What is HBCU crypto and is it safe?

Highlights

• The Squid Game crypto was later found to be an elaborate scam, a typical pump and dump
• Bitcoin rose from nowhere to a place where leading indices and ETFs track its price movement
• The HBCU crypto is new, with the focus entirely on African-American community members

The answer to “is crypto safe?” can be open ended. Moreover, it can be answered better on a case-by-case basis. Bitcoin has emerged as a formidable power, thanks to developments like Bitcoin ETFs in the US and Canada, and the S&P Bitcoin Index. Australia also has cryptocurrency ETFs.

In contrast to this, some cryptos like the Squid Game token collapsed within no time after their rise. In November last year, the Squid Game crypto first rose steeply and then lost all its value. It is regularly viewed as one of those crypto scams that thrive on the popularity of some other subject matter.

Now, amid a gloomy phase in the cryptoverse, an asset named the HBCU crypto is gaining traction. Let’s explore more details.

What is HBCU crypto?

Not listed on price comparison websites like CoinMarketCap or any major exchange like Binance, the HBCU crypto is targeted toward HBCUs. For the unversed, HBCU is the short form of Historically Black Colleges and Universities.

A website about the HBCU coin is live, which talks about decentralisation and fairness. It suggests an app also exists, available both on iOS and Android. The HBCU token can be earned, it is said, by becoming a community member on the app. Referrals and bringing more people on board can help earn extra HBCU coins.

The major focus of the website is on highlighting how the HBCU coin can benefit African Americans. It claims to launch in phases, with an eventual target of 100 million users.

HBCU crypto price data

The crypto is yet to be listed on any prominent website like CoinMarketCap, which is why reliable price data is not available. One of the tweets by the HBCU crypto team claims that it had bought land in Colorado to build a “solar crypto farm”.

The presale of the HBCU coin was also conducted earlier this year. However, since it is not yet listed on a major exchange, trading data is unavailable.

Is HBCU token safe?

The crypto is relatively new, with not much light shone on what the project intends to do and what is the roadmap to achieve it. Even though it is projecting itself as crypto for African Americans, how the community members will benefit by investing in it is not clear.

That said, things might become a little more clear if the HBCU makes some price-tracking website. This can reveal the trading price and volume of the crypto. Meanwhile, major cryptocurrencies are not performing well this year, with Bitcoin under huge stress.

Data provided by CoinMarketCap.com

Bottom line

The HBCU crypto is new, with no data on price and volume available on any major platform like CoinMarketCap. The project appears to be focusing on African Americans. How it fares in the medium-to-long term is a subject of speculation.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.