Coco Swap (COCO) is trending today, with nearly a 2x gain in the last 24 hours
Coco Swap is an auto yield generation protocol that rewards users for simply holding COCO tokens in their wallets. The coin has smashed through its previous highs this week, implying that its deflationary yield production strategy is working. Currently at $0.001452, COCO is catching its breath before shooting further up the price charts.
Continue reading this article to learn more about Coco Swap, as well as how and where to buy COCO.
How & where to buy Coco Swap in the UK and elsewhere
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As COCO is such a new asset, it’s yet to be listed on major exchanges. You can still purchase COCO using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy COCO right now, follow these steps:
1. Buy BNB on a regulated exchange or broker, like Binance ›
We suggest Binance because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your BNB to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the SushiSwap DEX
Head to SushiSwap, and ‘connect’ your wallet to it.
4. You can now swap your BNB for COCO
Now that you’re connected, you’ll be able to swap for 100s of coins including COCO.
What is Coco Swap?
Coco Swap is a deflationary, decentralised autonomous yield protocol that allows users to trade cryptocurrencies, NFTs, and crypto derivatives without the need for a central authority.
The COCO token itself employs an interesting tokenomic model, distributing new COCO coins to holders simply for holding COCO in their wallets. This encourages low sell-side liquidity, as tokens will be locked up in wallets, and so in theory this should drive the COCO price up. It seems to be working so far, with an 87% rally for COCO in the last 24 hours.
Should I buy COCO today?
Coco Swap is a great potential option for DeFi enthusiasts. Investors are always looking for the next DeFi project to blow up, and Coco Swap is showing early signs that it could do just that. With a rapid rally like that seen today, COCO could easily shoot up even high than the all-time high it has just achieved, and this would be welcomed by early adopters.
This article is informational only — none of the contents should be construed as financial or investment advice.