What is ElonGate cryptocurrency? And what is the price?

Elongate, the brand-new cryptocurrency, appears to have started as a joke. It’s also difficult to say if it has any ambitions other than being a meme. We’ve been told, as with so many other online forum-based investments, that it’s “heading to the moon.” Shouldn’t it, though, be going to Mars? Isn’t that what Elon Musk’s SpaceX strategy is all about?

Anyway, back to this latest altcoin that has piqued the interest of crypto enthusiasts.

The value of the Elongate cryptocurrency increased by over 1,000% in the first three days of its life. Those who were among the first to invest in this new altcoin were clearly ecstatic. Because of the rapid increase in value, each Elongate coin is now worth around $0.00000004045 USD. But, hey, any new cryptocurrency must begin somewhere, right?

In the spirit of roots, here’s the tweet that sparked the development of the new coin:

If you thought it was amusing and clever or not, few people would have predicted it would lead to the development of a new cryptocurrency. But that’s the way things are now. There’s a model for this kind of stuff… don’t forget about Dogecoin, the first meme-based cryptocurrency.

The Elongate coin, on the other hand, is executed differently. Dogecoin is inflationary by nature. That is to say, the number of coins in circulation has no upper limit. Approximately 10,000 Dogecoins are created every minute. This equates to about 5.2 billion dogecoins entering circulation per year. It’s doubtful that demand will keep up with supply at that pace.

The Elongate crypto, on the other hand, has already completed many token burns… This is achieved in order to decrease supply and boost demand. As a result, it’s clear that the creators of the Elongate cryptocurrency are taking a different path.

Elongate Crypto’s Intricacies
The official white paper for Elongate crypto has yet to be published. This is supposed to happen at the start of the second phase of this new cryptocurrency. The powers that be are currently attempting to gain support through alliances.

But what makes this coin special is its focus on philanthropy. Help for the United Nations World Food Programme, Action Against Hunger, and the Big Green Corporation is being planned. This project is linked to an NFT marketplace that will donate 80% of its profits to charity. That’s a lot of ambition for a coin that was primarily conceived as a joke.

These are ambitious plans for a team that appears to be tiny on the surface. Scalability would be challenging to accomplish when juggling all of the other goals that the Elongate crypto aspires to. Then there’s the picture it bears, of course.

So, You Want to Buy Some Elongate?

If you’ve ever invested in cryptos before, you know how difficult they can be. You can simply log in to your PayPal account and purchase cryptocurrency from the major crypto players. However, there are some drawbacks to this approach, which I discuss in detail in my PayPal crypto post.

However, this is just one way to invest in cryptocurrencies. There are a plethora of conveniently navigable places where you can pick up any cryptocurrency. Coinbase is one of our favourites. The eToro platform is also gaining traction, particularly in light of its recent IPO.

Newer, smaller coins, on the other hand, do not appear on the major exchanges right away. Those involved in purchasing Elongate crypto would have to go through some additional hoops for the time being. This is what it means…

To begin, you must first log in or build a Binance account. After that, exchange your dollars for BNB, which is the cryptocurrency used on the Binance site.

You’ll need a MetaMask Wallet for the next move. Withdraw the BNB you just bought and give it to your wallet. If you’ve never done this before, there are a couple of extra steps to take. To set it up, we followed the steps outlined here. Then go to Pancake Swap to exchange your BNB for the Elongate cryptocurrency.

Then you just sit back and wait for it to fly to the moon… or wherever it is you want it to go.

Thanks for reading.