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Klaytn Token (KLAY): Everything you Wanted to Know as a Beginner before Investing!

Klaytn (KLAY) is one of the top 50 most popular cryptocurrencies currently. In terms of market cap, it is currently the 45th largest digital currency (over US$3.96 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through Klaytn, how it works, and many more.

What Is Klaytn Coin (KLAY)? How does it Work?

The founder and CEO of GroundX (the company behind the Klaytn blockchain), Jaesun Han, is also the founder of Klaytn network. Klaytn public blockchain platform was launched in June 2019. Its aim is to provide an accessible user experience as well as the development environment for conveying the value of blockchain technology.

The best features of both the private blockchains (such as high scalability and low latency) and public blockchains (distributed governance and decentralized data/control) are incorporated in the Klaytn platform. This is done by using an efficient “hybrid” design. 

Whether you are an enterprise division or micro startup, Klaytn wants to make blockchain technology available to everyone. The mission of the company is to make decentralization available to every business globally by using decentralization. Many highly reputed brands from across the globe have already shown interest in the project. 

Klaytn (KLAY): Facts & Figures

All these facts and figures (as of Oct 27, 2021) will help you to make a decision on investing in Klaytn. Before making KLAY coin transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • Klaytn KLAY Price: US$1.49 (Current Price)
  • 24hour Trading Volume (24h Volume): US$118,338,308
  • All-Time High (ATH) Price: US$4.38 (reached on Apr 02, 2021)
  • All Time Low (ATL) Price: US$0.0573 (reached on May 06, 2020)
  • 24h Low: US$1.40
  • 7d Low: US$1.40
  • 30d Low: US$1.03
  • 90d Low: US$1.00
  • YTD (Year-To-Date) Return: 216.99% YTD (Year-To-Date)
  • Market Cap: US$3,799,287,097 (US$3.79 billion)
  • Crypto Rank (in terms of market cap): 45th in the crypto market
  • Fully Diluted Market Cap: US$15,927,477,769
  • Max Supply: ---
  • Total Supply: 10,706,533,878
  • Circulating Supply: 2.52 Billion KLAY

These are the facts that made Klaytn a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins and how to earn crypto easily. 

How Is the Klaytn Network Secured?

Klaytn Network is secured through the use of an Istanbul BFT version by providing userfriendly blockchain experience. It achieves the characteristics of the necessary blockchain network by implementing Practical Byzantine Fault Tolerance (PBFT) with modifications. This has been adopted by the Klaytn network after it recognized drawbacks in both the proof of work (PoW) consensus mechanism and the proof of stake (PoS) consensus mechanism. 

In addition, the proof of contribution (PoC) consensus mechanism has also been introduced by Klaytn. This consensus mechanism compensates for all Klaytn token economy’s participants that make meaningful contributions. Klaytn has achieved a versatile and decentralized environment through the combination of these consensus mechanisms. This ensures that all block validators receive adequate incentives to perform all their duties. This hybrid consensus approach also ensures that the blockchain is able to successfully accomplish the mission of becoming enterprise-ready and at the same time have a service-centric environment (enterprisegrade servicecentric platform). 

Where can you Buy KLAY Tokens?

You can buy Klaytn coins in almost all reputed cryptocurrency exchanges including:

  1. Bittrex
  2. OKEx
  3. Gate.io, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of FIL are:

  • KLAY/USDT
  • KLAY/BTC
  • KLAY/BUSD
  • KLAY/BNB
  • KLAY/KRW, and many more.

Before investing, check out historical data of token Klaytn, crypto news, Klaytn price charts, price performance, market updates, KLAY to USD (United States Dollar) exchange rate, and others.

What are the Best Crypto Wallets to Store Klaytn Tokens?

The best Klaytn wallets to store Klaytn coins are:

  1. ZenGo Wallet
  2. Cobo Wallet
  3. Electrum Wallet
  4. BRD Wallet
  5. Trust Wallet
  6. Guarda Wallet
  7. Math Wallet
  8. Exodus Wallet
  9. Trezor Wallet
  10. Ledger Wallet

Invest in Klaytn and Other Cryptocurrencies

You can buy and sell Klaytn and other virtual currencies against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and Klaytn markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other digital assets such as KLAY, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Invest in cryptocurrencies, various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

Invest in NapBots: A Dynamic Cryptocurrency Index

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NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error. 

Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets at reduced financial barriers and no human error.