What is LCX coin and why is it gaining traction?

Published on July 19, 2022 11:23 AM EDT

What is LCX coin and why is it gaining traction? — Image source: © Bravissimos | Megapixl.com

Highlights

The LCX coin is the native token of Liechtenstein Cryptoassets Exchange (LCX).

According to its official website, the LCX Token powers the LCX Cryptocurrency Exchange.

All fees related to the services provided by LCX AG may be paid using the exchange-based LCX Token.

Amid a rising crypto market, LCX crypto was gaining little traction among crypto enthusiasts after it took Twitter and explained in detail its parent company and the motive behind the virtual currency.

At the time of writing, the LCX coin was up by 2.2 per cent to US$ 0.07468 per token, and its trading volume was up by 9.4 per cent to US$ 878,679.

What is an LCX coin?

The LCX coin is the native token of Liechtenstein Cryptoassets Exchange (LCX), established in 2018 and has a global presence.

LCX claims to have introduced a full crypto compliance suite and has eight registrations for cryptocurrencies with the Financial Market Authority Liechtenstein. The company that owns LCX.com, LCX AG, has a registered share capital of 1,000,000 CHF, according to CoinMarketCap.

According to its official website, the LCX Token powers the LCX Cryptocurrency Exchange and the LCX.com blockchain platform. It claims to serve as a long-term, sustainable incentive scheme that encourages involvement in the ecosystem from various stakeholders.

All fees related to the services provided by LCX AG may be paid using the exchange-based LCX Token. It can be used as a voucher to pay fees, including subscription fees for the LCX Terminal, and fees for the LCX Vault's custodian services.

Bottom line

LCX crypto took to Twitter on July 19 and provided reasons to crypto enthusiasts why they should invest in the LCX coin. The virtual currency could be gaining traction due to the claims made by the project. However, investors must stay alert.

Many digital asset projects have turned out to be scams after making tall claims. Hence, crypto enthusiasts need to examine relevant details of a virtual currency project.

Assessing the risk-capacity is also important before buying digital currencies.

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Raza Naqvi

Author

Raza Naqvi - Financial Journalist
998 Posts
Raza comes from a hard-news background and is an experienced writer with a demonstrated history of working in reputed organizations like the United Nations, Indian Express, and Hindustan Times. Currently, he is exploring the financial world!...

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