Cryptocurrency is becoming one of the most preferred modes of investment these days. As the popularity of cryptocurrencies continues to grow, more and more people are becoming interested and more types of cryptocurrencies are sprouting. These new types of cryptocurrencies include The People’s Reserve (TPR). If you are among those who are quite interested in adding TPR to their investment portfolio, then here are three important questions and answers you should know about.
1. What is The People’s Reserve?
As a new type of anchored coin, TPR combines the features of stablecoins and additional altcoins. The rate of The People’s Reserve is tied to the last highest price of gold, and this makes it less volatile in comparison to other types of cryptocurrencies. Compared to Bitcoin, for example, TPR remains stable no matter how much the crypto market fluctuates and it does not lose value over time.
Even if it is an anchored coin, TPR is still considered a stablecoin, which is a type of cryptocurrency tethered to an external source of money. This means TPR self-actualises against the US dollar reserve and with that, every TPR traded will mean an equivalent deduction in USD from the reserve pool.
2. How is TPR’s Value Determined?
Being an anchored coin, The People’s Reserve’s valuation relies on the highest value of a tangible currency, specifically the last highest value of gold. Since gold does not devalue, it means The People’s Reserve is crash proof. It might not have as high of a value as that of Bitcoin, but at the same time, its rate fluctuations are not as drastic as those of top cryptos.
Also Read: Key Things To Know About Crypto Swaps
3. Is This a Good Choice for New Investors?
Considered to be a stablecoin that is built “for the people”, The People’s Reserve offers a number of benefits that other types of cryptocurrency can not offer. If you are a new investor, a cryptocurrency like TPR can be good for you given the following reasons:
Transaction speed is very fast. Even when there’s a high influx of transactions, you can still expect fast transaction speeds for every TPR trades. This is due to TPR’s non-collateralised algorithm which gives the network the opportunity to breathe, so each transaction will only take about 2 seconds to complete.
Transaction price is cheaper. Apart from it’s almost instantaneous transaction speed, each TPR trade can also be completed virtually free of charge! With up to 25 free transactions daily, you can send out or receive TPR without paying any transaction fee.
Rate fluctuations are less drastic. One of the unpredictabilities of cryptocurrencies are its fluctuations. If you are among those investors who would want to invest with less risks, TPR is ideal as its value ties to the last top value of gold.
Discover the Potential of The People’s Reserve
The People’s Reserve offers a great potential to investors who would like to try diving into the cryptocurrency market without facing too much risk. With a stable rate, speedy and practically fee-less transactions, TPR can be a great investment for new investors. Before deciding to buy TPR and any other types of cryptocurrency, see to it that you are always updated on the latest crypto news, you must also do your research first, and consult reliable cryptocurrency references to find out what virtual currency best suits your investment portfolio.