Want to jump straight to how to buy EverGrow Coin? You can buy EGC on PancakeSwap with BNB from FTX.
Probably most people who invest in cryptocurrencies maintain a reasonably diverse portfolio. Bitcoin, Ether and an assortment of other top market cap names most likely make up the bulk of their portfolios. But, many people also look for newly emerging projects that they hope one day will explode into a life-changing investment.
People frequently refer to these micro crypto projects as “shitcoins.” But regardless of how people view them or what they call them, some emerge as viable projects and reward early investors with massive gains. Evergrow is a small crypto certainly but that doesn’t mean it doesn’t have potential.
This article will take a deep dive into how to buy EverGrow coin and what it has planned in an attempt to provide helpful information. Armed with this information, you can decide for yourself if EverGrow crypto is just another heavily speculative investment or has the potential to become a valuable part of your portfolio.
What is EverGrow Coin (EGC)?
Currently, EverGrow appears to be a yield-generating crypto designed to be deflationary. This strategy has been attempted many times by similar coins but EverGrow seems like it’s at least trying to be different. Its roadmap shows that it seems to have a lot more in the works.
Launched as a Layer 2 solution on the Binance Smart Chain (BSC), EGC holders earn a proportional share of 8% of every EGC transaction, paid to them in BUSD. This is supposed to intentionally harm holders who sell the token and gives an incentive for investors to become long term holders. The reward is paid out every hour directly into investor wallets. BUSD is a Binance stablecoin that is pegged to the U.S. dollar.
Every transaction between two wallets is taxed 14% by a smart contract and distributed in the following way.
- 8% is distributed to all holders in BUSD.
- 3% is transferred to a liquidity pool on PancakeSwap.
- 2% is transferred into a smart contract for the BuyBack and Burn program.
- 1% is transferred into a pool for marketing efforts.
EverGrow has a total supply of 1 quadrillion; 50% were sent to a burn address from the initial release. The EGC transferred into the buyback-and-burn smart contract is used to purchase Binance coin (BNB). The BNB is then used to buy EGC, which is transferred to a burn address. The buyback-and-burn program burns coins daily, reducing the circulating supply, which could lead to positive price action.
According to the roadmap, this year looks to be a busy one. Below is a list of upcoming launches.
Every time you buy, sell or transfer EGC, a 14% tax is imposed. The collected taxes are distributed as shown above.
For example, a transaction of 0.1 BNB worth of EGC was purchased. At the current price, 1 BNB will buy 625,836,000 EGC, but because of the tax 534,900,000 EGC would be received. This means that after your purchase, you’ll only have about 0.86 BNB worth of EGC, and if you were to sell it immediately, you’d be left with less than 0.75 BNB, without the price of EGC moving at all. You would need to hold the EGC for a long time while other investors are making lots of transactions for you to make up your losses. It is even worse if the coin starts to drop in price.
Launching Q1 2022:
According to EverGrow’s roadmap, here’s what it has planned for 2022.
- Crator!: An EverGrow content subscription platform.
- NFT marketplace: You will be able to buy, sell and mint NFTs.
- NFT lending platform: This platform allows users to borrow and use their NFTs as collateral.
- Staking pools: EGC holders will be able to stake and earn a yield.
- Oracle-based NFT game: A play-to-earn fantasy game built on BSC where players earn login rewards, NFTs and crypto while battling other players.
- Launching Q2 2022
- EverGrow wallet: The wallet will support buying, selling and swapping crypto.
Launching Q3 2022 :
- Multiplayer online Battle Arena game: An expansion of the Oracle-based NFT game.
- EverGrow exchange: Buy, sell and swap traditional cryptocurrencies. Full, seamless tokenomics integration, allowing rewards to automatically be paid out in native and non-native currencies to holders.
The EverGrow website lists a nine-person development team. Each person publishes the link to their LinkedIn profiles. The team having profiles on LinkedIn can be very important as it can give users more data about their education, experience and work history. However, it is hard to believe that a 9 person team could deliver on all the promises laid out above.
You can also find documentation on the website to review. Two whitepapers, a smart contract and an audit report from Solidity Finance are available. EverGrow also commissioned TechRate to audit its smart contracts. The audit found no low-, medium- or high severity issues.
The Solidity Finance audit report advises thoroughly checking out the team because it has substantial control over the ecosystem. Be sure you have a reasonable amount of trust in the developers before investing.
Brief History of EverGrow Coin (EGC)
EverGrow launched in September 2021 via a presale and, within seven minutes of the launch, had reached its hard cap of 450 BNB. EGC hit an all-time high of $0.00000325 on Nov. 1, 2021.
Over the next 28 days, EGC lost over 82% of its value when it hit a low of $0.0000005721. EGC peaked again on January 4 at $0.000002241 but once again dropped almost 72%, hitting a low of $0.0000006354 on January 22. Since, then, the token has remained around the same level, sinking slowly as the crypto crash of 2022 took hold.
How to Buy EverGrow Coin (EGC)
Has what you have read so far convinced you to take the leap? If so, the steps that follow will show you exactly how to buy Evergrow coin .
Step 1: Open an online account.
EverGrow is only available on PancakeSwap and BitMart. Because BitMart does not offer its services to U.S. citizens, this example will use PancakeSwap. Because PancakeSwap is a decentralized exchange (DEX), you don’t need to open an account to use it. You just need a compatible wallet that will connect to the exchange.
However, you need crypto in your wallet to make the purchase. You could use coins like BNB or a stablecoin like BUSD. You can purchase them on Binance.US or FTX.
Step 2: Buy a wallet (optional).
The wallet you connect to PancakeSwap is considered a “hot” storage wallet because it is always connected to the internet. Therefore, it could be vulnerable to online attacks. If you want to store your crypto in the most secure way possible, use a “cold” storage wallet. A cold storage wallet is a device only connected to the internet when transferring crypto into or out of it. The ability to be isolated from the internet makes a hack less likely.
Best Hardware Wallet: Ledger (Nano S or Nano X)
The best hardware wallet for storing your EGC is the Ledger. There are two models, the Nano S and Nano X. The Nano S is less expensive but holds fewer apps, and the more expensive Nano X also has Bluetooth compatibility.
The Secure Element chip inside is part of what makes the Ledger wallets so secure. It is the same chip used in credit cards and passports. Ledger also uses its custom operating system called BOLOS, which isolates any installed apps. The operating system also requires a physical confirmation to complete any transaction.
Add the Binance smart chain app to store EGC.
Best Software Wallet: Binance Wallet
The Binance wallet would be the best software wallet to connect to PancakeSwap. The Binance wallet is a browser extension compatible with Chrome, Firefox, Brave and Edge. The wallet is compatible with Binance chain, Binance smart chain, and the Ethereum network and offers a mobile version of the wallet for IOS and Android.
Step 3: Make your purchase.
Now that you know how to buy EverGrow coin you can make your purchase. Next, connect the Binance wallet to PancakeSwap. Hover the cursor over “Trade” and click on “Exchange” in the dropdown menu. BNB should be the default coin in the upper coin selection area. If you don’t want to use BNB, change to whatever coin you want to use for the swap.
Most likely, when you search for EGC in the lower section, it won’t show up. You can add it by going to the EverGrow page on CoinMarketCap. Copy the contract address for EGC and paste it into the “Select a Token” search bar in the pop-up window. Click on “Import,” view a warning, click “I understand” and then click on “Import” again.
EGC should now appear in the lower coin selection. Enter how much of the upper coin you want to swap into EGC. Change the slippage tolerance to 17%. To do this, click on the gear icon at the top of the swap box. Under slippage tolerance, enter 17 in the right side window, then close the settings window. To complete the transaction, click on “Swap,” then click on “Confirm Swap,” and when your wallet pops up, click on confirm. You should see EGC appear in your wallet within a minute.
Not seeing EGC in your wallet?
Most likely, EGC won’t show up as a choice in the Binance wallet. You will have to import it using the same EGC contract address from CoinMarketCap. Click on the plus sign at the bottom of the wallet, click on “Custom Asset,” paste in the address and click on add asset.
Bonus: Watch to see if the EverGrow developers can deliver on their roadmap. Its failure or success should have the most significant impact on price.
Trade, Sell or Convert Your EverGrow Coin (EGC)
Because you will be using a DEX, the action of selling or converting will be the same. You can go back to PancakeSwap and connect your wallet at any time. You can then exchange your EGC for whatever coin is available in the lower selection.
When is the right time to sell or convert? Each investor has to decide for themselves.
Current Crypto Prices
The crypto market is still down heavily from the precipitous crash earlier this year. However, at least Bitcoin and Ethereum seem to be holding up well for now. Bitcoin may be forming a bear flag, and the downtrend could continue. There may be some outliers, but market sentiment is still bearish.
Is EverGrow Coin (EGC) a Good Investment?
Is it even worth learning how to buy EverGrow coin? Is EverGrow a shitcoin, or does it have potential? Looking at the roadmap, there could be a substantial upside if the developers can deliver. But that is the billion-dollar question. Can they deliver? The safest bet is to treat EverGrow as a shitcoin until it proves otherwise. Then as time passes, you can assess if the developers are delivering and if investor interest in EverGrow continues to grow. At that time, you can decide if EverGrow is worth your hard-earned capital.