Ratcoin 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, a renowned tech enthusiast, the richest person in the world, the founder of Tesla Motors and SpaceX as the Ratcoin’s founder started popping up with the name of the cryptocurrency itself.
The Ratcoin abruptly became the center of attention for all the crypto traders out there, leaving them confused with their favorite decentralized currency, shaking their persistence with it, and convincing them to replace it with Ratcoin. However, upon not hearing anything from the rumored founder, i.e., Elon Musk, things got intricate; as most people had already decided to opt for Ratcoin as soon as they heard of Elon Musk being the founder, and most of them were right by the corner to replacing their existing choice with Ratcoin.
And you might as well be one of those. And it’s not wrong or dumb to adapt to change, especially when the richest person in the world is the one causing it. If I were you, I’d have done the same thing; I’d have given up against the hype and would have already bought the Ratcoins. But only if there was a change or had Elon Musk really owned the Ratcoin. Keep reading on to find out everything about Ratcoin, and what exactly does it have to do with Elon Musk?
RatCoin Elon Musk — Do these Two even relate?
Ratcoin is reportedly named after the Chinese RAT year that comes after every 12 years and denotes prosperity, wealth, reproduction, etc. Well, the RAT year denoting the former verb and nouns doesn’t necessitate you getting rich overnight or right after buying the Ratcoins; but like other cryptocurrencies, there are substantial chances of Ratcoin making its way to the competition.
However, as far as Elon Musk is concerned, 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 the Ratcoin, which is doing rounds across the internet.
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 the 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.
Hence it would be wise to say that Elon Musk doesn’t own Ratcoin; instead, his name did a job of a marketing agency for Ratcoin, awarding not only you but millions of people around the world of one of the latest developments in the crypto sector.
What Exactly is Elon Musk’s Cryptocurrency?
As I mentioned in the previous section, Dogecoin is the cryptocurrency that Elon Musk owns. But people confuse it with the Shiba Inu token that Elon Musk doesn’t have, let alone owning it. However, 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. At least yet, as there has been no word on who owns the Ratcoin, but whoever it might be, Elon Musk surely doesn’t own it.
It is just a marketing stunt all juvenile small-market caps companies do. And Ratcoin on the other hand, belonging to the same juvenile sector, and struggling with getting known since its launch, might have pulled the strings to make its name into the headlines.
Anyways, here was about the clarification of rumors, but from now on it will all be about the Ratcoin, its specs, purpose, what it’s worth, how and where you can buy it, and could it be a potential scam?
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.
Max Supply: 9,000,000,000 (9 billion)
Block time: 3 Minutes
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)
Coinbase maturity: 30 blocks
Staking Maturity: 30 Blocks (~1.5 Hour)
Target spacing: 3 minutes
Target timespan: 1 block
Transaction confirmations: 30 blocks
Pow 0 coins per block till block 200k
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.
RatCoin – How to buy and Where to buy?
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:
And yes, 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.
Following are the staking pools having Ratcoin listed:
You can also stake using your crypto wallet, being the easiest and most rewarding way to do so.
How to buy 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.
Could Ratcoin be 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 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.
In the light of all that could be presented, It somehow proves that Ratcoin isn’t owned by Elon Musk. And since it’s me saying it all, and not RatCoin Elon Musk themselves, it doesn’t endorse the verdict. So if you are thinking about investing in Ratcoin, I’d suggest you wait until things get better or at least sifted.
Otherwise, if you want to test your luck, you have all the information you need to start trading with Ratcoin. But while doing so, make sure you invest a bearable amount of money because you never know what is disguised as who. So, start with the amount you can bear losing, and if things go well, you can invest the next big amount into Ratcoin and bring the most out of the respective digital currency.