How to Invest in Taas: A Quick Guide
TaaS was an interesting cryptocurrency experiment from a few years back. It stands for “token-as-a-service.” Read on to find out more.
The project worked like a tokenized fund. It allowed people to invest in digital assets by purchasing tokens instead of buying cryptocurrencies directly. Although the project has come to an end, you can still figure out how to invest in TaaS—with some caveats.
Keep reading for a quick guide about how to invest in TaaS.
What Is TaaS Stock?
In 2021, TaaS was one of the latest crypto experiments to make headlines. TaaS stock launched in 2016. The idea of the stock was to make it easier for people to invest in blockchain technology and cryptocurrency.
Programmers built TaaS on the Ethereum blockchain. It worked as a smart contract used for the token-as-a-service business model.
This business model focuses on making speculation easier for investors. In the end, TaaS was an investment fund.
Investors would buy TaaS coins. The founders of the coin would then make investments. It distributed 50% of its profits quarterly.
Why Are People Suddenly Interested in TaaS?
In mid-2021, tweets published by serial entrepreneur Elon Musk sent cryptocurrency markets into a frenzy. Since then, various cryptocurrency options have received a new wave of interest—including TaaS.
Now, cryptocurrency is everywhere, and people want to know about it. In forums, posts on TaaS receive thousands of reactions. This interest has brought TaaS back to life—in a sense.
If investors have learned one thing, the next crypto innovation could serve as a windfall. TaaS has an air of mystery—it’s relatively unknown. As speculators came across information about the token, they wanted to know more about it. However, it remains to be seen whether this interest is enough to breathe new life back into TaaS.
A Closer Look at Taas
Already, you can see that TaaS isn’t like cryptocurrency. Cryptocurrencies get generated by their own blockchains.
Conversely, the TaaS Capital Fund issued a limited amount of TaaS tokens. The tokens were wrapped in a smart contract that ran on top of Ethereum.
What Happened to TaaS?
Ultimately, the TaaS Capital Fund went out of business. In the end, company founders claimed to support more than 35 TaaS projects.
They then shut down the company and distributed the remaining assets to current token owners. TaaS Capital Fund no longer exists.
Yet, TaaS tokens still remain. However, they no longer pay out profits. Resultantly, it takes some work if you want to get into investing in TaaS these days.
Taas Today
Today, major markets and exchanges no longer actively track token-as-a-service stock. The last CoinMarketCap valuation for Taas was around $0.84.
As a result, it’s difficult to track TaaS. Since the token’s not available, the markets don’t follow it.
You can no longer buy TaaS on a popular platform like Coinbase. Still, you can add it to your watchlist if you want to track its performance.
How to Invest in TaaS
It’s relatively easy to buy TaaS tokens. Although, you’ll have to do some maneuvering.
There are a few active trading markets where you can buy TaaS. These platforms include Capital, Plus500, and Binance.
You must register with one of the services to get started. Next, you must convert your funds to a TaaS-compatible cryptocurrency like Ethereum.
Now you can make your TaaS purchase. As you look through ticker symbols, however, make sure not to confuse them with TaaS offered by the likes of Uber and Lyft. These TaaS are transportation-as-a-service.
Making Trades
Again, you cannot buy TaaS on Coinbase. However, you can track it.
If you’re dead set on investing with Coinbase, you might try another crypto asset. For example, Ethereum (ETC) and Bitcoin (BTC) may interest you if you’re a fan of Coinbase.
Nevertheless, you can still buy TaaS. Often, you’ll need to go through a peer-to-peer exchange to do so.
For example, you might try a P2P exchange like Etherdelta in your search for TaaS. Remember, however, you must purchase Ethereum first and use it to purchase TaaS.
TaaS Tips
If you’re reading this TaaS guide, you’re most likely wondering if TaaS is still a good investment. In the end, whether it’s a sound investment depends on your goals.
TaaS no longer operates as a fund. As a result, you can no longer receive regular returns.
In other words, investing in TaaS is now purely speculative. If you think it might sell later at a better price, then you may want to buy and hold it. You must consider this point to decide whether or not TaaS will make a good addition to your investment portfolio.
Making the Most of TaaS
If you have PayPal, you can use it to purchase TaaS. First, however, you must purchase Bitcoin, then use a service like Binance to make the exchange.
If you’re a European investor, the process is similar. You would use BitPanda to purchase Bitcoin. Alternatively, you could use Skrill to purchase Ethereum.
You may notice a recurring theme at this point. All roads point to platforms like Binance when it comes to purchasing TaaS these days.
The most affordable way to purchase TaaS, however, is with your bank account. First, you’d use your bank account to buy Bitcoin. Then, you can exchange it for TaaS.
Learn to Grow Your Investments
Hopefully, our brief primer on how to invest in TaaS helps you evaluate potential options for your portfolio.
If you want to grow your investment portfolio, Spiking can help. We’re the home of Insiders Trading.
Learn the ropes of trading with our simple, powerful insider trading secrets. With enough lessons, you can invest alongside the giants in the market.
Sign up for our upcoming webinar to learn more about getting the inside scoop on investments.
Join the Spiking Wealth Community
Want to learn more about the various trading strategies and see which one suits you the best? Led by Dr. Clemen Chiang, the Spiking Wealth Community is an online community network. Together we are catching the Spikes so that you have faith, hope, and love in everything you do. Spiking Wealth Community helps you to accomplish time squeeze by connecting the dots through online courses, live trading, winning trades, and more. Join us for Free and start your Spiking Wealth Journey today!
*