A Guide to $Magic Tokens: What They Are and How to Buy Them
David Akiloon April 30, 2022.
What Is Magic Trading?
Magic trading is a crypto investment platform that allows users to indirectly invest in upcoming startups simply by holding the platform's native token, MTK. Digital assets go beyond just cryptocurrencies; there are tokenized stocks, bonds, and other securities. MTK tokens give its holders a chance to be part of these additional digital asset classes.
The MTK tokens allow holders to trade several different assets on various exchanges. The project prioritizes security and transparency with a growing community of investors looking to capitalize on Magic Trading's model of asset digitization.
What Are MTK Tokens?
The MTK token is a non-scalable TRC-20 token with deflationary properties as it is limited to only 49,500,000 mintable tokens. The token developers selected the TRON blockchain because of its compatibility with Ethereum and the absence of ridiculous trading fees.
MTK tokens double up as security tokens, allowing holders to invest in startups and access dividend bonuses, offering a new way for investors to diversify their portfolios.
The MTK token is a hybrid of traditional stock, and it is tied to the Magic Trading company's market capitalization. This feature means that its value will increase as investors trust the platform and more funds flow into the Magic Trading ecosystem.
How to Buy MTK Tokens
Interested investors can purchase MTK tokens with fiat (US Dollar) by following the steps below:
- Sign up for a crypto exchange or financial service that supports crypto, e.g., Crypto.com or eToro
- Send some fiat - USD (US Dollar) into your wallet.
- Use the USD to purchase some Bitcoin, Ethereum, or USDT equivalent to the amount of MTK tokens you intend to purchase.
- Send the crypto you bought to an exchange that has listed MTK tokens, e.g., Exrates.
- Find the correct MTK token trading pair for the crypto you purchased. For instance, MTK/ETH if you purchased Ethereum.
- Use your ETH to purchase MTK tokens on the exchange's marketplace.
- Now you have MTK tokens in your wallet.
Why Should You Buy MTK Tokens?
MTK tokens come with a range of attractive benefits for their holders, making them a viable investment vehicle for interested ecosystem participants.
Advantages of Buying MTK Tokens
- Passive Investment MTK tokens offer their holder passive investment strategy options just by holding the tokens. They allow holders to become part of a platform that invests in startups while earning dividends.
- Consistent Earnings The Magic Trading platforms claim to provide constant earnings for holders even in times of crisis like inflation or other global financial crisis.
- Security Magic Trading platform emphasizes security as one of its core priorities, ensuring its users' funds are safe and protected.
- Portfolio Diversification Holding MTK tokens provide an easy means to diversify an investor's portfolio due to their investment structure and the dividends they offer their holders.
Disadvantages of buying MTK Tokens
- Lack of mainstream credibility The Magic Trading Token platform is still fairly new; they are not fully established in this crypto space. The lack of mainstream credibility may be a cause for concern for interested investors.
- Bottlenecks Security-based tokens like MTK have the same constraints as the blockchains they are built on top of and thus, may suffer from the said blockchain's limitations. No matter how well-designed they are, they are still prone to challenges like bottlenecks.
- Price Volatility Like any other crypto, MTK tokens are subject to price volatility. They are not stable assets, and their price can be affected by market sentiment or general negative news in the crypto space. Investors are advised to treat MTK tokens in a similar vein to any other volatile crypto asset in their portfolio to see good returns.
- Lack of availability MTK tokens are not easy to trade because they are only available for trading on a limited amount of exchanges. This lack of trading options for the tokens may turn off interested investors.