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What is TrumpCoin?

Jun 19, 2017 AltcoinsInsightsResearch 0

What Is TrumpCoin?

TrumpCoin is a coin created to support the 45th president of the United States, Donald J Trump. The coin’s premise is a digital currency platform to support investor driven donations, causes, and projects. It aims to integrate itself into Donald J. Trump’s agenda and aid in funding projects domestically and worldwide. The coin has been gaining value due to the increased awareness and demand created through Trump’s marketing initiatives and campaigns. All investor profits will be sent to Trump’s campaign as donations, “for the betterment of all mankind.”

TrumpCoin as of June 30 12:07AM UTC-05:00 is trading at $0.069 USD, it had its initial run up when Donald Trump was inaugurated as U.S. President on January 2017. However, when the news came out that Russia potentially had an influence on the election results along with many other allegations against Trump, the price of the coin dropped back to previous lows.

Former presidential candidate, Hillary Clinton, also has a coin on the digital currency platform but its initiative in becoming a valuable coin swiftly fell short. The coins only chance to salvage itself was for Hillary to win the Presidency. As you can see from the charts below, the coin’s success was based on the success of the presidential candidate. Trump being the winner from the two, TrumpCoin had observed an increase in value compared to ClintonCoin. However, as Trump’s approval rating started to decrease after he was elected TrumpCoin started to lose value and became stagnant. Point being is that in my opinion, TrumpCoin is headed nowhere and it is currently stuck in limbo.

What if Trump gets impeached?

If Trump gets impeached, the coin would cease to exist. The purpose of the coin is to raise funding for Trump’s projects and if he were to get impeached, there will not be use cases for the coin. Bookmakers have already experienced an influx of bets that Trump will depart early from office. The odds below from Bet365 illustrate that Trump getting impeached is favoured:

  • Moneyline odds: -125
  • Decimal odds: 1.8

The above odds state that a $100 bet would return a profit of $80, receiving a lesser amount than the original stake in the bet.

My advice would be to stay away from investing in a coin that is directly tied to the president’s success in the office. Unfortunately, exchanges don’t offer a short position for the TrumpCoin, which would create an opportunity to profit if Trump gets impeached. For those interested in investing in TrumpCoin, it’s available for purchase on the following exchanges: Yobit, C-cex, Livecoin and Cryptopia.

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Davit K

Davit is a corporate development professional at one of Canada's largest FinTech companies, responsible for strategic planning and execution of M&A transactions. He spends his free time traveling and writing about new developments in blockchain and crypto currency world.

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