Are you also wondering what Ratcoin is and why it’s making the rounds over the web? Read this article to learn everything about Ratcoin and why it’s taking over the crypto world.
Unsurprisingly, Twitter has added another trending topic to the list of Elon Musk controversies. A fairly latest cryptocurrency, RatCoin has been gaining attention in the crypto market as fans/haters/traders are speculating, whether this new cryptocurrency has any ties to the Tesla owner.
With over a 9 Billion maximum supply, we could not resist digging into this recent decentralized blockchain currency. Hence, we got you all the tea surrounding the RatCoin Elon Musk controversy.
RatCoin Elon Musk
Cryptocurrency was a vague term until 2008, when it gained popularity and became an investment opportunity for commoners. While initially, it seemed some kind of scam to a lot of people, all the suspicions were addressed as soon as people were served with transparent statistics.
Ratcoin is another type of cryptocurrency that went live on February 18, 2021, and can be seen making its name to every other respective headline. However, as opposed to now, the Ratcoin’s hype, in the beginning, was nothing but a perplexing phrase until the name of Elon Musk, the richest person in the world and the founder of Tesla Motors and SpaceX as the Ratcoin’s founder, started popping up with the name of the cryptocurrency itself.
Ratcoin Specifications
| Parameter | RatCoin Details |
| Official Name | RatCoin |
| Block Time | 3-Minutes |
| Ticker | RAT |
| Max Supply | 9 Billion |
| Algorithm | Scrypt POS/POW |
| Premine | 20% (1.80 Billion) made up of: 13.49% for the swap (1,214,430,975.76010) 4.26% for Development (383,228,755.00000) 2.25% Community Fund (202,340,269.23991) |
| Stacking Maturity | 30 Blocks (~1.5 Hour) |
| Coin Maturity | 30 Blocks |
The specifications above show a figure of 9 billion coins, out of which, only 1.8 billion are circulating across the crypto market. And given the latest Ratcoin price, which stands at $0.01 as of February 22, the circulating coins are worth $62000. So, if you are worried about the fluctuation or variance in their value, rest assured that the whole quantity of coins, i.e., 9 billion has to be reserved for a drastic change.
Does Elon Musk own RatCoin — Do these Two even relate?
Much to your surprise, the Tesla owner does not own RatCoin. The rumors of the Ratcoin owned by him are absolutely baseless, at least for now. And if you don’t believe my word, believe the direct word from Ratcoin’s official Twitter handle. In the tweet, they wish and clearly deny the rumors of Elon Musk owning Ratcoin, which is doing rounds across the internet.
Infact, a Tweet emerged from the ACTUAL owners of the RatCoin against the statement, saying
FOR THE LAST TIME EVERYONE… WE WISH ELON MUSK CREATED AND OWNED RATCOIN…BUT HE DOESN’T…YET.
#RATCOIN #CRYPTO #ELONMUSK
With the Tweet, all the doubts regarding ‘Does Elon Musk Own RatCoin’ has been addressed.
Who Owns RatCoin?
This has to be the next question, of course. If Elon Musk is not the owner, who is the owner of RatCoin? Well, for now, there is no information available on the web or website regarding the owner of the RatCoin cryptocurrency. We guess we must wait for it until the owner reveals their identity.
How to buy RatCoin in 2023?
Having just started getting known in the crypto world, Ratcoin buy is available at select exchanges. According to Ratcoin’s official website, the following are the exchanges you can trade and buy Ratcoins from:
That said, if you own a physical wallet, and have Ratcoins in it, feel free to trade it across your circle, and transfer it to anyone you want to. Also, if you aren’t aware of the rat coin price, and wish to know them, the above-mentioned exchanges will cater to your requirements in the best way.
But beware that investing in juvenile cryptocurrencies might give you a tough time with the returns or diminish all your investment in the worst-case scenario.
On the other hand, if you want to support the Ratcoin to foster, you might want to have a look on the staking pools, where you could help Ratcoin blockchain network build or grow itself, earning you an unknown extent of awards against your support.
Is there any guideline for buying Ratcoin?
Like all other cryptocurrencies, there are no specific instructions or guidelines to bag in the Ratcoins. You only have to do what’s necessary, like visiting any of the above-mentioned exchanges, buying Ratcoins, and having them transferred to your wallet for further action.
RatCoin Price
| Price | $0.0000035 |
| All-Time High | $0.005542 |
| Days Since ATH | 617 |
| Date of ATH | 4/20/21 |
| % of ATH | 0.06% |
What does Future hold for Ratcoin?
Currently, 1 RatCoin or RAT is equal to $0.0000035 (based on 24-hour time). The chart shows that the highest RatCoin has ever reached was $0.005542, which is still very low compared to other cryptocurrencies.
The decentralized currency’s low price makes traders skeptical about bagging it.
Note: Just relying on the internet is not enough. Do thorough research before investing in any cryptocurrency.
What coin is Elon Musk buying?
Elon for now is focused on making the most out of BitCoins as he has taken the initiative of selling his products, especially Teslas, against BitCoins, which he says won’t be converted into paper currency.
And not to miss the Dogecoin; where Elon prefers BitCoins over paper currency, he aims at fostering his very own Dogecoin to its competency. So amidst all this, Elon Musk engineering an absolutely new cryptocurrency all by himself, and not breaking the news with which he could skyrocket its value, seems nonsense, provided the clarification from Ratcoin itself.
What are the 3 cryptocurrencies Elon Musk owns?
Apart from Dogecoin, there are two more cryptocurrencies that Elon has purchased, namely, they are Ethereum and BitCoin. These three, in total, are the currencies held and traded by Elon Musk and nothing else.
What is Ratcoin?
Ratcoin is a new and emerging cryptocurrency that records its transactions using the decentralized blockchain technology, and lets you, not necessarily, make huge returns upon your investment. For now, its market cap is infractions, but who knows, even BitCoin used to be priced at $0.09 back in 2010.
However, as described on Ratcoin’s official website, the company aims on deploying the last coin you’ll ever need, in terms of profit, driven by its fun and yet-to-rise value. “The goal of the project is quite simple: deploy a fun coin that will ever infest your life,” says the company on their website.
Anyways, it will be the time that will decide whether Ratcoin will fulfill its purpose, but what you can decide is whether you should go for the currency or not. And to do that, here is a look at Ratcoin’s specifications, providing you a comprehensive look at its offerings and capacity.
Is RatCoin a Scam?
It’s the thing with juvenile cryptocurrencies that at the beginning, they are always presumed fraudulent. The same is the case with Ratcoin, and it’s not wrong, given the blurry picture of who and who doesn’t own it. However, it will be way better to wait for the clarification and then start investing than to be a quick hawk while going for the newly-launched cryptocurrency network.
Not only you, many people who are aware of Ratcoin doubt its authenticity and carry many questions unanswered; which puts an enormous load of responsibility on the shoulders of Ratcoin’s founders as they’ll have to answer those questions and build a community that trusts and stakes for them. For now, Ratcoin is just another digital currency development in the crypto world that is seeking ways to outsize its value and have all of its coins reserved to move ahead.
What does the Future hold for Ratcoin?
If you ask me for my word about the future of Ratcoin, I’d say that if, as they wish, Elon Musk had been backing it, it would have been a matter of time for Ratcoin to reach infinite heights. But since it’s not like that, one can’t say anything as it leaves Ratcoin as nothing but another addition in the ever-emerging world of crypto.
Also, when the truth unfolds itself, and it turns out Elon Musk isn’t the one who owns the currency, it would become nearly impossible for Ratcoin to build and maintain the trust. And that would shatter its remaining reputation along with its value to pieces, which is the last thing they would want.
Wrapping Up
By now, it has been cleared that Elon Musk doesn’t own RatCoin, and there is no link between the Tesla owner and the cryptocurrency. It was nothing but marketing tactics to gain traction.
While there has been no word on who owns the Ratcoin, whoever it might be, Elon Musk surely doesn’t own it.
Lastly, if you are considering investing in Ratcoin, we suggest you wait until things get better or at least sifted.
