Egod risks and cryptocurrency risks.
This is important
, please read fully before trading EGOD.
Egod is a speculative crypto. It is not backed by anything—there is no guarantee price will go up.
Cryptocurrencies, especially those without utility, are extremely volatile.
EGOD has no utility, it is purely a meme-backed crypto-currency. Please trade for entertainment purposes, do not support the EGOD project with any funds you are not willing to lose to the volatility of the markets.
Will I make money?
Trading non-utility cryptocurrencies is a zero-sum game. Nobody is making money unless someone else is losing money.
This is the case for almost all non-utility cryptocurrnecies you will encounter so it is important you understand how this ecosystem works.
A buyer will purchase EGOD at a certain price because they believe in the future they will be able to sell it to someone else at a higher price (because they believe that person will believe they will be able to sell it to someone at a higher price). When the buyer buys EGOD, the price may increase. When the buyer sells EGOD the price may decrease. If the zeitgeist is such that people no longer believe EGOD will increase in value, they may start selling more than people are buying which will cause the price to go down.
The only way anyone can make money in a system like this is if someone else loses money, it's a zero-sum game. If you believe EGOD is going to increase in value then you may be interested in purchasing some. If you like the idea of EGOD as a concept and want to support the Battle-Of-The-Memes, then you may be interested in purchasing some. If you believe that the value of EGOD is going to decrease, then do not purchase and instead just enjoy the memes!
Buying cryptos is not the same as, say, investing in the stock market, infact buying non-utility cryptos is not investing at all. There is nothing tangible backing EGOD. This is a social experiment for entertainment purposes. It is entirely feasible that at any moment the price of EGOD collapses to $0.
EGOD is a meme-backed crypto, our theory (read more in our whitepaper
) is that the more viral EGOD memes become, the more people will want to participate, and thus the price will increase. This is just a theory, please only participate for entertainment purposes only. Do not put any money into this system (or any crypto for that matter) that you are not willing to lose entirely.
This is NOT financial advice.