Newcomers to the cryptocurrency market are easily confused when they hear the mention of “Gem coin”. In today’s article, we will learn the basic information and know how to distinguish this term.
1 – What is Gem coin? Terminology in the crypto market
“Coin” is the common name for cryptocurrencies. So the term “Gem coin” refers to the coins / tokens that have the potential to increase sharply in the future.
Professional investors with a lot of experience will analyze the list of coins with the potential to increase sharply in the future. They will buy it when the price is low, wait for the price to increase, they will sell it to make a profit. Thus, that list of potential coins they call “Gem coin”.
2 – What is “Gems token (GEM)” in Gems project?
It is often very easy for newcomers to the crypto market to get confused. They will immediately think of Gem as a cryptocurrency of a certain project.
Actually, it’s not wrong to understand that. Because in the crypto market there is actually a cryptocurrency called GEM. But as of May 5, 2021 its essence is still a token, not a coin, as it still works on the Ethereum blockchain platform.
Some basic information of GEM Token:
Release date: February 2018.
Blockchain technology: using Ethereum’s blockchain platform.
Official website: gems.org.
Exchanges: Gate.io and Fatbtc.
3 – Distinguish Gem coin and Gems token
In short, when you hear the word “Gem coin” it means that the investment community is talking about a list of coins with potential to increase in price. These coins are at a low price, so buy them and wait for the price to increase and then sell them for a profit.
And when you hear about Gems (GEM) token, it means that the community is referring to the Gems project’s GEM token.