One thing that sucks about Crypto is that there is very little that YOU can do to affect the price of your favourite coins. You can tell your friends about it, write about it, talk about it but many people are doing the exact same thing for many different coins. The ‘Binance community coin of the month’ poll lets you DIRECTLY affect your coins’ “path”. Every month, Binance nominates a bunch of coins (usually between 10 and 20) and lets its users vote on which coin they think should be listed on Binance next.
It is rumored that listings on Binance can cost up to $2 MILLION; money that has to be paid by that particular coin’s team, which could have been used for further developing their product. So if you own any coins of this months nominees, then you should vote! If you are lucky enough to hold more than one, then you can even vote on all of them. I am excited to own some WePower tokens, so you can take a wild guess who got my vote...
Why Should I bother Voting?
The reward for being voted into the top spot for community coin of the month? A FREE listing on Binance! Let me try and explain how much of an impact that can have.
Beyond Upbit, which is only accessible in South-Korea, Binance is THE biggest crypto exchange with the most daily volume. That means if YOUR favorite coin is listed on binance, there will be a ton of added liquidity, which almost always puts upward pressure on the price. If you have ever watched that show Sharktank, then you know a little bit about how all these different products are fighting for shelf space at big retail chains. If you really simplify it, then this is the crypto version of that phenomenon.
When your juice or energy bar or cereal is only being sold at 7/11 right now and Walmart “picks up” your product then your business is obv. going to blow up (assuming you have a semi-decent product). So when YOUR favorite coin wins the ‘Binance community coin of the month contest,’ then think of it as your coin becoming available at Walmart or Target after having been available only at your local 7/11.
And the beauty of this is that you can increase your coins’ chances by taking part in the vote yourself. Anyone with a Binance account can! Personally, I just got my WePower tokens about 2 weeks ago because I took part in their ICO.
How is this month's race shaping up so far?
So far this 6th edition has been a very fun and entertaining race. Dent took an early lead until WePower took over, then Elastos which was kind of struggling early on, took the lead out of nowhere overnight. At one point the gap between Elastos and WePower was well over 800 votes but with the US waking up, WePower has been able to close the gap to around 100 votes at the time that I am writing this. Who knows maybe they have taken back the lead by the time I publish this or you read this. And maybe Dent makes another run or another coins gets involved in the race out of the blue. Exciting stuff!
Even though the thumbnail might suggest otherwise… I’m not here to shill WePower, at least not really. Honestly. I mean if you own any, then I would obviously encourage you to vote on it, but I realize very well that most of the people reading this will probably be holding one of the other coins, if any. I am mainly writing this to make everyone aware of this great monthly concept invented by Binance, and I encourage you to take part in the voting process by casting a vote for YOUR favorite coin (whichever one it is)! It would be a shame to let your right to vote go to waste! After all, our ancestors have fought hard for that right… ;)
Click on the link below to vote now and be aware that you can only vote once and that voting costs about 0.1 BNB (the Binance currency) or approximately $1.
WePower 'gives' you the 0.1 BNB if you are voting for them and is promising to reward everyone who voted 200 tokens IF they win. To vote for WePower for free and to be rewarded 200 tokens IF they win, use the second link! Voting closes on the 25th.
https://www.binance.com/vote.html
https://medium.com/wepower/support-wpr-in-community-coin-of-the-month-voting-on-binance-da4f6a48f301