Why 2021 is the best time to invest in ICON (ICX)?
Is ICON a good investment?
The ICON network is powered by a high-performance blockchain engine dubbed “Loopchain,” which was built and upgraded by ICONLOOP, the industry’s premier blockchain. ICON’s recent consensus algorithm and interoperability protocol, Blockchain Transmission Protocol, have made numerous industry breakthroughs.
ICON is a blockchain of blockchains, allowing communities such as hospitals, universities, and banks to create their blockchains. Each ICON blockchain runs independently of the others while remaining connected to the ICON global blockchain system. Some nodes on the network serve as intermediaries between several blockchains.
What is an ICX coin? Brief Summary
ICX Coin is a cryptocurrency that is fundamental to the ICON network. It’s like Ether for the Ethereum network, as several of the functions on the ICON cryptocurrency network must be paid for using the ICX currency.
The ICON network has been in progress for two years. The Daily Financial Group created it. The Daily Financial Group is a Korean company that practices financial discovery and technology. If you have ever practiced the exchange Coinone, you might recognize the organization’s name. They own the Korean platform that enables users to buy and sell numerous cryptocurrencies.
ICX’s global, digital cash. It’s the ICON applications currency. It can be used to send or receive blockchain payments and pays for ICON transactions. ICON boasts one of the highest blockchain staking rewards at present.
Staying with ICX means locking the ICX in your wallet in exchange for daily ICX awards for a certain period. To receive these rewards, the ICX staked must be delegated to a Public Representative (P-Rep).
How did ICON Start?
ICON is a highly sophisticated platform that aids in facilitating interactions of the communities or independent blockchains. It was launched in the market in 2017 by a South Korea-based organization called the ICON Foundation. A well-connected network of nodes following only one system of governance is known as the ICON Community.
ICX coins are the chief constituents that lead to the formation of the ICON Network. The ICON helps the blockchain software programs to connect by providing the primary platform. The Korean company, the Daily Financial Group, created the ICX coins while keeping in mind to hyper-connect the world by the inception of the ICON network.
This ICON network will let the investors communicate between various blockchains. This network has been termed as ‘ICON Republic.’ Connection to the smaller blockchains, termed as ICON Community, leads to a strong network formation. Each community functions independently from the other. So, ICON doesn’t have much control in its mode of operation. By using Citizen Node, a connection to the ICON Network can be made quickly. This node further lets you carry out interactions with a diverse ICX. Utilize the decentralized exchange of the ICON to buy or sell various currencies of the network.
How does ICON Coin work?
The blockchain of the ICON Republic is called the “nexus.” The technology that enables the nexus is a loop chain algorithm. The loop chain connects the ICON Republic communities.
When grouped, these communities are called a consortium, establish a standard set of rules to allow the various blockchains to work effectively together. The Blockchain Transmission Protocol is a set of rules for how independent blockchains interact with the blockchain of the ICON Republic — the Nexus (BTP).
Best time to invest in ICON?
As reported in the news, ICON’s partnership with LINE, a Japanese Messaging App, and Samsung, the technology giant, has led the experts in this field to believe that such a praiseworthy development will lead to a greater demand for ICON.
It is ambiguous to tell if the popularity of ICON will have a tremendous positive impact on the ICX coins. However, such growth in ICON’s demand will inevitably pique investor’s interest in ICX coins. As has already been mentioned, the very absence of expert opinion in this realm has made things difficult, especially when it comes to price prediction.
Use technical analysis to determine the price if you intend to go for a short-term investment. For long-term investment, fundamental analysis is the ideal option. According to TradingBeasts, yet another website, the price of ICON tokens will grow steadily throughout 2021. ICON’s Roadmap about its involvement in Securities, Banks, Insurance, Hospitals, and Universities implies a good increment in its price in the coming years.
Start Investing in ICON
To start investing in ICON and other cryptocurrencies, you must first create an account with a cryptocurrency exchange that allows you to buy ICON in India, sell, trade, and store. A cryptocurrency exchange broker is a website that allows you to trade ICON in India and other cryptocurrencies. If you want to buy ICON in India and get the best ICON price in India quickly and effortlessly BuyUcoin Exchange! is one for you. You can even invest in ICON using your MasterCard, Credit Card, UPI, or NEFT.
Is ICON a good investment in 2021?
Icon Cryptocurrency or ICX is a network in cryptocurrency and was first known to the public only in 2017. Unlike Ethereum or Bitcoins, there is a massive shortage of financial experts who can predict the future price of ICX coins. Technical analysis will always be one way to determine the future price of any form of cryptocurrency.
If you are into trading, this method of analysis is going to help you a lot. However, if you are an investor, I fear this mode may not be entirely apt in asserting the future value of the ICX. Anyways, there is nothing to worry for this article will be discussing, to a great degree of precision, the fate of ICX in the upcoming years.
This Blockchain combines all the different smaller blockchains that form the Republic itself. These tinier blockchains are known as the ICON Community. Each of these distinct blockchains will have its regulations. ICON itself cannot control how each community operates.
Frequent users can join the ICON network using what is called a Citizen Node. These nodes can then be used to communicate with the several decentralized applications of the ICON ecosystem. The unusual currencies of the network will be traded using the ICON’s own decentralized exchange.
It can work well with blockchains such as Bitcoin, Ethereum, and others. ICON is compatible with third-party blockchains that are connected to the rest of the world.
This way, ICON helps connect the real world to the crypto world, creating new opportunities for businesses. ICON has increased the usability of Blockchain. The goal of ICON is to be highly usable and make blockchain technology functional in daily lives. The team has created real-world applications that businesses and communities can use. It features DaVinci, an artificial intelligence solution many financial institutions need to use.
Why invest in ICON?
ICON is a technology blockchain and network framework designed to interact with independent blockchains. Communities through a decentralized exchange are connected to the ICON network. The challenge of ICON is to oppose traditional centralized cryptocurrency exchanges potentially.
Banks and other financial organizations want to use a cryptocurrency that has a quick consensus mechanism. Other than ICON, there is no other cryptocurrency. Organizations are also looking for a way of staying connected with other organizations across the entire world.
ICON is the only option as it is geared towards affiliated organizations running different blockchains across the world. ICON has all the features that organizations have wanted to have. This will lead to increased adoption of cryptocurrency.
Increased adoption of this cryptocurrency will increase its value, and you may benefit a lot from this. If ICON implements all the features that have been proposed, it will overtake Bitcoin and Ethereum. You don’t have to wait. Buy ICON today, and you will reap from its expected increased adoption by organizations.
- Wallets: For staking and delegation of these wallets, ICX can be safely stored.
- Dapps: ICX may be used for network interactions with Dapps. ICON has a growing application ecosystem.
- Governance: In ICON governance: staking and delegation, ICX can be utilized.
Worth buying ICON in India?
Since there is no such legitimate source to know about the future of ICX, let’s eke out means by considering what the websites of CoinLiker and WalletInvestor have to say in this regard. According to the analysis result of CoinLiker, the future price of ICX will be manifold. If you invest $200, you will get a heavy return of $2,700 after a year.
On the other hand, WalletInvestor has a bit different thing to say. As per their analysis, the price will remain stagnant at $0.753 within a stipulated period of 1 year. The value of ICX was $0.90 in January of 2021. They are pretty sure that no matter what, ICON is not going to crash.
A lot of doubts encircle the future value of the ICX. ICX may get swept away from the market or even rank in the market cap owing to high value. Anything can happen! Use fundamental analysis and research your unique way before making the investments.
Conclusion
Looking at the ICX price predictions that are provided you with so far, you would think that there is literally no news whatsoever enclosing the project. However, this is not the case at all!
ICON has partnered with a social media application named LINE. LINE is currently the most comprehensive social media platform in Japan. Its messaging app holds over 200 million users every month. This is potentially a great user base for ICON’s decentralized applications when they are developed.
Keeping in mind the difficulty of ascertaining ICX coins’ future value, being cautious and updated about the recent happenings in the cryptocurrency is highly suggested. Think analytically. To play it safe, always invest in small amounts. So, what are you contemplating now get ready to invest in ICX or need some more time?
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Why 2021 is the best time to invest in ICON (ICX)? was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.