MoonRock is a decentralized autonomous organization (DAO) vision to become the safest and most inclusive DAO in Defi for innovation and capitalization. Learn more about this exciting new community through its official website at https://moonrockdao.com/ and watch this video entitled ‘What is MoonRock?’ which explains what MoonRock is, how it works, and why you should consider investing in it.
The battle to legalize medicinal and recreational marijuana is gaining traction worldwide. Although weed is legal in Canada, it is illegal in many jurisdictions outside of the country. Hence, the personal information of marijuana users is susceptible.
There are various ways to keep your identity private when you buy cannabis products. You can pay in cash from a local dispensary or use a secure e-transfer system online. Nonetheless, consider cryptocurrency if you are worried about your personal information getting exposed virtually. The use of marijuana-specific cryptocurrency ensures your anonymity as you buy weed online.
Cryptocurrencies allow buyers in the cannabis industry to transact with sellers privately. Although Bitcoin remains the most popular virtual currency today, many alternatives cater to different industries. This article will discuss MoonRock (ROCK), a new alternative virtual currency once traded at Uniswap, which is on the ETH network.
What is a MoonRock Coin?
MoonRock or ROCK is a virtual currency and a Defi ecosystem. A Defi (decentralized finance) system is a virtual financial ecosystem that provides financial services, including trading, lending, and borrowing on a public network. While it is open to anyone with an Internet connection, it is a safe financial option for anyone looking for an alternative to using cash or banking institutions.
MoonRock has community fund pools that invest and build Defi, Meta, and Web 3.0 utilities. They trade, lend, farm, and provide capital to new projects and use the profits generated to buy back and burn tokens of ROCK. As the currency deflates, the currency increases in value. Therefore, if you invest in ROCK earlier, you have the opportunity to generate profits in the future.
The currency is now traded on Uniswap as it has moved to the Ethereum network. Connect a crypto wallet at the exchange and start investing in ROCK coins. You can open a non-custodial wallet if you do not have one yet. It will not require an email, password, or any other private information from you. You can check the current MoonRock price (ROCK price), market cap, circulating supply, total supply, and further details about MoonRock on the platform.
You can always check the current price and other data of cryptocurrencies on the Uniswap decentralized. You can also download the platform app on your smartphone. If you are new to cryptocurrency, you may want to do your research first or talk to a financial advisor to help you start your MoonRock trades.
There are many cryptocurrency Defi Systems. Ethereum is by far the most widely used network for projects on the planet. MoonRock (ROCK) coin recently migrated to the ETH network via their V2 protocol.
Uniswap is a decentralized exchange (DEX) platform that provides a marketplace for ETH farmers, traders, and liquidity providers. It is one of the largest DEX platforms on the entire market, as most projects utilize the ETH network.
Uniswap quickly became a well-known platform because it provided an alternative to other major exchanges. The high exchange fees at major networks made it difficult and expensive for cryptocurrency investors to trade or liquidate their assets.
Before you decide to invest in MoonRock or any other cryptocurrency, you need to invest in crypto-financial education. Like any other financial instrument, there are fundamental principles that you need to master. Here are some tips to help you along your journey.
Develop a Crypto Trading Strategy
Never enter into any investment without a strategy. There are many scam sharks out there lurking in the depths of the virtual world, ready to devour your money. It is not easy to determine scam currencies from genuine ones. In the first nine months of 2021, over 7,000 cryptocurrency investment scams have been reported. Therefore, when provided with much information about crypto, do not immediately jump into the hype. Take the time to investigate the currency and do your research.
Many people fall into scams because of greed. Scam marketers lead unwary investors into a trap by promising huge profits when they act right away. Avoid the hype and perform due diligence. Look into the project carefully and assess how many users it has. Does it solve any problem? Has it delivered any of its promises?
Have a Risk Management Plan
Remember that cryptocurrency, like all other investments, involves risk. Marketers of cryptocurrencies may not have your best interest in mind. Hence, do not fall into the mistake of putting all your money into one currency. Set a limit on how much money you invest in a specific virtual currency. Do not mistake trading all your life savings into one risky investment. Invest what you can afford to lose.
Diversify Your Portfolio
While it is an excellent strategy to enter into a cryptocurrency project while still young, putting all your investment funds into one currency is not wise. It pays to diversify your crypto portfolio. The same principle applies to stocks and foreign currency exchange. You have to spread your investment fund into different currencies to avoid overexposing if one currency dips in value. The virtual currency market is highly volatile. The value of one coin can rise today and unexpectedly crash tomorrow.
Invest for the Long Term
Although day-trading can be lucrative, investing for the long term is a proven strategy. The prices of currency can rise and fall daily. Many inexperienced traders often panic when the prices of their investments dip. Do not be bothered by a momentary dip in value. Cryptocurrencies are not going to go away soon. Sometimes, leaving your money for months or years on an investment platform can help you reap the rewards of your investments.
Use Automated Purchases
You can automate your purchase of cryptocurrency. You set the platform to purchase a specified amount of cryptocurrency every month. For instance, you commit $100 worth of crypto every month. The system buys $100 worth of crypto every month. Instead of stressing when to purchase crypto, recurring buys ensure that you continuously put a portion of your funds into an investment.
MoonRock is a new virtual currency. It is worth considering while it is still fresh on the market. Before you make any commitment to invest your money in any cryptocurrency, be sure to invest in your financial education. Do not enter into any investment opportunity without having enough information about trading and cryptocurrencies.
UPDATE: MoonRock was initially listed on the Binance Smart Chain (BSC) network, but has now migrated to the Ethereum network via MoonRock Coin V2. Check the Ethereum Migration FAQ section for Ethereum Migration on the website for more information. Be sure to go through all the pertinent information about the project and strategize your investment.