The volatility of cryptocurrencies is a fact universally acknowledged. The stories of people making millions during a crypto market upswing are frequently reported in the news, as are the stories of people losing everything during market downswings.

The early investors in Bitcoin and other cryptocurrencies were rewarded handsomely for taking a risk on a new and unproven technology. While many people were skeptical of investing in something that was not backed by a government or central bank, those who took a chance on Bitcoin were rewarded with life-changing returns.

As Bitcoin and other cryptocurrencies have become more mainstream, more and more people have started investing in them. This has led to a new wave of people becoming rich from cryptocurrency investing.

Rumors are fast swirling among crypto whales that a fast-rising newcomer, My Freedom Coin, may change the way crypto is valued.

How does crypto gain value?

Cryptocurrency prices can rise due to supply and demand on exchange platforms. The number of newly mined coins and the number of existing owners who wish to sell their coins determine the supply of a cryptocurrency.

A cryptocurrency’s demand is determined by a number of factors. The utility of owning the coins will drive up demand. As a result, if the crypto monetary system works well (i.e., quick transactions and low fees), smart contracts become more common, and more businesses accept crypto, demand for crypto will rise. Furthermore, cryptocurrencies are becoming more popular as a means of storing value.

Furthermore, there are a few ways for users to increase the value of their cryptocurrencies. Buying low and selling high, mining coins, increasing utility, and even media coverage can all have an impact on the value of cryptocurrency.

MFC could be a ‘game-changer’

My Freedom Coin is a newish cryptocurrency with the potential to revolutionize the cryptocurrency market. The coin is intended to be a more stable and secure currency because it is based on blockchain technology.

MFC’s ‘Zero Liquidation Risk’ innovation sets it apart from other De-Fi lending platforms that risk insolvency if open-ended contracts are under-collateralized or if a contract bug affects the treasury wallet.

Standard lending platforms sell users’ collateral when markets fall, and many users lost their entire collateral in the recent market crash. Due to MFC’s crash-proof design with the BUSD Treasury, issued Collateral Loans are safe for the borrower.

MFC’s ability to simplify a complex process attracts novice and experienced investors. Analysts believe My Freedom Coin’s crash-resistant features and growing user base will influence how cryptos are valued in the future.

MFC is free to download on iOS and Android via its website. Investors can use the code ‘CXPMGOSKJT’ to join the platform.