Spell Token Review - Is Spell Token Legit or Scam

There are many attractive tokens that have great teams behind them and are making sure there is growth and continuity for their projects. You would really want to invest in this kind of projects which guarantees each investor that there are benefits attached to their investments, and even more, you would make sure to invest early so you can enjoy more benefits along the way. The benefits of Spell Token are closely linked to the utility of such tokens which will be reviewed on this article.

Solana Coin, Cardano Coin and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.

Due to Fear Of Missing Out, a lot of investors have hurriedly delve into investing on a project they have little knowledge about. So on this article, we will review Spell Token token by explaining what the coin is about, listing the pros and cons, the supply and how legit/safe the token is for investment.

Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.

About Spell Token

What is Spell Token?

Abracadabra.money is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money – MIM), that can be used as any other traditional stablecoin.

Currently, a lot of assets, such as yVaults have locked in capital that can’t be put to further use. Abracadabra offers an opportunity to use it.

You, the Spellcaster, can provide collateral in the form of various interest bearing crypto assets such as yvYFI, yvUSDT, yvUSDC, xSUSHI and more.

With this, you can borrow magic internet money (MIM) which is a stable coin that you can swap for any other traditional stable coin.

Spell Token Supply

There are 92.27B SPELL in supply worldwide.

Pros and Cons of Spell Token

Pros of Spell Token

There is a surge in the market price currently
Project whitepaper available
Contract on Ethereum
They are fully decentralized
A lot of investors are ‘flocking’ to invest
It is listed on coinmarketcap
They have a strong community

Cons of Spell Token

The coin is still under research and development
Multiple issues with its synchronizations between ledgers
Not listed on some exchanges
No Github profile
They have no reddit account
No Bitcointalk thread created
No traceable features on tradingview

Is Spell Token Legit or Scam?

A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.

According to research and reviews, Spell Token have developed a problem solver but with a very weak back up for the token they produce.

Is Spell Token Safe?

Being willing to invest in any token is a question entirely up to you to answer. Spell Token token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.

Make personal research on the coin, visit coin’s official website.

Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Spell Token on the comment section below. Don’t forget to rate and leave a review.

Spell Token Review – Is Spell Token Legit or Scam

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