In this post, we will be answering the question, What are DeSo Creator Coins? We will also discuss how they work and what you can do with creator coins.
What Are DeSo Creator Coins?
Every profile on DeSo gets its own coin that anybody can buy and sell. They call these coins “creator coins,” You can have your coin too simply by creating a profile. The price of each coin goes up when people buy and goes down when people sell. The creator coins work just like regular cryptocurrencies for the most part.
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DeSo Creator Coin Basics
How Many Personal Creator Coins Should I Buy?
The exact quantity will depend on your strategy and the type of account you plan to run. Regardless of the account type, I suggest that you always buy a minimum of three coins.
If you plan to mint DeSo NFTs from your account or are a very social person, You will want to buy even more of your coin. They are great for giveaways to attract a more robust user base and get more involved in your project.
What is FR?
FR I the creator coin founder’s reward. The founder’s reward is the percentage of the purchase you get when others purchase your coin. When you start, your FR is set to 100%. After you buy the number of coins, you want you can lower the FR to let other investors purchase your creator coin. It is suggested to keep your founders reward between 10% and 15%.
Can I Make Money From my Creator Coin?
It is typically frowned upon when you sell your coin. That being said, it’s not a good profit center for you. At least not in the standard investment process.
Suppose you want to make money on your creator coin; you still can. You have to work it a different way. You will need to set up alternate accounts and use these to buy some of your coins to sell them later.
For Additional Information on DeSo Check Out – FAQ and Top Need To Know Info About DeSo – Crypto Bite