Besides having a very cool name, what good is Einsteinium? Find out here if it’s genius or pure rubbish, and whether it’s a better investment than Bitcoin.
Einsteinium is a platform that is part of the Bitcoin group of cryptos. Its purpose is to encourage innovation and ideas and support projects, whether small or commercial. The aim is to donate the proceeds from taxing the mining of the Einsteinium to scientific causes. The currency is called EMC2. So far, according to the foundation website, they have made 16 million EMC2.
It is really more of a Bitcoin token with a great cause than a genuinely useful crypto. Of course, it holds value and it ticks along nicely, but the goal of Einsteinium isn’t to make investors huge amounts of profit. It does not even necessarily benefit its creators financially. It's more about giving something back to the world of crypto that Bitcoin began.
Technically, it is not a terrible idea to invest in it. The profit margins are there over a medium- to long-term investment if the track record is anything to go by. However, there is the fact that it is not a particularly useful cryptocurrency. Its sole design structure around generating income for science and proposition as a foundation almost sets it up as a crypto charity. We have yet to see the day that investors make a profit from a charity unless they own that charity. So, in this respect, it isn’t the best crypto to invest in. If you want to feel like you’re contributing to the world of science and technology through your crypto investments, then putting a bit of money Einsteinium’s way could well be your next crypto purchase. Whether it will evolve into something lucrative like Bitcoin remains to be seen.
Do you want to get rich investing in altcoins? If so, join us at YouToken.