Despite a 68.75% drop in share price (according to data from NASDAQ), Tesla Inc. remains in the top 10 largest by market cap. The inventiveness of Elon Musk is limitless. At age 51, the world’s most famous entrepreneur is succeeding in every endeavour he undertakes: he plans to launch satellites, buy Twitter, and travel to Mars. He is also storming the cryptocurrency market, but not just through tweets.
By launching the Tesla Coin, Tesla will be the first major corporation to enter the cryptocurrency market, which could lead to significant growth and new opportunities for the company.
A Quick Overview of the Tesla Coin Project
Tesla, Inc., a global leader in the design, development, and production of electric vehicles, is the issuer of the Tesla Coin cryptocurrency. There are currently a lot of issues at Tesla Inc.
In 2022, 48 manufacturers (including Audi, BMW, Lucid, Mercedes-Benz, Polestar, and others) were present in the United States, the birthplace of Tesla, and that number is expected to rise to over 150 by 2025. But the company’s sales are booming; in the first three quarters of 2022, Tesla manufactured 908,000 automobiles (compared to 935 thousand in 2021).
Competition was rising, so the company’s leadership made a bold move by entering the cryptocurrency market. Since Tesla Inc. is the only player in that space, it will receive all the “sweeteners” that come with digitalization. In addition, this would unlock previously inaccessible markets, such as China, which would now be able to purchase the highly sought-after Teslas using cryptocurrency and thus avoid all economic sanctions.
Tesla Coin (Token): How Does It Operate?
Tesla Coin’s working model is straightforward: an investor or trader purchases TES coins with either fiat currency or another cryptocurrency, and then can choose to either hold onto them in the hopes that their value will increase or to immediately put them to use in the cryptocurrency market.
When you deposit tokens into the platform’s treasury, they are instantly convertible into Tesla Coin (TES) and usable for trading. The coin has multiplied in value since its release, and with Tesla’s backing, its future is bright. Even though Elon Musk had nothing to do with Dogecoin, everyone remembers what happened when he brought attention to it.
The Rise of Tesla Coin in the Cryptocurrency Industry
Bearish cycles are normal, as history shows, and while 2022 will go down as one of the worst years for the cryptocurrency market, the sector’s capitalization has fallen by almost 70% (from $2.2 trillion to $800 billion). If Tesla Coin lives up to its hype, it will cause a genuine market revolution by luring stock market companies into the cryptocurrency space, where they will fuel explosive expansion. The cryptocurrency market’s all-time high was revised multiple times in 2021 after the introduction of institutional investors. Now, a situation like that is feasible.
In what markets can one buy or sell Tesla Coin?
Tesla Coin (TES) can be purchased with Bitcoin, Ethereum, Litecoin, Ripple, and other cryptocurrencies stored in a trader’s Tesla Coin platform account balance. Users gain not only from trading but also from the market potential growth of the coin. The token is currently listed on the Crypto Bridge and Nova Exchange exchanges (July 2022), in addition to the Tesla Coin trading platform.
Within the Team
Tesla Coin is a digital currency that was developed by Elon Musk himself. The billionaire hopes to streamline the process of making financial transactions. Users will soon be able to spend TES coins on any Tesla model.
How Much Money Can You Make Trading Tesla Coins?
There are a lot of variables that affect how much money you make, such as how much money you put in at the beginning, what trading features and settings you use, etc.
Since no one can predict how high the value of a revolutionary coin will soar, the investment potential of the coin is practically boundless. Five, ten, or even one hundred times the initial investment is possible with TES. The same name trading platform also provides a trading option.
It is estimated that 80% of trades made on the site will be profitable (automatic trading). This means that eight out of every ten trading signals are reliable. In any case, the trader comes out ahead. The site requires a minimum deposit of $250 (or currency equivalent). Successful Tesla Coin traders can reportedly make $2,500 per day, per company reports. Traders who put up the minimum of $250 can expect to earn $50 per day (or $6,000 per month).