You are not alone if you think that the news of Tatcoin is everywhere. Almost everyone I know is making enquiries about buying Tatcoin or owning a Tatcoin wallet. Is this due to the fear of missing out or the need to make profit when Tatcoin appreciates? Well, we’ll see.
In this review, I’ll be giving my honest opinion of Tatcoin. I’ve been curious to know if Tatcoin is going boom or burst, and when the right time is to invest in Tatcoin. So, I made my research on what tatcoin is, the origin, the price history, and a bit of forensics to decipher if it’s the right crypto to invest in.
So, if you had planned to invest in Tatcoin before now, I’d say, wait and read this post first before making your investment. I like to think that smart investors do not just believe marketing hype. They go out to find the facts for themselves before investing their money. It doesn’t matter if it’s a crypto investment or not. The main thing is that you should always invest based on sound knowledge.
That said, let’s take a deep look at tatcoin.
What Is Tatcoin?
Tatcoin (TAT) is a ERC20 cryptocurrency built on the Ethereum network. It is the trading crypto for ABitNetwork, a cryptocurrency investment company in Nigeria.
Most cryptocurrency platforms like to have their own trading crypto so as to guard against price fluctuations and to give investors peace of mind. Just like you have BNB coin for Binance, you have TAT coin for ABitnetwork.
ABitNetwork gives investors the opportunity to invest in several portfolios such as real estate property, agriculture, transportation, fixed income, and cryptocurrency. But to be able to invest on the ABitnetwork, you must first have Tatcoin in your wallet.
I have not been able to verify the legitimacy of the investment portfolios on ABitNetwork, so investing in any portfolio on ABitNetwork may be risky and you may lose your money.
Tatcoin Price History
When Tatcoin launched in late 2020, it was first sold at a pre-seed price of $0.03 and quickly rose to $0.07. However, a quick look at Coingecko, a cryptocurrency price crawler, revealed that Tatcoin price for this week is $0.0044.
That is a heavy decline if you ask me. For a coin touted to be the future of cryptocurrency in Africa, to fall by more than 800% shows that there is really trouble.
Whatever the future holds, we’ll see if the price of Tatcoin continues to fall or make a retrace and climb back up.
Tatcoin Price In Naira
Tatcoin is listed on CoinMarketCap, but there is no price on the currency listing. However, there is a recent Tatcoin price on Coingecko, which is $0.00445103 per Tatcoin. If you convert that to Naira using an exchange rate of 480 Naira per dollar, it would be worth 2.1 Naira per Tatcoin.
This means that if you want to make an investment on Tatcoin that is worth about 5,000 Naira, you would have to buy Tatcoin worth 2,500 TAT.
Tatcoin Price In Dollars
As of this week on Coingecko, Tatcoin’s worth in dollars is $0.00445103. It is down with over -800% from its launching price of $0.03.
I reckon that since most of the investments bought using Tatcoin are based in Nigeria, Tatcoin’s value would be tied to the Naira. This means that whenever the Naira falls in value compared to the dollar, the price of Tatcoin may depreciate as well.
Tatcoin wallet is based on the ABitNetwork and can be used for making investments on the platform. This means that the utility of Tatcoin is limited to the ABitNetwork and may never reach mainstream users.
So, most owners of Tatcoin wallet would only hold the coin if they plan on making investments on the ABitNetwork rather than exchanging it with friends or businesses.
Tatcoin Current Value
Honestly, the current value of Tatcoin is unknown. However, the latest value of Tatcoin according to Coingecko is $0.00445103.
I think that the owners of Tatcoin have limited information on the real price of Tatcoin so as to set the price at their own discretion. This means that for any investment you want to make on the ABitNetwork, they would specify the amount of Tatcoin needed and the equivalent amount to pay in local currencies.
So, in my opinion, Tatcoin may just be a way for ABitnetwork to cryptonize the funds and transactions happening on its network.
For example, on its website, ABitNetwork has stuck to the same price it launched with. It listed the Tatcoin pair for Naira, TATNGN as 13.60 Naira and Tatcoin pair for Dollar, TATUSD as $0.03. Does this mean that the price of Tatcoin is fixed? Since it has refused to move up or down since launch.
This means that if you want to buy 1 Tatcoin with Bitcoin, you’d have to part with 0.00000066BTC
How To Buy Tatcoin
As of today, there is no way to buy Tatcoin outside of the ABitNetwork. This gives credence to my previous assertion of the coin owners wanting to have control in setting the price of tatcoin rather than leaving it to the market.
I searched for Tatcoin on Binance and Paxful, but there was no way to buy it. Seems like Tatcoin doesn’t have any universal use if you are not making an investment on the ABitNetwork. So, to buy Tatcoin, you will have to make sure you have decided to make an investment on the ABitNetwork.
Is Tatcoin A Good Investment?
I believe Tatcoin is not really an investment, so there is no way to know if it’s good or bad. Tatcoin is just tied to the ABitNetwork and the investments on the platform. So, if the investments on ABitNetwork are legitimate, then tatcoin is okay. But if the investments on ABitNetwork are not legitimate, then Tatcoin could be a sham.
This means that before buying Tatcoin, you need to verify the investments on the ABitNetwork to see if they are legitimate and a good fit for the type of investments you like to make.
Should You Invest In Tatcoin?
I believe in the real sense of it, Tatcoin does not have any value. It is just a way to invest in the ABitNetwork. The owners of Tatcoin has pegged the price at $0.03 or 13.6 Naira, and has refused to allow the market determine the real price of Tatcoin.
This inflexibility is a cause for concern, especially for investors looking to buy and hold Tatcoin.
So, if you have verified the investments on ABitnetwork and you feel it is worth investing in, then you can go ahead and buy Tatcoin.
The Tatcoin and the ABitNetwork idea is a good one, especially for the company trying to build a cryptocurrency out of Africa for Africans. However, by pegging the price of Tatcoin and not making it available for purchase on other platforms, I believe Tatcoin is solely designed to tokenize the investments on ABitNetwork.
Nothing stops ABitNetwork from allowing people to invest in Naira or Dollar, and if it were to be so, there would be no difference. So, in my opinion, Tatcoin is just a fancy crypto with no real use or value for the long term.
With the use so limited I wouldn’t be investing in Tatcoin. More so, I have no interest in investing on the ABitNetwork. That said, I’d sit out on buying Tatcoin for now until maybe when its price is unpegged and it is available for purchase on regulated crypto platforms.