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The Green Sheet Online Edition

July 11, 2022 • Issue 22:07:01

Readers Speak: A stable alternative to Bitcoin?

Following Bitcoin's recent plunge in price (cnn.it/3tWpPG1), Alex Konanykhin, CEO and founder of Unicoin, reached out to The Green Sheet to suggest Unicoin offers a less volatile alternative to Bitcoin. Unicoin, launched in February 2022 by the Unicorn Hunters show, is "the first dividend-paying coin that offers investors protection from high volatility because it is backed with real assets," he wrote. (To see episodes of Unicorn Hunters, see https://unicornhunters.com.)

"The world’s largest cryptocurrency, Bitcoin, dropped below the $20,000 mark, according to CoinDesk data," Konanykhin added. "The current crypto market capitalization fell below $17,592.78, falling below $20,000 for the first time since December 2020. It has lost almost 60 percent of its value this year and 37 percent this month alone in the cryptocurrency sector's latest meltdown."

In addition, he noted, "As Bitcoin plunged to less than one-third of its all-time high value, causing massive losses for many crypto investors, Unicoin unveiled its special loss recovery strategy for Bitcoin owners. Unicoin may be purchased using Bitcoins and Ether, so that the owners of those currencies can utilize the superior business model of Unicoin to increase the value of their crypto holdings, possibly by as much as 40,000 percent."

Konanykhin also suggested that because of its stability, Unicoin would be appealing to consumers who have shied away from crypto wallets, as well as to merchants who have been uncertain about the need for crypto acceptance. In addition, he noted, "Unicoin is expected to gain market share, as investors move from traditional no-asset coins to the next generation of cryptocurrencies; Bitcoin is no longer preferred by investors, who at present look for currencies that provide stability and pay dividends to its holders; and Bitcoin has tended to correlate with stocks and other risky assets, and when these indices fall, these crypto coins drop as well."

Does this pique your interest?

With merchants grappling with extreme inflation, are cryptocurrency payments coming up in your sales conversations now? Tell us what's most critical to your business under today's market conditions. We will welcome your comments at greensheet@greensheet.com. end of article

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