What is Gecoin (GEC), and How Does it Work?

<div><img width="1200" height="665" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/What-is-Gecoin.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="What is Gecoin (GEC) and how does it work?" decoding="async" loading="lazy" /></div><h1><strong>What is Gecoin (GEC), and How Does it Work?</strong></h1>
<p><span data-preserver-spaces="true">Have you heard about Gecoin yet? If not, we are here to introduce you to its main utility features and investment potential.</span></p>
<p><span data-preserver-spaces="true">The Gecoin Geco. one </span><strong><span data-preserver-spaces="true">cryptocurrency derivatives</span></strong><span data-preserver-spaces="true"> exchange uses the GEC utility token. This exchange was launched in August 2020 and is registered in Estonia. Geco One OÜ is recognized as a Founding Member of the Polish-Estonian Chamber of Commerce. </span></p>
<p><span data-preserver-spaces="true">Users of the exchange can access the most popular cryptocurrency pairs and trade them using BTC, ETH, GEC, and USDT as collateral. The exchange provides all the necessary professional tools for a smooth trading experience. </span></p>
<p><span data-preserver-spaces="true">Gecoin, the token used on the platform, is based on the Ethereum network, which is widely accepted in the cryptocurrency industry. The total supply of GEC is limited to 173,105,106 tokens, and it follows a deflationary tokenomics model. To reduce the total supply to less than 50% of the initial amount (80 million GEC), burning events will take place every 3 months.</span></p>
<h2><strong>GEC Price Statistics</strong></h2>
<p><span data-preserver-spaces="true"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-221358" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/statistics.jpeg" alt="GEC Price Statistics" width="1025" height="665" /></span></p>
<ul>
<li><span data-preserver-spaces="true">Gecoin Price $0.060319</span></li>
<li><span data-preserver-spaces="true">Market cap</span></li>
<li><span data-preserver-spaces="true">24 hours Low / 24h High $0.059462 / $0.060913</span></li>
<li><span data-preserver-spaces="true">7d Low / 7d High $0.02549907 / $0.062359</span></li>
<li><span data-preserver-spaces="true">Trading Volume $349</span></li>
<li><span data-preserver-spaces="true">All-Time High $0.281795 -78.58%</span></li>
<li><span data-preserver-spaces="true">May 26, 2022 (about 1 year)</span></li>
<li><span data-preserver-spaces="true">All-Time Low $0.02547893 136.92%</span></li>
<li><span data-preserver-spaces="true">Aug 21, 2023 (3 days)</span></li>
</ul>
<h2><strong>Gecoin’s main utility features</strong></h2>
<p><span data-preserver-spaces="true">Starting in January 2022, customers of the Geco. One <a href="https://www.financebrokerage.com/what-students-need-to-know-about-cryptocurrency/">cryptocurrency</a> derivatives platform will have the option to purchase a monthly subscription using GEC tokens. This subscription will grant them access to a range of additional features, including:</span></p>
<p><span data-preserver-spaces="true">1. REDUCED TRANSACTION FEES</span></p>
<p><span data-preserver-spaces="true">Users will enjoy a 20% discount on all transaction fees, resulting in a decrease in the default fee from 0.04% to 0.032%.</span></p>
<p><span data-preserver-spaces="true">2. STAKING</span></p>
<p><span data-preserver-spaces="true"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-221356" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/features.jpeg" alt="Gecoin's main utility features" width="1025" height="665" /></span></p>
<p><span data-preserver-spaces="true">By participating in the staking feature, individuals can generate </span><strong><span data-preserver-spaces="true">passive income </span></strong><span data-preserver-spaces="true">by locking up their funds for a specific period. This can be done using four different cryptocurrencies: BTC, ETH, USDT, and GEC. Users have the potential to earn up to 8% through this staking process.</span></p>
<p><span data-preserver-spaces="true">3. GEC TRADING ON GECO.ONE</span></p>
<p><span data-preserver-spaces="true">In addition to the aforementioned features, individuals who hold GEC tokens will now be able to utilize them for trading on the Geco.one platform, alongside BTC, ETH, and USDT. The ability to trade GEC tokens on external exchanges will commence on January 21, 2022.</span></p>
<h3><strong>How long can you keep an open position for on Geco.one?</strong></h3>
<p><span data-preserver-spaces="true">Your position can remain open as long as your available margin does not reach 0%. However, it is important to note that a SWAP fee of 0.01% will be applied every 8 hours.</span></p>
<p><span data-preserver-spaces="true">All deposits are processed on the </span><strong><span data-preserver-spaces="true">Bitcoin (BTC) blockchain</span></strong><span data-preserver-spaces="true"> and require three block confirmations, which usually takes around 20 minutes. The time may vary depending on the congestion of the Bitcoin network during your transaction.</span></p>
<p><span data-preserver-spaces="true">Geco.one is committed to ensuring that all customers can benefit from holding crypto through the staking feature offered at app.geco.one.</span></p>
<p><span data-preserver-spaces="true">To take advantage of this, all you need to do is purchase a monthly subscription worth 5 GEC. This will give you access to staking and provide you with the necessary tools to earn passive income in your preferred currency.</span></p>
<p><span data-preserver-spaces="true">There are four different plans to choose from, ranging from 30 to 360 days.If you decide to freeze your coins for 360 days, your reward will be 8% in the chosen currency.</span></p>
<p><span data-preserver-spaces="true">Take advantage of the downturn in the market and make use of staking to maximize your gains. Staking refers to the act of keeping a specific amount of tokens in a </span><strong><span data-preserver-spaces="true">digital wallet </span></strong><span data-preserver-spaces="true">for a cryptocurrency and employing them to assist the functioning of a blockchain network. As a result of staking their tokens, users are frequently rewarded with new tokens or transaction fees.</span></p>
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