Wanchain (WAN) is a project that has one of the big names in the crypto world behind it – Jack Lu. This makes investing in this project very interesting to many crypto investors around the world.
Also, the future predictions for Wanchain look good – experts value the coin much higher than the current price value.
However, before investing in any crypto project, you should have valuable information about it. That’s why I have helped you in the following with important things you should know before investing in Wanchain(WAN). Have a good read!
Wanchain (WAN) Origin
Wanchain was founded in 2017 by Jack Lu of Wanglu Tech, a Chinese company valued at more than $500 million. The project is headquartered in Beijing, China, and Austin, Texas. Wanchain project was launched through an Initial Coin Offering (ICO).
This is similar to crowdfunding. Wanchain project team reached potential investors who want to invest in their project. Then, the investors purchased the token before it reached the big market. They raised nearly $36 million through this ICO.
Wanchain (WAN) Explained
Unfortunately, it happens more often that tokens are sent to a faulty blockchain via a faulty network and then you lose the tokens forever. With an explosive market, with more trades taking place every day, there is a need for a decentralized platform that can connect different blockchains.
Wanchain, therefore, is creating a new financial market for digital assets by implementing cross-chain transfers across different blockchains. Currently, there are so many different tokens and blockchains operating in the crypto ecosystem that there is no efficient nor decentralized way to transact between them.
As an independent blockchain, Wanchain connects the accounts of independent chains to provide a framework to enable easy transactions between these digital assets.
Wanchain’s protocol is a fork of Ethereum, not the blockchain, but the code and uses smart contracts. In addition, they also want to offer a platform where anyone can build a large number of decentralized applications (dApps). In this way, they are working hard on decentralized financial interoperability.
What is Wancoin (WAN)?
Wancoin is the native cryptocurrency of the Wanchain platform. This is based on smart contract (intelligent contracts), which has privacy protection and the ability to communicate with other blockchains. The Wancoin blockchain is based on the Ethereum blockchain and has connectivity to Bitcoin, Ethereum, and any other blockchain.
The Wanchain platform uses a proprietary cross-blockchain and ledger protocol where the different transactions that take place between blockchains and intrachain are recorded. This allows any blockchain to integrate with the Wanchain blockchain and connect to the ledger. The result of all this is to be able to carry out low-cost asset transfers between different blockchains.
How to buy Wancoin(WAN)
There are currently two different ways to buy Wancoin: through the actual purchase of cryptocurrencies or investing through a CFD.
Today, you can buy Wancoin directly, thus becoming the owner of the cryptocurrency through two different types of platforms:
- cryptocurrency exchange
- lawful broker
Currently, buying cryptocurrencies through an exchange is the most popular option but also the most expensive and riskiest. No entity regulates the operations of exchanges.
Binance is the best exchange to buy Wanchain.
Also, the commissions that apply for each transaction made on exchanges are relatively higher.
Conversely, you can also buy Wancoin from specialized, fully regulated brokers, such as eToro. With these brokers, you can buy Wancoin directly, without having to pay fixed commissions.
In addition, authorized brokers allow you to invest with CFDs, so you can choose between buying the coin or speculating on its price.
One of the best ways to buy Wancoin is through a CFD broker. However, when choosing a CFD, it’s vital to consider the following requirements:
- No commission charged for trading
- They offer a demo account to practice
- They have low spreads
- It allows you to invest automatically
- Simple investment platforms with advanced functionalities
Pros and Cons of Wanchain
- Large platform as an overarching entity for cryptocurrencies
- Strong team behind the project
- Collaborations with ICON and AION
- There is a need for the platform
- Wanchain was initially an ERC20 token but has changed it, requiring the use of the Wanchain wallet
- The run-up phase to the exchange lasted as long as the #whenchain tag was created
- The platform is only in the first phase – most of the work still has to be done and that can be regarded as a disadvantage
Wancoin (WAN) current state of the market
Currently, Wancoin(WAN) is worth $0.493313 on CoinMarketCap as of the time of writing. The daily trading volume is $9,732,090 and is ranked #395 on CMC.
Is Wanchain(WAN) a good investment?
Wanchain is a fast-growing cryptocurrency. It has a growing community and more developers working on the project. The team of Wanchain is also working on more partnerships. All of this means that more people and companies will start using Wanchain(which is ultimately very positive for the price in the long run).
Predicting Wanchain’s price expectations is difficult, just like in the stock market. Because it is largely influenced by the market. But by looking at the realized developments, new plans, new partnerships, and other important matters that affect the price, you can see where it can go.
Considering the plans of the Wanchain team, crypto experts affirm that if the team can deliver on what they indicate and want to realize, then there is a chance of a positive future price increase.
When you want to enter a Wanchain, it is always good to look at the current price, the price forecast, and the latest news to say something about the future price. Let’s consider the price forecast of some major crypto analysts:
- Trading Beast and its analysts predict a growth in the price of Wanchain towards $0.592226 before the end of 2022. Also, they predict the price to be $0.998663 about this time in 2025.
- Price Prediction and its analysts forecast that the minimum price of Wanchain in 2023 will be $0.88 and the maximum price will be $1.07.
- Wallet Investor and its analysts believe that WAN is perfect for a long-term investment. The prediction for the next five years is $2.214. However, Wallet Investor predicts that the price will be down to $0.22167 by the end of 2022.
All the above predictions are to give an idea of what the Wanchain expectation is from the experts’ view. The project looks very promising, but it is always good to follow news updates about the project so that you can make a good choice for the long term. Also, avoid risking crucial money.
Note: Crypto investment is risky.