With the rise in the demand for cryptocurrency, there are a lot of digital coins to choose from. Ontology is one of the more widely used cryptocurrencies in the world, allows you to easily transfer value around the world fast.
Introduction
Ontology is relatively a new blockchain platform for the public at large. It has its own digital currency under the name of Ontology coin (ONT). The Ontology platform was started in 2017 by a team of experts, Erik Zhang, Jun Li, and Da HongFei of a Chinese company called OnChain. Apart from this blockchain project, OnChain company has also founded the NEO blockchain. The Ontology project is recognized as a high-performance public multi-chain project as well as an allocated trust alliance platform. The blockchain platform permits companies with less or zero knowledge of cryptocurrencies to assimilate blockchain technology into their own existing business system.
The Ontology blockchain platform mainly facilitates two coins – ‘Ontology coin’ or ‘ONT’ and the ‘Ontology Gas token’ also widely known as ‘ONG’ token. ONG token was introduced in 2018 along with the launch of the Ontology MainNet, which acts as a kind of reward to consumers for adding value to the platform.
Steps about how to buy Ontology Coin
Buying an Ontology Coin is the same as buying any other cryptocurrency and trading it. However, there are few steps following which an individual or institution can buy Ontology Coin, and these steps are as follows:
Step 1-: To find, register, and get a reliable as well as a suitable crypto wallet. Few examples of such crypto wallets are OWallet, Infinito Wallet, Clay Wallet, and so on.
Step 2-: Then find and choose a crypto trading exchange such as Binance or Changelly and so on, where you can buy, sell, and trade ONT coin.
Step 3-: The next step is to find a broker such as eToro or Plus500 and so on, who can deal on your behalf with transactions pertaining to ONT coin.
Step 4-: Next is to deposit fiat money in your crypto wallet.
Step 5-: Then the next step is to decide the way or method through which one wants to trade, such as Spread Betting and Contracts for Difference (CFDs).
Step 6-: Finally, after going through all above – mentioned steps, one can start buying, selling, and trading ONT Coin.
Pros and Cons of Buying the ONT Coin
Pros:
- Strong founder base and support of NEO blockchain and OnChain.
- Talented and expert team of people working with the ONT Coin.
- ONT Coin trading businesses are easy and simple to understand and start.
- Boundless market and user potential.
- The link between real and virtual
- Possess a unique VBFT consensus model.
- Ideal and prospective businesses opportunity.
Cons:
- Country of origin may hinder progress.
- The Chinese government has strict anti – cryptocurrency rules and regulations.
- Ontology is quite lacking compared to NEO.
Ontology Coin Price History and Prediction
Since its beginnings, ONT Coin has been rising continuously. The price of the coin has also been moving at quite a good pace. However, the ONT Coin had a price drop in the middle of 2019. But after that, the price again spiked to about USD 1.80. As of today, the price is approximately USD 2 per coin. According to experts and forecasters, the ONT Coin price is going to increase, and it will become a good investment option. Analysts have predicted its price to reach the US $2 to US $3 by December 2021. Further, price predictions of the coin are somewhere between USD 5 to USD 7 in 2022 – 2023. ONT’s price is also predicted to scale up to even USD 9 or USD 10 due to technological developments. As per the price and market analyst, the Ontology price forecast is said to increase five times its current price in the next five to six years. Click here to know more about detailed ONT price prediction.
Conclusion
Ontology’s cryptocurrency named ONT Coin is a blockchain technology-based digital token formed on the proof – of – stake concept and which is designed to assist other businesses to use as well as integrate blockchain technology in their business system by providing various tools on its platforms such as identity verification, data exchange, and others. The Ontology network permits users to alter public blockchains as per their convenience for various types of apps to benefit most out of the blockchain technology. ONT Coin has many advantages at the same time has few disadvantages as well, despite these, it is doing quite well in the investment market. Now, coming to the growth and future of the said crypto coin, it is being predicted that the price of the ONT coin is expected to rise five folds from as on date. This makes it a viable investment option to look out for.
