It has been less than 6 months, but the Orchid crypto token has made its way into cryptocurrency headlines. Launched in December 2019 from Orchid Labs, this new crypto token is Ethereum compliant. As a means to exchange value within the Orchid network, users can purchase bandwidth with the Orchid crypto (OXT). Those providing nodes also receive OXT in exchange for their services.
Who are Orchid Labs?
Orchid Labs was launched in 2017 and are committed to cybersecurity by helping to minimize censorship and online surveillance. They have head offices in the San Francisco Bay area as well as the West Coast and Western USA. Specializing in software solutions for a blockchain-based decentralized network, they aim to provide safe bandwidth options for users. Serving clients in The United States and Germany, Orchid Labs has now recently entered the cryptocurrency market with Orchid crypto.
What is the Orchid Crypto?
The Orchid crypto token is a new digital currency just released from Orchid Labs in December 2019. As an Ethereum compliant token, it can be found on many digital exchanges currently, including:
• Bittrex Global
When launched the Orchid crypto token was listed for a high of $0.55 USD, but consequently falling 50% in price. It has since moved slightly and leveled out but remains to struggle in the fluctuating markets. At the time of writing, the token was sitting at $0.198 USD.
The Future of the Orchid Token
The world of cryptocurrencies changes daily with new tokens being introduced on many levels, including the Orchid crypto token. Prevalent in the digital currency news headlines, many investors speculate how this new token will fare in the future. Steven Waterhouse, the CEO of Orchid, has remarked that he is not concerned with the current decreased prices of OXT. He informs investors that his main focus is on how the Orchid crypto reacts long-term and not the immediate market results.
Waterhouse has explained that this digital currency was 2 years in the making to provide users with a reliable option. The ability to utilize its own token on the Orchid network gives users a free market trade choice for bandwidth. For the Orchid team, the Orchid crypto is just what they were looking for in a new cryptocurrency opportunity.
Is the Orchid (OXT) a Good Investment Choice?
The question of obtaining the Orchid token as an investment choice is on everyone’s mind lately. New cryptocurrencies come into play every day, and currently, there are approximately 5,392 digital currencies available for trading online today. Choosing ones for your own portfolio can be a daunting task if you are unsure about the selections.
Obtaining the Orchid crypto for your digital wallet can be a good choice if you are interested in long-term investment. New digital currencies will need time to be active on the market to situate themselves accordingly, the Orchid token included. Orchid will not give you a get-rich-quick solution but rather an investment that you can count on later on. The choice to obtain these digital tokens now with low prices could be the best decision for your portfolio.
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