I Sold My Bitcoin #criptocurrency #cripto
Here is why I sold my Bitcoin ► Get up to a $250 in Digital Currency: https://blockfi.com/andrei
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Credit to Foster Hilt for help with data: https://www.youtube.com/c/FosterHilt
WHY DID YOU SELL BITCOIN?
I didn’t sell all my Bitcoin, I sold 2 of them to buy something else – it’s not real estate, it’s not stocks, it’s not bonds but it is a project I believe will do extremely well in the coming months and years – OMI.
WHAT IS OMI?
OMI was the second best performing crypto in 2021 right after Axie Infinity. OMI is a cryptocurrency that underpins the economy of Veve, an app used to buy premium digital collectible NFTs from brands like Universal, Marvel, and Disney. This community is one of the most vibrant and fastest growing crypto communities I’ve ever seen.
WHAT’S SO SPECIAL?
First let me tell you the problems.
1. You can’t really buy OMI where most people buy their crypto from like Coinbase, Gemini, Voyager, FTX, BlockFi which limits its potential, its trading volume, and its market cap.
2. The money of the app itself which is something called Gems which you can think of as the “stable coin” of the app. One gem is one dollar. This is a cool idea because it’s easier to say a collectible is worth 100 gems – meaning it’s worth $100. However, the original idea was to use OMI the cryptocurrency to buy the collectibles in the app. The problem is that Apple and the App Store are not going to let people buy things with crypto and since there’s no other place where you can buy collectibles other than the app – it means OMI is not really integrated yet.
3. Once you convert your dollars to Gems, you cannot convert your Gems back to dollars – they are stuck in the app as the “in app currency” which is a huge problem for people who want to sell their collectibles for actual money. This makes people rightfully -skeptical about OMI – because what you’re really making is not “money” it’s “Gems”.
WHY WILL OMI GO UP IN VALUE?
1. On January 27, it completed the migration to ERC20 (Ethereum Blockchain) which means now it can be listed on major exchanges.
2. In the last 24 hours Dogecoin traded roughly half a billion dollars worth of value. OMI by comparison has a 24 hour trading volume of 4.3 million dollars – that’s a difference of about 100x. One of the reasons for that is because OMI is traded on only 4 exchanges instead of 365 exchanges like Dogecoin.
3. Immutable X which is the exchange that the Veve NFTs are being created on, is a partner of Coinbase – you can see it on their website it’s public – and IMX – the coin that powers Immutable X – was recently listed on Coinbase. Veve has over a million active users a month – and since Coinbase is creating its own NFT platform which doesn’t exist yet – I don’t think it’s a stretch to imagine that OMI will at least be listed on Coinbase and easily double in value.
THE COINBASE EFFECT:
When a cryptocurrency gets listed on Coinbase, that coin increases its value on average by 91% in the first five days of being listed.
4. The circulating supply or the total amount of OMI in existence will eventually start to decrease. When you have less and less of something available, the more valuable it becomes assuming there’s demand. OMI is burned at the rate of 100% of every purchase on the primary market from the reserve wallet, and 2.5% on the secondary market. As the value of collectibles goes up – even if OMI stays flat – more get burned out of the reserve wallet.
5. UTILITY PROGRAM
The Utility Program allows people to lock up or stake a certain amount of OMI in exchange for perks and benefits inside the app like the ability to increase your chances of getting a drop. The less OMI is available – the more valuable it becomes.
6. The Veverse – watch the video to find out more!
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.