Rise of the Overlooked Tokens!

Updated: Feb 6, 2021

Many of you are probably aware of a class of tokens that seems to be overlooked. Let’s call them Broker Tokens. What? Yes, Broker Tokens. These are tokens that were created as utility tokens by some of the industry broker platforms.

*values at the time of the writing 2:30 pm EST 4 Feb 2020

There are others that are more closely tied to exchanges like Binance Coin and OKB Coin; I do find it interesting that some are called coins while others are called tokens, but I will save that for another post.

Over the past 7 days, $VGX has outperformed all it’s competitors by leaps and bounds. Why? Recently during the GameStop/WallStreetBets debacle, Voyager received a ridiculous amount of attention (maybe) because $DOGE coin is listed and that asset received an outpouring of support from the WSB community. The CEO, Stephen Ehrlich, of Voyager said in a recent interview with, Digital Asset News, that they received over 100 account sign ups a minute!

These broker tokens do have utility. For instance for Voyager, if you hold 10K, you get a 1 percent bump in the interest that you earn on any asset. This is the result of their 1% interest booster campaign. In addition you also earn 3% on the VGX tokens you hold. Not bad right?

If you look at Celsius, those who opt to get paid in CEL token vice the in-kind asset, will receive more interest. If you pay loans using CEL tokens, the amount of interest you pay is decreased. Win/Win all around for CEL token holders. Alex Mashinsky has and is very vocal about his platform and the opportunities. I highly recommend you check out their YouTube channel.

The same applies to Nexo you will pay less and receive more if you hold their tokens. In addition, Nexo has been stress-tested in a way no bank has ever been. Check out Antoni Trenchev's interview with Bloomberg. Crypto.Com is a little different in that they have a credit card and based on how many tokens you hold, determine the rewards you receive with their cards.

Bottom line is this: You would serve yourself well if you did your research/homework on these Broker Tokens because there could be some amazing value in the days, weeks, and months ahead.

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