The successful presale campaign of Big Eyes Coin (BIG) has made one thing clear, i.e. cryptocurrencies are here to stay. The uphill battle that started with the introduction of Bitcoin back in 2009 is now at an interesting phase.
The arrival of new, innovative, and future-centric cryptocurrencies have further added fuel to the fiery discussion about the battle between digital and fiat money.
Many innovative digital currencies like Big Eyes Coin, Dash (DASH), and Verge (XVG) have emerged on the crypto scene in recent years. The advent of these future-centric cryptocurrencies has caused a buzz in the financial world about using digital currencies in parallel with the existing fiat money.
Let’s understand how Big Eyes Coin, Dash, and Verge can uphold the crypto world against fiat money in this long battle of existence.
Big Eyes Vault Pin: Higher the Spend, Bigger the Reward
Before we delve into the broader context of the discussion, Big Eyes Coin rolled out its first vault pin on Tuesday. The BIG Vault offers users massive rewards for spending higher.
If you invest:
- $100 of $BIG = Saver Tin (worth $9.99)
- $1,000 of $BIG = Cute Box (worth $99)
- $10,000 of $BIG = Super Saiyan Box (worth $999)
- $100,000 of $BIG = Excali-Paw Chest (worth $9,999)
It is important to note here that every $100 of BIG tokens gives you another Saver Tin, whereas $500 of BIG tokens will give you five Saver Tins! Use the pin ‘819’ to earn free loot boxes on your purchases of over $100. The higher you spend, the bigger rewards you earn.
BIG News for Ocean Lovers!
Since Big Eyes Coin supports the social cause of protecting oceans and marine life, it is big news for Kitty Cuddlers. After ten years of negotiations between 200 countries, the United Nations has finally signed a historic agreement to protect the world’s oceans. It has been regarded by Greenpeace as the “biggest conservation victory ever.”
What is the Big Eyes Coin Launch Date?
The impressive presale campaign has got everyone excited about Big Eyes Coin’s launch date. The meme coin explained in a Tweet, “We will launch once we have completed the 15th stage and 70% of the coins are sold. As soon as this happens, we can provide a launch date. Until then, the presale must continue.”
Who Will Uphold Cryptos Against Fiat Money?
Digital currencies have exploded in popularity in the last 15 years. However, many still question their ability to hold up against fiat money, which is supported by governments and central banks. Big Eyes Coin, Dash, and Verge are fully-equipped to serve traders, investors, and businesses in the long term as an alternative to the existing fiat money.
Let’s explore the factors that can help digital currencies hold up against fiat currencies.
Digital currencies enjoy several advantages over fiat currencies. Let’s have a look at some of them.
1. Decentralization Holds the Key
The decentralized nature of cryptocurrencies gives them a clear edge over conventional fiat currencies. Fiat money is controlled by central banks, but cryptocurrencies don’t fall under the authority of any government, financial regulator, or watchdog. It makes digital currencies a lot less susceptible to inflation pressures that emanate from government policies like quantitative easing.
2. Free From Geopolitical Risks
Unlike fiat currencies, digital currencies are not associated with any particular country. It means they are larger than any geopolitical risks. A cold war or an actual war is highly unlikely to impact price fluctuations in the crypto market.
3. Transparency Matters
Another advantage of digital currencies over fiat money is their transparency. All crypto transactions are recorded on a public ledger, which not only makes them easily traceable but also saves them from any kind of manipulation. This is why digital currencies sound more appealing to the ones who value transparency, privacy, and security.
Apart from many advantages, several challenges can minimize digital currencies’ potential to hold up against fiat money.
1. Volatility is a Major Cause of Concern
The crypto industry has long been labeled as a volatile market. Digital currencies are known for their wild price fluctuations, which can make them less appealing to people with a long-term strategy.
2. Not Widely Adopted Yet
Another challenge that can make digital currencies unsuitable for use as a medium of exchange is their less availability across the world. Digital currencies are not yet widely accepted as a form of payment, which limits their usefulness in everyday transactions.
3. Lack of Regulation
While the decentralized nature of digital currencies gives them an edge over fiat currencies, it can also be a headache for them. The lack of regulation may repel some interested traders and investors from buying exposure in cryptocurrencies. The absence of regulation by any government, financial regulator, or watchdog may lead to concerns about money laundering and other illicit activities.
Digital currencies like Big Eyes Coin, Dash, and Verge have already proven to be viable alternatives to fiat money in certain contexts despite the above-stated challenges.
For example, digital currencies are being used more than ever to facilitate cross-border trade and as a store of value. Moreover, there are ongoing efforts to address the challenges facing digital currencies, such as scalability and regulation. These efforts will help cryptocurrencies get closer to realizing their true potential against fiat money.
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