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What is Gecoin (GEC), and How Does it Work?

What is Gecoin (GEC), and How Does it Work?

Have you heard about Gecoin yet? If not, we are here to introduce you to its main utility features and investment potential.

The Gecoin Geco. one cryptocurrency derivatives exchange uses the GEC utility token. This exchange was launched in August 2020 and is registered in Estonia. Geco One OÜ is recognized as a Founding Member of the Polish-Estonian Chamber of Commerce.

Users of the exchange can access the most popular cryptocurrency pairs and trade them using BTC, ETH, GEC, and USDT as collateral. The exchange provides all the necessary professional tools for a smooth trading experience.

Gecoin, the token used on the platform, is based on the Ethereum network, which is widely accepted in the cryptocurrency industry. The total supply of GEC is limited to 173,105,106 tokens, and it follows a deflationary tokenomics model. To reduce the total supply to less than 50% of the initial amount (80 million GEC), burning events will take place every 3 months.

GEC Price Statistics

Gecoin Price $0.060319
Market cap
24 hours Low / 24h High $0.059462 / $0.060913
7d Low / 7d High $0.02549907 / $0.062359
Trading Volume $349
All-Time High $0.281795 -78.58%
May 26, 2022 (about 1 year)
All-Time Low $0.02547893 136.92%
Aug 21, 2023 (3 days)

Gecoin’s main utility features

Starting in January 2022, customers of the Geco. One cryptocurrency derivatives platform will have the option to purchase a monthly subscription using GEC tokens. This subscription will grant them access to a range of additional features, including:

1. REDUCED TRANSACTION FEES

Users will enjoy a 20% discount on all transaction fees, resulting in a decrease in the default fee from 0.04% to 0.032%.

2. STAKING

By participating in the staking feature, individuals can generate passive income by locking up their funds for a specific period. This can be done using four different cryptocurrencies: BTC, ETH, USDT, and GEC. Users have the potential to earn up to 8% through this staking process.

3. GEC TRADING ON GECO.ONE

In addition to the aforementioned features, individuals who hold GEC tokens will now be able to utilize them for trading on the Geco.one platform, alongside BTC, ETH, and USDT. The ability to trade GEC tokens on external exchanges will commence on January 21, 2022.

How long can you keep an open position for on Geco.one?

Your position can remain open as long as your available margin does not reach 0%. However, it is important to note that a SWAP fee of 0.01% will be applied every 8 hours.

All deposits are processed on the Bitcoin (BTC) blockchain and require three block confirmations, which usually takes around 20 minutes. The time may vary depending on the congestion of the Bitcoin network during your transaction.

Geco.one is committed to ensuring that all customers can benefit from holding crypto through the staking feature offered at app.geco.one.

To take advantage of this, all you need to do is purchase a monthly subscription worth 5 GEC. This will give you access to staking and provide you with the necessary tools to earn passive income in your preferred currency.

There are four different plans to choose from, ranging from 30 to 360 days.If you decide to freeze your coins for 360 days, your reward will be 8% in the chosen currency.

Take advantage of the downturn in the market and make use of staking to maximize your gains. Staking refers to the act of keeping a specific amount of tokens in a digital wallet for a cryptocurrency and employing them to assist the functioning of a blockchain network. As a result of staking their tokens, users are frequently rewarded with new tokens or transaction fees.

The post What is Gecoin (GEC), and How Does it Work? appeared first on FinanceBrokerage.

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