I was asked to take a look at Ultrasafe (ULTRA) which is a Defi token sitting on the Binance blockchain. I’m quite interested in these cryptos as I hold about 20 of them in fact.
As many of you will know I have a very diverse portfolio of stocks, shares and cyrpto and I’m particularly interested in projects that have substance.
Ultra in this regard is pretty special. Its a yield token which means you can increase your holding just by, well, “hodling” it. But what is it ACTUALLY going to be used for?
- NFT Market place — I love NFT’s so I hope they do something better than OpenSea. My creations have just sat there literally drowning.
- They are promising a yield of 4% which is pretty good. Plus inflationary pricing should provide a good return. I will point out that some of my ERC20 tokens have done incredibly well. So being that this is on the Binance chain rather than the expensive-to-use Ethereum blockchain this makes it much more attractive.
How to get started
The easiest way to get some of these cryptos is to start by installing the MetaMask plugin on your browser.
The next thing to do is buy some Binance coin so you can exchange them for ULTRA coin. You can do that on Binance itself, although an easier way is to use bcbitcoin.co.uk which doesn’t require all that account verification and can send the crypto directly to your MetaMask wallet.
From there you can use pancake swap to buy the Ultra crypto with your Binance coin.
Other reasons I like Ultra
I think for me the fact it’s listed on Coinmarketcap always gives me a lot of confidence.
They have locked 100% of their liquidity in the contract.
It has had 2 audits! including CertiK which scored UltraSafe 97/100 (safer than SafeMoon!), meaning there is no risk of cyberattacks.
There is “passive income” simply by holding the coin (these are called reflections). Most cryptos you HODL you rely on price movement where here at least there is value in the coin itself.
In fact it holds 2 world records for the fastest growing crypto-currency including fastest to 5k holders and 60m market cap.
Although it’s a new project they do have 37k holders.
This is basically a ground-floor buy.
As the coin is Rug proof due to its locked allocation that gives me added confidence.
I think as well entering the NFT space is very important as it gives a more public connecting and facing view of the crypto. Let’s hope they find a really good way of running NFT that actually works — at least it won’t cost the earth to do anything like Ether based NFT”s.