industry, and it is very famous and has a large number of registered and participating users. The amount of money will increase because you imitate the buying and selling details of experienced traders, both short-term and long-term. You can increase it starting from a small amount.
| Exchange | Bitget |
| Location | Singapore |
| Coin | 700～ |
| Leverage | 125x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
Points to note when trading virtual currency
One thing to keep in mind when trading virtual currencies is that taxes are payable when profits are determined, not losses. Please be aware that if you make a similar profit on overseas virtual currency exchanges, you will be required to file a tax return in the future. Downloading transaction history is also popular and quite convenient, and the technology and functions have progressed considerably. If you are buying in cash, be sure to check as there is a possibility that the prices of the stocks you are holding have soared without you knowing. Please also check the terms of use online.
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