- 17 Feb, 23
What is Hamster Coin (HAM)? First Meme Coin on the BNB Chain
Throughout history, there have been meme coins that have attracted attention with their sudden rise and then disappeared by experiencing crashes. Essentially, these assets do not gain value from fundamental values like large cryptocurrencies such as Bitcoin. Therefore, they have even more volatility than normal cryptocurrencies. They also take advantage of popular internet jokes. Hamster Coin (HAM) is also among these joke-based assets.
One of the biggest developments of 2021 was undoubtedly witnessing the rise of meme coins. Dogecoin and subsequently Shiba Inu managed to significantly expand the investor base. These projects derived from an internet joke and did not provide users with any specific benefits. However, important figures such as Elon Musk and Jack Dorsey supported them. Hamster, the first decentralised meme coin on the BNB Chain, was also one of the talked about and trending coins in 2021. In this article by Zatrun.com, you can find more about the project.
Table of Contents
What is Hamster Coin?
Hamster Coin (HAM) is a decentralised platform that provides its users with a way to generate passive income. This platform is the first meme coin that is fully decentralised and built on the BNB Chain blockchain. The asset was released to create a broad cryptocurrency ecosystem that will be applied in different parts of the industry, including the security of online transactions. It drew attention by integrating the use of an online ledger system that serves to be used in the blockchain ecosystem.
As a decentralised system, Hamster Coin is independent of any single authority or government regulations. This allows all transactions performed on the network to be audited by participants. The platform focuses on communication, trust, transparency, and community. The cryptocurrency gained strong supporters by enabling users to benefit from these features. Technology billionaire Elon Musk and Twitter founder Jack Dorsey tweeted about Hamster in 2021 to show their support. These factors allowed the token to gain investors in the market and grow faster than expected.
How does Hamster (HAM) work?
Hamster Coin serves the same purposes as existing widely used cryptocurrencies. However, the use of Hamster does not seem to be dependent on a specific purpose. Accordingly, the asset serves the purpose of being an investment mechanism that users can grow their money in the long run. HAM coin stands out as the platform’s special cryptocurrency and enables transactions to be executed within the ecosystem. The platform rewards users who trade with this cryptocurrency.
Although Hamster resembles Dogecoin and Shiba Inu in many ways, it also has a different set of features. The asset ensures that transactions are executed on a secure blockchain platform in a transparent manner. Moreover, it is among the best options for those who want to make a profit by investing in cryptocurrencies. Additionally, you can increase your returns in DeFi by trading it with other currencies such as AAVE.
What is the HAM Price? Is It a Good Investment?
Hamster Coin’s system is essentially a cash collection protocol. However, HAM operates on a pyramid scheme where early parties are entitled to the highest percentage of token supply. The asset has a maximum supply limited to 10 quadrillion units, which means there will be a lot of this cryptocurrency in circulation, with a significant portion of tokens held by the community.
Currently, the meme coin has a unit price of 0.0000000015 dollars, which is well below its all-time high reached in November 2021. However, the project has a token burning mechanism, which could decrease the circulating supply and potentially raise the price.
Hamster Coin was launched on the BNB Chain, but there is no information about the project’s founders. Additionally, the cryptocurrency has fallen significantly from the high levels it saw in 2021, even with the support of Elon Musk. Although HAM has its advantages, such as the token burning mechanism and high yield, the community is crucial for a meme coin. While it is possible to make money by investing in meme coins, these investments are quite risky since these assets are aimless and more volatile than established cryptocurrencies.
Investing in something like Hamster can be suitable for making big gains in the short term. Investing in less volatile cryptocurrencies with growth potential is safer. Therefore, if you decide to invest in HAM, you need to be aware of the risks and invest accordingly. You should do your research before making any investment.