Coinary, popularly known as $CYT is a digital currency/coin that has been in the game for quite a while. Developers created a Coinary multi verse meant to facilitate ease of operation especially in crypto-based games like Dragonary. When you trade Coinary on Dragonary gamers are free from the commission and extra fees because the NFT marketplace is not structured to accommodate high charges.
We rewind to 2015 and pick up cryptokenz. It is a powerhouse digital coin type that also uses the same symbol as used by Coinary. The only visible difference between the two digital coins is that cryptokenz has been tagged and named inactive and docile meaning that its value has subsided as compared to coinary value status.
This article will look at how to buy coinary, where to buy CYT coin, best places to buy coinary, and how CYT token PHP came to be a digital out smarter. In our rundown below we shall detail the demarcation that exists between cryptokenz and coinary. They may appear to be similar but they are not related.
Luckily for coinary fanatics across the world, CYT tokens will in a matter of months grow as a move to maintain and stabilize price movements. Developers have scheduled a billion CYT tokens in the next decade, a great move that will see a lot of fresh gamers and digital fanatics joining and enjoying.
What is Coinary
It will be very detrimental to newbies if we do not detail the actual definition of coinary. What is it anyway? Well, Coinary is a digital token, which is also known by its short acronym $CYT. It utilizes ERC-20 or BEP-20. In terms of network convenience and security, CYT is compatible with Callisto Network, and in most cases, developers use Binance Smart Chain (BSC) considering that Binance is currently ruling the digital roost when it comes to cryptocurrency exchanges and coin transactions.
The basic idea behind the introduction of coinary is to evade inflation. A lot of crypto gamers and digital fanatics have lost a lot due to the shape-shifting and fluctuation of the market towards inflation but CYT is the ultimate problem solver. Developers are targeting 1 billion tokens that will be dispatched to the rest of crypto gamers encompassed in games like Dragonary. In the multiverse, CYT is the main coin.
Coinary marketplace is very flexible and comes with a conversion feature that successfully translates cryptocurrency to CYT. Translated CYT is then deposited to various accounts of many users for storage. CYT deflationary is all in all defected meaning that gamers who fulfill in-game commission or breeding commission or items combining commission will claim token burn out by 80%.
The remaining 20% will be transferred to different accounts of various players. Official Dragonary team will claim a total of 50 million tokens and they will be kept safe for a decade. While the official team has to block 10 years, other teams have to block for 2-4 years. That’s how long other teams in the industry wait before they start to claim back.
Exchanges to buy CYT
ApeSwap
Apeswap is very reputable when you wish to buy CYT. Apeswap was established in 2021, February to be exact. It is linked with another reputable exchange called PancakeSwap. This means that relations co-exist between the two. ApeSwap is an automated market that cannot only yield farms under protocol but also giving players a fresh feel of its services like staking and token offering.
ApeSwap has a digital giant that supports it in all of its operations, the tech is Binance. We all know what Binance has done, what it is doing, and what it shall do in the future. According to DappRadar and Binance Smart Chain statistics, ApeSwap has been part and parcel of the top three decentralized applications.
Overall it holds the 16th position while DeFi places it on 3rd also. Not only is it gaining so much popular but it is also becoming a digital tradition, a platform where people feel safe to purchase and exchange CYT.
Remember that ApeSwap was made for DeFi operations meaning that it can not fulfill entity control. Works like DEXes which encourages native governance to tokens and active on-chain governance also not forgetting AMM. Check out crypto pools. These are the exact destinations of the traded token. Pools are open for swaps between depositors and traders.
Pros
- Very conducive
- Pool mechanics are flexible
- Has a lot of guarantees
- The conversion rate is fast
Cons
- Not yet experienced
Dodo BSC
This is an ethereum based exchange. What a great storage package when we talk of on-chain liquidity. You can see its efficiency when you differentiate PMM and AMM. Users can see the level of improvement. Dodo BSC shows great levels of LP technology that is launching of on-chain transact and liquidity that does not only contact fillable but conducive for many users.
Dodo is the master of liquidity when there is so much trading going on. What more can you ask from an exchange with low slippage and small consideration to impermanent loss. As we have highlighted in the introduction, we shall look at the benefits and non-benefits of detailed exchanges. Let us look at Dodo BSC pros.
Pros
Staking
Users can easily stake what is called $BANANA tokens. By doing so, there is a big guarantee of high reward and good network participation.
Yield Farming
This means that users can participate fully in various pools. Pool access means absolute farming activities to obtain $BANANA rewards.
Liquidity Pools
By participating in liquidity pools in full swing, users can get many tokens from a lot of partner projects.
Cross-Chain Interoperability
Did you know that ApeSwap has enlarged its operations to Polygon Network? Yes, this means that users can no longer rely only on Callisto Network and Binance Smart Chain. The introduction of Polygon Network means that cross-chain functionality is easily executable on BEX platforms.
Introducing GNANA
$GNANA is the latest token initiative meant to cut off derivative tokens to the entirety of whale activity. $GNANA is also meant to stabilize $BANANA value. Circulation of $BNANA has to be regulated at some point and it is very possible with $GNANA. $GNANA does so by burning $BANANA. Check out 28% mint produce of $GNANA and a total of 2% of the reflective fee.
Initial Ape Offerings (IAOs)
Courtesy of ApeSwap, IAOs is an initial digital mechanic that allows users to come up with projects (funding-based projects). Use a wide enough opportunity to ape into projects establishing on on ApeSwap. BNB and GNANA purchasing is very possible on IAOs, a good move if you really want to be ahead of many participants.
Cons
- Inflation cut is overrated
How Coinary token is different?
Below we detail those unique features from Coinary.
- Coinary market place translates cryptocurrencies into CYT
- CYT can be deposited into an official active account
- Expect 80% burn out tokens through in-game purchase commission, items combination commission, and breeding commission
- 20% will be shared with the remaining users
- There is no commission charged when using coinary on crypto games like Dragonary
- The website is fast and compatible with many devices
- Network embracement is top notch considering easy and quick access to download plugins.
Things to consider before buying CYT token
Below we list detailed considerations before you start to think of buying a CYT token.
- Operational platforms include Windows 64 bit, Linux, iOS, Android, and macOS.
- Device connection to good internet
- Do not forget to create an active wallet.
- Liquidity rate
- It is achievable to buy Coinary with USD, with a debit card, or with PayPal.
Where to store CYT token
If you are a newbie, you’re trying to figure out the best place to store your CYT. If you still have a small amount, you can go right ahead and throw it on the exchange where you bought it. However, for large amounts, you will need to find other means of storing it.
Listed below are some of the best ways for storage. Read on.
Software Wallets
Software wallets are perfect for those who are just starting. This is because they are free to use. On top of that, they are much better than leaving your crypto on an exchange. Make sure you choose a great wallet that you can use and remember that if you’re going to make a withdrawal, you will be charged a small fee.
Hardware Wallets
Hardware wallets are connected to the internet, which prevents your crypto from being stolen or hacked into. Ledgers are perfect since they have been around for quite a long time, and you also get a wide range of devices that you can use.
Leaving it on an Exchange
We know that earlier we said that it’s not recommended to leave your crypto on an exchange, but if you are trading actively, then you might want to do this. Although it’s a great risk, it gives you instant access to your crypto, and also it serves you a lot of fees that are associated with transactions and withdrawals.
Having mentioned that, you must do your research and use a great exchange with good reviews. The best way to go about it is to enable 2-Factor Authentication and always remember to use a secure password.
Privacy and security tips
When you create an account for CYT, make sure that you insert a strong password. Always rely on Callisto Network, Binance Smart Chain (BSC), and Polygon Network. They are not only reputable but offer users efficiency. NFT marketplace is full of competitive bidders and there is a potion of biased players that tend to jeopardize your whole purchasing process.
Conclusion
CYT is a fresh market, one that is yet to break the scene. It shall take only a matter of months for users to get the grip of what we are really talking about. Luckily, investors now know what it means when it comes to CYT purchases. Some prefer to invest in low CYT volumes fearing deflation while some invest huge amounts. Just make sure that you wait and invest when the market is perfect. $CYT is the ideal way to go when it comes to investment.
