Last Updated on April 7, 2023 by George
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David Moss established the cryptocurrency STRONG coin, often known as “Strong coin,” in 2018. It has an executive team made up of blockchain experts and administrators. Due to its promise of strength and resilience, it has attracted much interest from cryptocurrency users and markets.
The coin’s platform, StrongBlock, provides a feature that most other coins lack: renting out hosted and managed nodes in exchange for rewards. It will be interesting to see if this value proposition holds up over time.
StrongBlock’s unique quality has contributed significantly to Strong Coin’s publicity. In essence, StrongBlock enables anybody to possess the nodes that provide structural integrity to the ledgers within a blockchain and has further encouraged the general public to do so by developing two things:
- Node as a Service (Naas) applications provide the infrastructure necessary for nodes to be managed by everyday users.
- A Node Universal Basic Income (NUBI) protocol that rewards STRONG coins to those managing the nodes.
Nodes collaborate to establish a blockchain network that confirms transactions and authenticates user information, giving consumers secure access to their digital assets. On the other hand, the STRONG coin is comparatively new to the cryptocurrency markets, and its recent decline has led some investors to doubt its credibility.
Traditionally, miners are the ones who profit from their participation in the blockchain. While you could generate some money through nodes, it would be very little. It may be possible to determine how accurate these views are by figuring out how this circumstance came to be.
Is StrongBlock Legit?
StrongBlock allows customers to earn money by instantly launching nodes using their app. It promises to be a revolutionary approach to creating passive income, which 53% of millennials and 44% of Americans believe to be extremely important for their financial well-being.
Yet this also implies that the way people feel about Strong Coin’s potential could make any losses it suffers as a result of the economy worse. It increases the coin’s volatility beyond what it otherwise would have been by offering more.
Some Strong coin owners have reported feeling tricked rather than like they took a chance and lost. The currency is not a hoax; however, it is unpredictable, like all cryptocurrencies. It’s crucial to realize that the price of the Strong coin directly affects how profitable passive income from nodes is. Think about the following details:
- Each node costs 10 strong coins that you must pay at the Strong coins’ current price.
- You make approximately 9% of the coin’s price each day your node is fully functional.
- You will pay approximately $14.95 in Ethereum (ETH) monthly in gas fees.
At a Hypothetical bitcoin price of $27 on January 1, 2021, investing in three nodes would cost you $810. (3 x 10 x 27). It would result in a daily payout of $2.43 per functional node (0.09 x 27), and your investment would be repaid in roughly 111 days (810 / 7.29), assuming the price remained the same.
The Rise and Fall of Strong Coin
Three nodes would have cost $810 (3 x 10 x 27) to purchase on January 1, 2021, at the Current bitcoin price of $27, and would have paid $2.43 per active node each day (0.09 x 27). In 111 days, the investment would have been paid off. With the price reaching a peak of $1,193 by the end of 2021, this payout had increased to over $107 per day (1,193 x.09), all for an investment that only cost you $81.
In contrast, making three node investments at the Strong Crypto price of $515 on January 1, 2022, would have cost you $15,450 and yielded $46.35 per day from each node. After 111 days, your investment would recoup again if prices remained unchanged. Yet on January 13th, twelve days later, the price had risen to $708, increasing daily income from each node to $63.72 – demonstrating how increases in coin prices may recoup times and heighten profits.
On September 4th, 2022, eight months from now, the Strong cryptocurrency price fell to a low of $6.44, causing many users to abandon their nodes since they don’t want to spend money on gas when the profits are so meager.
What Happened to the Strong Coin Price?
Each coin has a unique economy known as “tokenomics,” which is influenced by several variables and the larger economy. It is seen by the experience of Strong Crypto, whose supply was slashed by 96% in November 2020 before finding traction eight months later.
Due to lively markets and low-interest rates, investor optimism caused it to peak at $1,193 in October 2021. But, the cost of Strong again dropped as soon as markets started to control inflation by raising interest rates.
Tokenomics can only go so far; Strong’s success depends on widespread acceptance of the coin, which will raise its price.
Ready to Invest? Here’s How to Buy Strong Coin
Do you want to buy some Strong coins? It would be best first to protect a crypto wallet on a reliable exchange. Some of the exchanges where Strong can be bought directly using fiat money are the following ones:
- Uniswap V2
Consider investing in Strong coin through a tax-advantaged retirement plan, like a self-directed IRA, to optimize your long-term returns and create retirement wealth.
By doing this, you’ll be able to avoid paying capital gains taxes, which would otherwise reduce your prospective profits.
Check out our guide and read more about it today to learn how to set up such an account and the advantages of investing in cryptocurrencies in a tax-advantaged environment.
Pros & Cons
- Strongblock Node’s pricing is determined mainly by its node economics, making it stable and predictable.
- If investors desire to purchase or sell significant volumes, it may be simpler to discover liquidity due to its lower circulating supply.
- Due to its small market size may be more susceptible to erratic movements caused by market sentiment.
- Investors might not be able to benefit from short-term trading opportunities due to its strong link with Bitcoin price movements.
Final Thought- Strongblock Node Price
When determining whether to purchase or sell after weighing the benefits and drawbacks of investing in Strongblock Node, it’s crucial to take your level of risk tolerance into account as well as the mood of the market.
In the end, even if some short-term benefits are available, a long-term perspective might be more rewarding as you become more comfortable with Strongblock Node’s node economics.