Something that everyone dreams of when getting involved with cryptocurrency is to find that one cryptocurrency that they can purchase for almost nothing, and then eventually sell it for big amounts of money once it rises in popularity. The term “mooning” is strongly related to this dream, as it is the event when the cryptocurrency is on the rise, or as people would say “It is going to the moon!”.
Where did the term come from?
The origin of this term and concept can be traced to 2017 when Bitcoin started surging in value. While it was worth around $1000 for quite a while, it suddenly “went to the moon” by jumping in value to almost $20,000 in a very short time. It was the first time that Bitcoin mooned, and we all know that it happened once again a bit later when its value jumped to over $60,000.
How do cryptocurrencies gain value?
If you are interested in the mooning phenomenon, then you are probably wondering, how do cryptocurrencies even gain that sudden value? Well, the answer to that is very simple. Just like in the regular stock market, it is all about supply and demand.
The more people are interested in a certain cryptocurrency the more it is going to be worth since after all, it does come in limited numbers. This is especially the case today, with the introduction of NFTs and NFT games, as they are basically a part of a blockchain on a certain cryptocurrency and so represent a certain amount of supply. What we are saying is that the monkey with a hat as an image is not worth that much, but its true identity behind it, as it could be worth who knows how much cryptocurrency.
What is moons crypto?
We have to admit, that one of the cleverest names one could come up for a coin, is the Moons cryptocurrency, better known as r/CryptoCurrencyMoons. This is one of the most interesting ideas and concepts in the world of crypto, as it is a part of a very popular platform called Reddit.
There are quite a lot of Reddit crypto sections, aka. subreddit, but the most popular one is the one we mentioned earlier r/CryptocurrencyMoons. MOON is the official cryptocurrency of that subreddit, and basically, anyone who contributes to that subreddit can earn themselves some MOON coins.
Reddit MOONs and RCP (Reddit Community Points) are actually ERC-20 tokens, which means that they are interoperable with various Ethereum-based cryptocurrencies. The reason why a lot of people like the idea of MOONs on Reddit is because they are untraceable, just like RCP.
How can you get MOONs?
You might actually be surprised how easy it is to earn MOON crypto on the Reddit platform. The easiest way to do it is to generate Reddit karma, which is to basically post quality content or leave comments that are getting a lot of upvotes from the community. Users can also simply give you MOONs as a tip if they feel like it.
In order to track how many MOON tokens you have, you can check out the vault on Reddit, which is basically like any other cryptocurrency wallet. All Reddit users have this, but each one has a unique key. You can even access the vault from your mobile device, very convenient.
At the moment, Reddit released 50 million Reddit MOONs to the community, but there will be a maximum of 250 million MOON tokens. When it comes to that point, users that have managed to get their hands on some MOONs are going to, no pun intended, see their value go to the moon, like other crypto moonshots due to no new supply.
What can you do with MOONs cryptocurrency?
The basic thing you can do with this token is to spend it on Reddit. You can purchase various badges, GIFs, and some other unique items that will show your contribution to the platform. Of course, the more interesting part for most of us is turning it into fiat currency.
There are a couple of crypto exchange platforms where you can both buy and sell the reddit crypto MOON coin. The price of this coin will change over time, like any other cryptocurrency, but as we said earlier, the less supply there is, the more it is probably going to be worth in the future.
If you happen to earn Moons with your hard work on the Reddit platform and the r/CryptocurrencyMoons subreddit, you can also exchange your coins for a different currency and hop on the hype train for various esports crypto games. The best way to experience crypto mooning is when you decide to play some play to earn games, and suddenly discover that your gaming hours have not been a waste of time, but a valuable investment instead.