Expert Olena Sosiedka told us what to look for when investing in memecoins
Kyiv • UNN
The co-founder of Ukraine's first fintech ecosystem explains the risks and potential of investing in memecoins, digital currencies based on popular memes.
Memcoins have quickly gained popularity among young people and active social media users, but investing in them has certain risks. Olena Sosiedka, co-founder of Ukraine's first fintech ecosystem Concord Fintech Solutions, told about this, UNN reports.
She reminded us that memecoins are a special type of digital currency based on popular memes, similar to bitcoin, but with a more humorous and lighthearted approach. The popularity of a particular memecoin depends on how well known the meme used to create it is.
"However, investing in memecoins has its risks, as not all of them are able to succeed. It is important to take into account the project's capitalization and the potential for hype," said Olena Sosiedka.
The expert points out that memecoins are used not only for trading, but also for supporting content creators, buying unique memes, or even shopping in online stores, which demonstrates their versatility and ability to adapt to different areas of life.
"Memecoins open up a fascinating world where humor, internet culture, and financial innovation intertwine, offering new opportunities to express yourself and support your favorite topics or characters," emphasized Olena Sosiedka.
Recall
UNN has launched a series of publications that will tell about digital currencies and their possibilities. Our first material was devoted to the technology underlying cryptocurrencies - the blockchain: "Crypto for Dummies". Part 1: what is blockchain and its "features" that few people know about.
The second material is about halving: Crypto for Dummies. Part 2: What is halving and why it is causing a stir in the cryptocurrency market.
