Trump Coin Price
Donald Trump seems to be into everything these days, so it’s no surprise that he now has a foot in cryptocurrency, too. Only days before his second inauguration as President of the United States, he and his wife Melania debuted their own cryptocurrencies - the $Trump and $Melania coins, which are also being called “memecoins” due to their iconography.
What Merchants Accept $Trump Coin?
For the most part, the purchasing power of the $Trump Coin is reserved for Trump-themed memorabilia. Three Trump-branded websites that sell sneakers, perfumes, and watches depicting the President accept the cryptocurrency as a means of payment. They are, respectively, GetTrumpSneakers.com, GetTrumpFragances.com, and GetTrumpWatches.com.
In addition, one travel website, Travala.com, has added $Trump Coin to its large list of acceptable cryptocurrencies. However, the primary value of buying a $Trump Coin, at this point, is to demonstrate further one’s allegiance to the 47th President.
Can I Trade $Trump Coin as an Investment?
Yes. There is a trading market for $Trump Coin. You can buy and sell cryptocurrency through several websites dedicated to the crypto market.
Does it Help to Track $Trump Coin on a Chart?
Yes and no. We are certainly keeping an eye on the daily, hourly, and minute-by-minute changes that $Trump Coin undergoes due to trading activity. You can get a sense of which direction the cryptocurrency is moving and, potentially, approach a decision point.
However, the problem with looking at $Trump Coin on a chart is its newness. Because the memecoin has only been trading for a few weeks, we don’t really have a sense of the typical ranges or movement of it.
To put it another way, the sample size for $Trump Coin charts is not enough to make your entire decision on it. The primary value of $Trump Coin, for the time being, is its visceral connection between its traders and its subject.
What Do Investors Like About Cryptocurrencies?
Cryptocurrencies are appealing to a subset of investors who are seeking, in a word, flexibility. One of the biggest sources of irritation for some currency investors is the inescapable link to banks and, by extension, the central bank of a sovereign government.
Instead, cryptos exist outside of the rules and regulations of regular currencies and commodities. As such, they allow for peer-to-peer transactions between parties that are much more private than traditional currencies would permit.
Ironically, the other major benefit to investing in crypto is also one of its biggest drawbacks. The volatility of cryptocurrencies is much greater than any “normal” investment, and risk-tolerant investors who time their movements properly can make scads of money in a very short period of time. However, it cuts both ways, and cryptocurrencies are also prone to nosedives in value, resulting in tremendous losses.
The bottom line is that cryptocurrencies, be they $Trump or one of the better-known cryptos like Bitcoin and Ethereum, aren’t for everyone. However, they are certainly a new chapter in the way that humans use money and trade, and it can be exciting to be a part of that trend.