Okay people, y’all know I usually post about crocheting, family, photography and health. I normally don’t post about crypto.
What does that tell you?
If I’m posting about crypto, it must be something good! 🤣
No, but seriously it’s because I think this project is pretty outstanding that I deemed it worthy of sharing with you.
This is an in case you didn’t know heads up post. 😁
I wish I was better at explaining things of crypto but I’m still trying to wrap my own brain around it all. Thankfully I have a good teacher at home that helps me understand things further.
When I can grasp a concept and see the benefit of it or see how it will pay off in the end then I’m doing pretty good. This is one of those things where I can see how it will change the world of blockchain and the crypto game of buying, selling and trading.
Before I continue let me...
DISCLAIMER:
I am in no way shape or form giving financial or investment advice. I am far from a financial advisor. What I write in this post are only my opinions and assumptions based off the knowledge I’ve gained from using this app and possessing EGLD. It is always in your best interests to do your own research, analysis and investigation on information presented to you in order to come to your own conclusions.
With that said I will do my best to show you why I think this project is worth looking into and show you some screenshots of the app.
I will also do my best to answer any questions you might have but with a warning I might not be able to since I am already giving you what I know in this publication. However, I will leave you with some links you can go to that could further assist your inquiries.
Last month when writing about my Financial Goals I briefly mentioned we were investing and staking eGLD. At the time of that post the price was listed at $32.69. Currently at the time of this post the price is listed at $87.85. Such a significant jump in just one month.
What is Elrond?
Elrond is an internet-scale blockchain for fast, secure digital payments. Elrond Gold (eGLD) is the native currency of the Elrond blockchain, that you can send, spend and stake using Maiar.
Elrond exists with the overarching goal of (a) creating the backbone for a high bandwidth, transparent financial system, and (b) extending universal access to anyone, anywhere.
This will be a multi-trillion dollar market, and will, ultimately, have a significant GDP multiplier effect on the world economy. Increasing the speed and bandwidth at which the global economy works, enabling the last 1.7 billion people to connect, and providing new value creation tools on top, could actually enable the entire economy to grow with a factor of 10, or even 100.
To be clear, Elrond is complementary to Bitcoin and Ethereum. I believe Bitcoin will continue to exist, and will likely be a multi trillion dollar asset. Ethereum will continue to exist, and will also reach a multi trillion dollar status. Both deserve serious credit for their contributions. Taking things one step further, I believe Elrond will be the wave that will lift all boats, taking this massive opportunity from a niche group of people, and extending it to everyone in the world.
Beniamin Mincu - FOUNDER & CEO - Elrond Network
I love that they are working to extend universal access so any and everyone will be able to be apart of this. They want these opportunities to be reachable for all that are interested no matter where in the world they may be.
This project is being developed and set up to be a crypto market game changer!
When my husband showed me the staking opportunities and the monthly rewards you gain from it I was pretty amazed. I’m familiar with staking rewards but never was this impressed after viewing the numbers (we put in different scenarios of staking amounts to see the reward gain per month/year).
You can begin staking after you have 10 EGLDs in your wallet which is the minimum amount required.
Staking will become available to the Maiar app soon. Currently you can only stake with the Elrond wallet (link provided at the end of this post).
Maiar App
When first opening this app I noticed how clean and clear it looked. It’s a really nice looking app and easy enough to navigate through.
Registering was easy. You only need your phone number, no username or password required (you can read more about their process of progressive security directly from their website). You create a recovery phrase, which is your private key, with an option to back it up on the cloud.
You can send money from your mobile directly to anyone. If you don’t want to share your phone number or may not know the number of your recipient, you can use their herotag. Herotags are special usernames powered by the Elrond blockchain.
One thing my husband and I really like about this wallet is that it’s decentralised and non-custodial. They never store or have access to our funds. We the users own our private keys and have full control over the funds.
Maiar app is free to download and use and has ridiculously low (which I’m not complaining, this is amazing) transaction fees as low as $0.001. Crazy right? On top of that you can send low amounts. My brother practiced on me and literally sent me a penny through the app. That’s right, he sent me just $.01.
Oh and the transactions are soooo fast, almost instantly! They are bringing a 1000x improvement in blockchain speed, scale and cost.
You can unlock stickers as you use the app too. I thought this was a fun and interactive addition to have...
The last cool thing about this app I’ll mention is that it supports other digital currencies with more to be added in the future eg. Bitcoin. The current supported currencies are Binance (BNB) and Ethereum (ETH).
I hope I was able to shed some good light about the Elrond Network, it’s Maiar app and what they are planning to achieve. There is so much more but that’s where your own research comes in. 😉
If you do download the Maiar app they have an opportunity for you to receive $10 in eGLD on your first purchase of $200 of eGLD...
If you use my referral link I will get commission on all purchases from my referrals for one year...
Here is my referral link...
https://get.maiar.com/referral/htfzg9q5zn
If you decide to use it great! If not, still great. I’m just happy to pass along what I feel will yield great returns in the near future.
You are not obligated to use my referral link what’s so ever. I put it here as an option for you to use in order for us both to get rewards. 🤓
Helpful links:
Elrond
Maiar
Elrond Wallet