Almost every day a new crypto-coin is launched in the cryptocurrency market. While most of them clone an existing blockchain, some currencies are built from the ground up. The market has over 5000 cryptocurrencies currently in trading.

Among a large number of coins, one currency that has risen amongst the top 50 cryptocurrencies is Komodo (KMD).

 

What is KMD?

Innovation is fuelled by competition, and the blockchain industry is full of it. The number of niche blockchain platforms is huge, but most of these compete on four principles, viz. interoperability, security, adaptability, and scalability. The development of Komodo commenced in 2014, and the platform was developed on the technologies used by ZCash and Bitcoin blockchain. Since its launch, Komodo has been a pioneer for several innovative use cases.

The Komodo platform provides an interoperable, secure, and stable ecosystem that offers an end-to-end blockchain solution. Using this platform, you may create your blockchains and also host token sales. The Komodo platform includes features of Zcash, such as the zero-knowledge proof mechanism. Additionally, it also utilizes an open-source protocol to provide private, anonymous, and fungible trades. The platform uses delayed proof of work (dPOW), which provides a new mechanism to notarize the blocks to deliver complete immutability to offer an additional security layer for safe transactions.

The coin, denoted as KMD, is the native currency of this platform. It is a privacy-focused currency with security being a fundamental feature of the Komodo platform. The total volume of KMD is capped at 200 million. Out of these, 100 million were pre-mined and distributed via an Initial Coin Offering (ICO). 90 million of the pre-mined coins were distributed among various investors, and the balance was retained for further development of the Komodo platform.

 

KMD Price

The current market price of KMD is USD 0.590313 with 24-hour high and low prices at USD 0.626301 and USD 0.567985, respectively. The one-week komodo coin price prediction is shown in the table below:

Date Minimum (USD) Average (USD) Maximum (USD)
September 8, 2020 0.515 0.615 0.714
September 9, 2020 0.508 0.607 0.705
September 10, 2020 0.488 0.589 0.693
September 11, 2020 0.503 0.596 0.705
September 12, 2020 0.491 0.580 0.678
September 13, 2020 0.482 0.577 0.677
September 14, 2020 0.513 0.605 0.701

Source https://walletinvestor.com/forecast/komodo-prediction/charts

 

Here is how the KMD price prediction appears for the last quarter of the calendar year 2020:

Month Minimum (USD) Average (USD) Maximum (USD)
October 0.6534671 0.7687848 0.9609811
November 0.6535241 0.7688519 0.9610649
December 0.6540924 0.7695204 0.9619005

 

Factors that affect the KMD price

Presently, approximately 119,511,497 KMD coins are in circulation and ranked at 74 across the cryptocurrencies. The predetermined supply of this coin is capped at 200,000,000, which leaves more than 80 million coins, still pending to be mined from the total pool. The balance mining is expected to reach its maximum capacity by 2030, which is one of the factors that may affect the Komodo coin forecast.

 

Like several other currencies, KMD is also traded across the globe. Therefore, any news related to the cryptocurrency market and policy updates from the world affects the price of this currency. Based on these factors, the KMD forecast may either increase or decrease.

KMD coin is listed on several exchanges including ChangeNOW, which is one of the leading crypto exchanges in the world. Trading is available in multiple pairs like KMD USDT, KMD BTC (Komodo BTC), and KMD BNB (Komodo Binance coin). The availability across multiple countries increases the adoption of KMD, which positively affects the Komodo prognosis.

KMD is a privacy-based currency focusing on decentralization. It is built for individuals who like to stay in the shadows and is built on a solid technical foundation that attracts the target customers. The currency uses multiple algorithms to remain lean, allowing server and computer users to mine it. Additionally, it allows direct swaps from user wallets, thereby eliminating middlemen. The open-source Komodo ensures value for technically-suave and core users.

Nonetheless, Komodo predictions require an in-depth analysis of the cryptocurrency markets. Additionally, you must know about the market movements along with knowledge of fundamental and technical analysis of the currency. To ensure you develop a robust and accurate Komodo stock forecast, understanding the basics about cryptocurrencies and comprehending different forms of charts is important. If you do not have the expertise, relying on professional experts to gain insight into KMD predictions may be beneficial.

This KMD analysis bodes well for the currency and may prevent its failure during a crash. Privacy and strong trading options ensure its use for several years in the future. The decision to buy or not rests with the readers who are advised to do their research and Komodo coin analysis.

Year USD
2021 0.77689417
2022 1.85
2023 2.18
2024 2.48
2025 2.76
2026 2.97

Source: https://digitalcoinprice.com/forecast/komodo#tab_view

Where can you buy KMD?

The long-term KMD predictions could be perceived as a profitable proposition by some. Currently, ChangeNOW is the most active market where the coin is traded. Some of the other exchanges from where you may trade in KMD include Binance, eToro, Upbit, bitFlyer, HitBTC, and Bittrex.

 

How to hold your KMD?

If you decide to buy this cryptocurrency based on the KMD projection, the next question you may have is how to hold these coins? Wallets are an excellent option and allow you to store and manage various digital assets. Wallets may be as follows:

  • Online wallets: These are simple to use but not completely secure. It is advisable to use these only in case of an emergency when no other options are available.
  • Desktop wallets: Although your computer may not be more secure than your phone, misplacing or stealing it is harder. Nonetheless, it is recommended you do not store your complete portfolio on a daily-use computer.
  • Mobile wallets: These may be convenient but are only as secure as your smartphone. In case of loss or theft, can you be certain that the information may not be compromised? Probably not! It is, therefore, advisable to not store important wallet related information like secret key/password on your phone.
  • Offline or hardware wallets: Any funds that you may have after investing based on the KMD stock forecast can be stored in these if the investment was done for the long-term. Using a safe box to store your hardware wallet and the recovery seed makes it almost impossible to steal the funds without physically accessing the device.

 

KMD active user rewards

When you hold greater than 10 KMD, you can automatically accumulate user rewards. These rewards accumulate when these coins are under your control i.e. in a KMD wallet against holding it on an exchange. However, remember that these rewards are capped after one month in case there is no activity in the wallet.

Although KMD prognosis shows an increase in the price over the long-term, readers must use their analysis and discretion to make an investment decision. The volume across various exchanges is low and averages approximately USD one million per day. However, you are eligible for a 5.1% compound KMD reward when you hold at least 10 KMD, which could make it an interesting currency to invest in.

 

Conclusion

Komodo is another player offering the ICO alignment and application development ecosystem. Within the fierce competition, it has differentiated itself with innovative features like dPOW, smart chains, atomic swaps, and multi-chain syncing technology. Scalability of one million transactions per second is an excellent technical feature; however, it does require a large number of users.

So, based on the Komodo projection, should you invest in a KMD coin? As always, the investment decision is yours, and this blog is to only introduce you to the cryptocurrency and provide you with the basics to make an accurate decision.