XcDOT is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of XcDOT are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap 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.
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A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review XcDOT token by explaining what the coin is about, tokenomics, Roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.
What is XcDOT?
Moonbeam, the top destination for multi-chain applications on Polkadot, has now added the DOT token for use within its DeFi ecosystem — the first XCM integration on Moonbeam. As an XC-20, xcDOT is now compatible with the ERC-20 standards in active use on Moonbeam, allowing existing DOT holders to deposit their tokens on Moonbeam through the DApp and actively use them in things like decentralized exchanges, liquid staking protocols, and lending and borrowing applications for the first time. This update was made possible following the rollout of XCM on Polkadot, introducing cross-chain capabilities for the first time for all parachains.
Pros and Cons of XcDOT
Pros of XcDOT
- There is a surge in the market price currently
- Project whitepaper available
- There is a community
- Contract on Moonbeam
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – XcDOT
Cons of XcDOT
- 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 XcDOT 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, XcDOT have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is XcDOT Safe?
Being willing to invest in any token is a question entirely up to you to answer. XcDOT 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.
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