Who said magic wasn’t real? Enter, the SPELL Token!
The Ethereum blockchain has paved the way for many great tokens over the years and we’d like to introduce you to one of our favorite assets thus far that has been outperforming most of them, the Spell Token (SPELL). Armed with interest-bearing assets like xSUSHI and yvYFI, you can mint a stablecoin that generally stays about $1.00 called Magic Internet Money (MIM) using the Abracadabra platform.
What is (SPELL)
SPELL is a governance token that can be staked to earn “sSPELL”, which gives governance opportunities and various rewards. SPELL has been climbing the charts since August of 2021 and has been doing very well. As the community continues to grow and more holders hold on for dear life, we can expect the rising trend to continue in the long term.
According to the team’s website, Abracadabra.money is essentially a “Spell Book” that allows its users to produce Magic Internet Money (MIM). The user provides collateral that can be used to then borrow (MIM) that you can swap for any other traditional stable coin. This is a unique original concept that we believe is a driving factor to a very bright future.
The (SPELL) Community
With just under 108k followers on Twitter at the time, this article was written and with an active Discord community, this token is set for lift-off at almost 20k holders. With cryptocurrency in general expected to rise exponentially over the next decade, this makes it a great opportunity to invest in tokens with a future and we believe strongly that SPELL can potentially be one of these tokens.
Of course, when it comes to investing in a new cryptocurrency there are never any guarantees, but the SPELL token looks to be promising and continues to grow. Paired with their well-designed and thought-out website we have high hopes for this one and have it saved on our watchlist on Stompy Charts!
SPELL Live Chart
Earn Passive Income By Staking Your (SPELL)
Everyone likes investing in a coin that can further invest for itself! The Abracadabra platform makes it easy to stake your SPELL which will passively earn “sSPELL”. This can be done easily from the abracadabra.money website. You can learn more about Staking with SPELL by clicking HERE.
How To Purchase (SPELL)
SPELL can be purchased on many large exchanges, for a quick easy purchase we recommend using Coinbase as the transaction fees are generally very low. Coinbase is one of the largest and most secure exchanges available making transactions safe and easy.
How Can You Safely Store Your (SPELL)?
SPELL is an Erc-20 token that can be stored on a multitude of various wallets. There is only one wallet we can recommend however which is the Trezor Hardware Wallet. Digital wallets and exchanges are vulnerable to attack and to eliminate that worry it is the best practice to store your investments on a secured cold storage wallet. Trezor allows for storage of any ERC-20 token, making it easy to ensure your investments are protected.
If you’re interested in learning more about Trezor, look at the links below for more detailed information.
Our Contribution to SPELL
We have updated information and added SPELL to our comprehensive Coin Search as well as our Stompy Charts! Anyone may add SPELL to their watchlist and keep track of how SPELL is doing via our Stompy Chart system. Our aim is to get as much attention for SPELL as possible and by adding SPELL to our search engine we aim to help spread the word of this wonderful token.
Stompy’s Magical Conclusion
We believe that great things are in store for the future of (SPELL) and all of its holders. This coin seems poised for greatness and we will continue to watch for developments and updates as they arise. We encourage all our readers to research this wonderful Ethereum based token for yourself using the links provided below and we look forward to seeing what the future holds for SPELL and all its holders.
Learn More About (SPELL)
This is NOT Financial AdviceStompy always recommends doing your own research before making an investment decision.