Buy EverGrow Coin | Get Reflections In BUSD | Use BUSD to buy Bitcoin | Makes Sense?

about 1 year ago

EverGrow Coin

I had written about EverGrow Coin (EGC) some time back, and in a world where tokens like Shib and Doge are making headlines, this one was not that bad. I am a bit worried about Doge because of its infinite supply, and now that daddy Elon is not pursuing its use for Twitter, there seems to be no real use case for the token. Shib, again, at least has its gaming platform Shiba Eternity and there are some random burns that take place but still no consistency in the burn. You won’t be sure if the token reaches a good price for you to make a profit.

Anyway, most of what is said above is true for EverGrow Coin too, except that, it pays reflections in BUSD. I had to check it out, and so I headed out to buy some. Like most of the tokens which share or reward with taxes, the EGC had to be in your wallet. I use Metamask, so I swapped about 40 USD worth of BNB to buy EGC. That’s how it looks in my wallet.

The purchase was over a month ago, and now the EGC sits with a modest price advantage of USD 1. 😊 But that’s not all – the BUSD. Wasn’t that what we wanted to check? Here it is:

The accumulation of BUSD is painstakingly slow. So, just about USD 0.44 over a month. So, you have to either buy more EGC or wait till the BUSD collects five dollars. Why 5 dollars? Well, most exchanges require a minimum transaction of 5 USD. So, if you want to buy BTC, you have to have at least 5 BUSD.

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But why would I buy EGC to get BTC?

Why can’t I just buy BTC?

I wondered too. But wouldn’t that be a one-time purchase? You take your 40 dollars and buy BTC, and put it in your wallet. You only have the advantage of price appreciation of BTC over here.

Now think of EGC. The BUSD reflection is continuous accumulation. So, you will keep getting your 5 or 10 or 40 dollars periodically, which you can keep using to buy BTC. Not only that, but if you are lucky, your kitty of EGC will also go up, and that should add to your holdings. Don't forget that BTC appreciation will still work for you. That sounds like a double advantage, which keeps recurring. Isn't that the case? I think it is.

Makes sense? It makes sense to me. I mean, I have already bought it. No looking back. :)

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Image Courtesy: My Metamask Hodlings.

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Disclaimer: This is not financial advice. I am sure you would have guessed by now. 😊

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