Do you want to invest in ID Coin but don’t know where to start? Maybe you want to start investing in crypto and aren’t sure how to start? Or are you curious and want to know more? No matter the question that brought you here, I have the answer for you!
Finding out how to invest in ID Coin can be tricky, especially if you are new to the world of crypto.
It is easy to get lost in a sea of conflicting advice and information that leaves you unsure who to trust, where to turn, or how you can invest in ID Coin! Disappointed and frustrated, you begin to wonder if you will ever know how to invest in ID Coin or not.
Well, no more! That is where I come in. today, I am here to tell you how you can invest in ID Coin. Keep reading for a complete guide that will walk you through the entire process and help you start your crypto journey today.
What Is ID Coin?
Before I get started, let’s have a quick recap for those that need it. ID Coin is an idea that has been around for a few years now and will be a new identity system used in the US.
There isn’t much information out there, but people believe it will be based on blockchain technology, replacing social security cards. The idea is it will modernize data privacy and access while eradicating identity theft.
As blockchain technology is super versatile, governments are already storing sensitive data on it and are reportedly looking at ways it could be rolled out across the country.
At the moment, ID Coin has not been implemented. There are people already investing in ID Coin online, to make money once it takes off and is used across the country.
Now that I have briefly established what ID Coin is, let’s move on to see how you can invest in ID Coin and if you should.
How To Invest In ID Coin
Currently, there is no circulating supply of ID Coin. This is because it has not yet been released by the government. However, there are articles and sites online where you can invest in ID Coin.
The idea is that you get in now and when ID Coin takes off, you will be rich and have a hefty payout. As with all cryptocurrencies, there is no guarantee that you will see a return on any income.
You should also be very careful of parting with money on any site that does not seem legitimate.
I recommend that you try sites like Coinbase to purchase an ID Coin and invest in this way, rather than a start-up, especially if the website is not secure or you have had to scroll for hours to find it (never a good sign).
I recommend that you purchase ID Coin through Coinbase. You will need an ID document or proof of your phone number. It can take a while for ID verification to go through, so you might want to use a different address with a hierarchical deterministic wallet.
You can also purchase ID Coin without ID, but doing so can be tricky. A lot of exchanges require ID to verify your purchase. In busy periods it can take a while to get verified, but it’s the easiest way to purchase it.
Plus, if you try and purchase any crypto without ID you are usually charged a higher premium and there are more risks. It’s best to do some research beforehand to ensure you are making the right choice for yourself.
Should I Invest In ID Coin?
Given that ID Coin doesn’t really exist yet, you might be wondering if it is the correct investment to make. In truth, there isn’t one easy answer to give here. Yes, there is a massive risk in putting any money into ID Coin.
After all, the government has been toying with this idea for years, there is no guarantee they will move forward with it. You also run the risk of being scammed or investing in the wrong coin, as there are others out there with a similar name.
But there is also a chance that it will work. We haven’t heard much about ID Coin recently, but that doesn’t mean the idea has been abandoned.
And if you did invest now, there is a chance (however slim) that you could see a massive return. Think about it, if everyone was using an ID Coin, there would be lots of opportunities to trade.
It’s a tough call to make, and ultimately, one only you can make. ID Coin is very much in its infancy. You could wait to see if there are more developments before you decide to invest, or you could invest a small amount of money into ID Coin on Coinbase.
If you do so, I recommend that you only invest money you can do without if you end up losing it. In this case, there isn’t much harm in waiting that I can see!
And there you have it! ID Coin is not a cryptocurrency as such, but perhaps the future of identification and data protection.
It is unclear whether ID Coin will become standard across the country yet, but many people are still investing with the hopes of seeing a big return.
I recommend that you do plenty of research before parting with your money and perhaps hold off until we hear more about the government’s plans.
Frequently Asked Questions
Before you leave today, check out my brief FAQ section to get the answers to your last-minute questions!
Is ID Coin Crypto?
Technically, no. Although it uses blockchain technology, ID Coin would not be cryptocurrency as such. Instead, it would be an identification system used instead of social security cards or numbers.
Is ID Coin Here Yet?
No, ID Coin is currently not available. Although you can invest, there isn’t a circulating supply of ID Coin.
Paul Martinez is the founder of BendingDestiny.com. He is an expert in the areas of finance, real estate, and eCommerce.
Join him on BendingDestiny.com to learn how to improve your financial life and excel in these areas. Before starting this blog, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.