What is JasmyCoin (JASMY)? All You Need to Know

JasmyCoin (JASMY) is the native cryptocurrency of the Jasmy project, which aims to address users’ data security concerns. The Jasmy project was created to protect users’ data and privacy in a secure and innovative way.

This article will provide you with everything you need to know about JasmyCoin. It includes a detailed, step-by-step guide on how to buy the token and answers to frequently asked questions about the project.

Whether you’re an experienced crypto user just curious about JASMY or new to learning about cryptocurrencies, this article is for you.

What is JasmyCoin?

JasmyCoin, or JASMY, is an ERC-20 utility token that powers all activities within the Jasmy ecosystem. The Jasmy project was built on the Ethereum blockchain due to the network’s security, popularity, and capability to support decentralized applications (dApps).

Why was the Jasmy project created? Jasmy was created to provide a system where users control their data without compromising privacy. It achieves this by combining blockchain technology with the Internet of Things (IoT) to offer a decentralized system for individuals. Additionally, the Jasmy project enables users to monetize or exchange their data on their terms.

Launched in 2021, JasmyCoin has its roots in Japan. The Jasmy project was founded by four Japanese developers: Kunitake Ando, Kazumasa Sato, Masanobu Yoshida, and Hiroshi Harada. 

The cryptocurrency was initially launched for trading on the Japanese exchange BITPoint Japan, and many of its capital investors are Japanese. Due to these reasons, JasmyCoin is often called “Japan’s Bitcoin.”

JasmyCoin has a maximum supply of 50 billion tokens. When first launched, its value was a little over $1, and it even reached an all-time high of more than $4 in February 2021. However, by the end of that year, its price dropped significantly. Despite this, many Japanese capital investors continue to show interest in investing in JASMY.

Investors can use JasmyCoin to pay for network services when transferring their tokens from one address to another. Additionally, JASMY can be used as a means of payment when individuals decide to supply their data in exchange for tokens.

How to Buy JasmyCoin

You can buy JASMY on any crypto exchange that supports the digital asset. When reviewing your options, consider an exchange that suits your needs as a trader, investor, or user.

Below is a step-by-step guide on how to buy JasmyCoin on Binance, the world’s largest crypto exchange.

1. Create an Account: If you do not already have an account on Binance, you will need to sign up. Here’s how:

• Sign Up: Visit the Binance platform via the mobile app and click the sign-up button. Enter your email address or phone number and follow the instructions. Then, set a strong password. This completes your account creation. However, you are required to complete a know-your-customer procedure to start trading on Binance. 

• You can skip this step and log into your account if you are already a Binance user.

2. Make a Deposit: To buy JasmyCoin, you need to deposit funds into your Binance account. You can fund your account with stablecoins like USDT from an external crypto wallet. Binance lets users from selected regions purchase USDT using credit/debit cards. 

3. Convert Your Funds: Convert your USDT to JASMY by following these steps:

• Click on “Trade” at the bottom of your Binance trading app, then select “Convert.”

• Choose the crypto assets you want for the transaction (USDT and JASMY) and the amount of JASMY you wish to buy.

4. Store Your JasmyCoin: After confirming the purchase, your JasmyCoins will be credited to your Binance account. You can store them on Binance or move them to an external wallet. Many user-friendly crypto wallets support JasmyCoin, so be sure to do thorough research before choosing where to store your tokens.

Note: Many other cryptocurrency exchanges support JasmyCoin. While the steps to buy the token on different exchanges may vary slightly, they are generally similar. The information here should be helpful even if you buy JasmyCoin on another platform. Following these steps, you can buy your tokens with little to no hassle.

Frequently Asked Questions

This section provides answers to some frequently asked questions about JasmyCoin.

Is JasmyCoin a Good Investment?

Tokens with a limited supply have the potential to become scarce and may experience a significant increase in market value over time. JasmyCoin is no exception, as its total supply is limited.

However, due to the high volatility and unpredictability of the crypto market, it is challenging to state definitively that any crypto asset is a good investment. Therefore, before investing in JASMY, make sure to conduct thorough research.

Remember, the golden rule of investing is to only invest money you are prepared to lose. In other words, do not invest more than you can afford to lose.

Where to Trade JasmyCoin?

You can trade JasmyCoin on any platform that supports the token. Some popular crypto exchanges for trading JasmyCoin include Binance, CoinEx, Bybit, Kraken, and KuCoin.

Where Do I Store My JasmyCoin?

The best way to store your crypto assets is by using a crypto wallet. There are two types of wallets: hot wallets, which are connected to the internet, and cold wallets, which are offline.

You can store your JASMY tokens in any crypto wallet that supports ERC-20 assets. There are many options available, so be sure to thoroughly research their security measures and other important features before making a decision.

How Many Exchanges is JasmyCoin On?

JasmyCoin is currently trading on more than 40 crypto exchanges. These platforms let users trade JASMY with fiat currencies, such as USD, or stablecoins, such as USDT.

Conclusion

JasmyCoin stands out as a native cryptocurrency that addresses critical data security and privacy concerns in the digital age. Rooted in Japan and powered by the robust Ethereum blockchain, the Jasmy project combines blockchain technology with the Internet of Things (IoT) to offer a decentralized data management system.

With a limited supply and growing interest from investors, JASMY presents intriguing opportunities, although it’s essential to approach any investment with thorough research and caution. Whether you’re looking to trade, invest, or explore the world of JasmyCoin, this guide provides the foundational knowledge and practical steps to get started.