Over the past week, the share price of COIN by Coinbase, a cryptocurrency exchange platform, plummeted by around 15%. The dip comes days after Coinbase announced it received a Wells notice from the Security Exchange Commission (SEC). The regulator believes the exchange may be involved in a possible “violation of investor-protection laws.” Coinbase’s announcement of a potential lawsuit has impacted its market performance. Consequently, crypto users are looking for alternative high-potential altcoins for 2023.
Amid the market gloom, DigiToads is among the cryptocurrency attracting many investors with its wide variety of features. The meme coin is built on Ethereum’s ERC-20 protocol. It also has a play-to-earn (P2E) game that allows users multiple opportunities to win rewards. Its native token is called TOAD and is currently available on presale.
Let’s dive into DigiToads’ key features to know if it’s worth the hype.
DigiToads: an introduction for crypto beginners
DigiToads may be an ideal cryptocurrency for beginners because it is both a meme coin and a play-to-earn platform. Therefore, users can look forward to benefiting from the popular meme coins and even winning rewards from its web 3.0 game.
The platform’s native token, TOAD, is a deflationary cryptocurrency, meaning its supply is burned regularly. This ensures that the token price doesn’t fluctuate much. However, what makes DigiToads a possible choice for beginners is the chance to earn residual incomes via staking NFTs, participating in P2E games, and even holding the TOAD token.
Coming to DigiToads’ play-to-earn features, there’s much to explore, even if you are interested in cryptocurrency for beginners. Players must acquire DigiToads by buying, trading, or winning them. Each DigiToad will have a unique group of characteristics in the game.
Players must ensure their DigiToads remain the strongest in the virtual swamp arena. They can use their TOAD tokens to buy food, training equipment, and potions. These facilities help increase DigiToads’ strength and abilities, giving owners leverage in the game.
At the end of the DigiToads seasons, the top 25% of the players will win TOAD tokens as a reward. To ensure that all community members are incentivized to participate, the platform allocates 50% of the proceeds from the sale of items to the prize fund. Each DigiToads season typically lasts for a month.
Another unique selling proposition (USP) of the DigiToads ecosystem is its NFT staking mechanism. The longer a crypto user stakes an NFT, the higher the rewards. Moreover, to fund its NFT staking platform, the DigiToads team has set aside 2% of the proceeds from all TOAD transactions for the staking pool. The reserve ensures that there are always ample funds to reward community members.
Incentivizing user participation
While looking for a cryptocurrency for beginners, most people look for an option that has the potential to maximize their gains. DigiToads ensures that there’s always room for your earnings to grow with its trading competition. The platform organizes monthly trading competitions, and traders with the highest volume can win Platinum Toads as a prize. Every year, there will be 12 Platinum Toads up for grabs.
Also, all Platinum Toad winners will receive 10% of their profits. This serves as an incentive to users to increase the size of the DigiToads treasury.
DigiToads’ charitable activities are another reason it’s winning the race for the best altcoins for 2023. The platform will be dedicating 2.5% of its profits to donations to charities involved in replanting trees and preserving rain forests across the world.
Cryptocurrency experts remain optimistic about DigiToads, with some believing TOAD might continue growing. DigiToads has a robust economic model that benefits its users and positively impacts the decentralized finance ecosystem. The platform also has a rewards system, growth expectations, and a staking mechanism, and it also supports charitable activities.
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