Not uncommon to come across posts telling you, just how rich you would be if, you had bought Bitcoin 10 years ago. While the statements might sound interesting, they are quite useless in guiding your current investment plans. In this report, we talk about a parameter that should be, your guiding star to evaluate various cryptocurrencies.
Coming to the key factor that, allows any investment to yield profits – ROI (Return On Investment). The information will be crucial for most investors so, give it a close look. We will talk about things closer to our time, not history! The information could help, you review various cryptocurrencies.
Presume that you had invested $5,000 in these 3 cryptocurrencies around 01 Jan 2021. The approximate prices of each of these cryptos at that time, is mentioned in parenthesis. Bitcoin ($ 30,000), Glitzkoin GTN ($0.20) and ETH ($750).
Now if you had to evaluate, how much that $5,000 investment, would yield (around 26th Oct 2021), check the information below. Prices are closely approximated to actuals. The amounts mentioned below, include the initial $5,000 investment.
Bitcoin - $10,000
ETH - $26,000+
Glitzkoin GTN - $12,500
Now since you invested an equal amount ($5,000) in each of these cryptocurrencies, it would easy to determine the money that you make.
It is a fact that going solely by ROI (Return On Investment), to review a cryptocurrency would not be wise. Other factors like project (if any) depth, trading duration, price stability etc should also feature in the review. Crypto media has grown rapidly in recent years, no secret that much of the content delivered is paid for. So do follow crypto media reports by all means but, make sure that you do not blindly rely on these reports.
The bottom line is that, the price of a cryptocurrency need not always, translate into high profits. The profit that you make by investing in cryptos, would relate to the ROI and not the price of the crypto.
GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token. The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.
The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token.
The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform. This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.
Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.