KIN – The Bottom of the Barrel?
I recently picked up about 2.3 million KIN for around 17 bucks a couple weeks ago. Like many people, I used to use the Kik Messenger app back in the day, so I figured since this cryptocurrency was developed by the same people (though they sold off the messenger to a California company last year) it might have some potential marketability. KIN is largely perceived as a dead coin because Kik is currently embroiled in a protracted legal battle with the SEC over its initial coin offering in 2017. As a result, a lot of investors won’t touch this currency with a ten foot pole.
As with any cryptocurrency, if you are going to purchase any, you should do so with the expectation you could potentially lose your entire investment. However, there are reasons to consider picking up some KIN right now. It’s extremely cheap, practically rock bottom. So there isn’t much downside if you want to throw 25 or 50 bucks in just for the hell of it. Unlike many bottom of the barrel priced offerings, KIN is still readily available to trade on many exchanges (I personally prefer changelly). If there is even the slightest bit of positive news relating to the lawsuit, the coin, or a potential new partnership, it could cause the coin price to shoot up quickly. The price has nowhere else to go. I won’t make any assertions about the long term viability of KIN itself. As for right now though, it’s a fun little lotto ticket.