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Although it can be volatile, it's common knowledge that cryptocurrency has proved itself to be a lucrative asset class to invest in if done correctly. Cryptocurrencies priced under a dollar can be particularly fruitful, as they can offer scope for triple-digit (or even quadruple-digit) returns for savvy investors.
There are hundreds of potential cryptos to invest in within the market, although one that has caught the media's attention in recent times is Lucky Block. This crypto-lottery platform looks set to make waves due to its exciting use cases and riveting roadmap – making it our pick for the best crypto under a dollar right now.
First thing's first – what is Lucky Block, and why is everyone so excited about this crypto? Put simply, Lucky Block is a lottery platform built on the Binance Smart Chain. As defined by Binance Academy, the Binance Smart Chain (BSC) is a blockchain network that offers a way for developers to build decentralised applications (dApps) with smart contract functionality.
Lucky Block leverages the power of this blockchain network to provide a crypto-lottery experience that is faster, fairer, and more transparent than traditional lottery systems. Many people will be aware that legacy lotteries tend to be operated by centralised entities that place the user experience way down the list of priorities. What's more, although these entities do donate most of the lottery proceeds to charity, it's often unclear where the money goes and who it helps.
Since Lucky Block will be entirely decentralised, all transactions will be publicly viewable on the ledger. This means that Lucky Block's charitable endeavors will be clearly showcased, ensuring a high degree of transparency. In addition, the platform will run on LBLOCK, Lucky Block's native token. By using LBLOCK instead of FIAT currency, lotto winners can receive their winnings much faster than with legacy systems!
Aside from being used to distribute winnings, LBLOCK will also be used in other ways. As noted in Lucky Block's whitepaper, users will be able to buy lotto tickets and pay fees using LBLOCK. Interestingly, a portion of all fees paid on the Lucky Block platform will be 'burned', reducing the overall supply over time.
As reported by CoinDesk, token burns create a 'deflationary event', which helps increase the price of a cryptocurrency. This occurs because the remaining tokens become scarcer as the circulating supply falls, increasing their value. Overall, this element of the Lucky Block token is crucial and will form a key incentive to hold the token long term.
Now that you've got an idea of what Lucky Block is, let's take a look at the platform's journey to reach this point. The buzz around Lucky Block kicked off during Q4 2021 when the LBLOCK token went through its presale phase. During this phase, investors could purchase LBLOCK for only $0.00015 per token – way less than the intended launch price.
The Lucky Block presale sold out nearly two weeks ahead of schedule, with investors snapping up all 32.5bn tokens on offer. This raised a remarkable $5.7m for the platform and set the token up well for its PancakeSwap listing. If you aren't aware, PancakeSwap is a decentralised crypto exchange (DEX) used for swapping BEP-20 tokens, which is the token standard for the Binance Smart Chain.
LBLOCK was set to launch on PancakeSwap in early February, yet the launch was brought forward to the 26th of January as investors clamoured to purchase tokens. Within two days of being listed on the exchange, LBLOCK's price surged an incredible 890% and reached a $140m valuation. Investors who purchased at the presale price fared even better, as the coin netted them returns of over 2000%.
Since reaching an all-time high of $0.0032 on the 29th of January, the price of LBLOCK has decreased slightly – although this is to be expected for a new listing. A look at the price chart will highlight that LBLOCK does seem to have rejected the strong support level around $0.0010, which has produced some upwards momentum over the past day.
Looking ahead, if Lucky Block can break out of the falling wedge pattern that price is trapped in, the first price target would be the all-time highs posted last week. If these were breached, it's possible that LBLOCK could head towards the $0.0050 region – a strong psychological area. Should this happen, it would result in gains of nearly 300% from today's price and give LBLOCK a fully-diluted market cap of $300m.
Buy Lucky Block on PancakeSwap Now
Cryptocurrency markets are highly volatile and your investments are at risk.
Given the coin's impressive response to being listed on PancakeSwap and the fact that numerous mainstream media outlets (such as The Herald) have written about LBLOCK, it's natural to wonder about the benefits that investing in Lucky Block can offer.
With that in mind, here are three of the main reasons to consider adding LBLOCK to your crypto portfolio:
One of the main incentives for investors to hold LBLOCK long-term is that holders will receive consistent dividend payments directly through the Lucky Block app. An allocation of 10% of each jackpot pool will be given back to LBLOCK holders as a reward – so the larger the prize pools are, the greater the rewards for holders.
This aspect of the LBLOCK token means that holders benefit from the growth of the platform's user base over time. Furthermore, the yields on offer are appealing, especially compared to other asset classes. As noted in a recent press release from Lucky Block, investors who hold $1000 worth of the token for an entire year will generate a yield of 19.2% per annum.
The 25,000 members in Lucky Block's Telegram group are eagerly anticipating the mobile app's release on the 21st of March. Alongside the mobile crypto app, Lucky Block's devs will also launch a desktop app, allowing users to get acquainted with the platform before the platform's lotto draws commence on the 25th of March. Once these start, Lucky Block users will be able to buy tickets to take part, whilst LBLOCK holders will begin generating consistent dividend payments.
According to CoinMarketCap, Binance is the world's largest cryptocurrency exchange by trading volume – and Lucky Block looks likely to be added to the exchange shortly. Lucky Block's developers are planning a listing application sometime in February, with the aim of being listed on the exchange before the end of Q3 2022.
Alongside the intended Binance listing, Lucky Block's team is also filing for listings on major centralised exchanges, including Crypto.com, FTX, KuCoin, and OKEx. If LBLOCK were listed on these platforms, it would significantly increase the ease with which retail traders could buy the token, therefore adding another source of price momentum.
Buy Lucky Block on PancakeSwap Now
Cryptocurrency markets are highly volatile and your investments are at risk.
Now that Lucky Block is listed on PancakeSwap, it's straightforward for investors to get their hands on the token. Although it can be daunting at first, the entire process is relatively short and can be completed with no prior trading experience.
So, without further ado, here are the four steps you need to take to buy Lucky Block today:
Since LBLOCK is a BEP-20 token, you'll need a crypto wallet that can connect to the Binance Smart Chain. Many wallets offer this feature, although two of the most well-respected are MetaMask and the Binance Trust Wallet.
You'll also need some Binance Coin (BNB), as this token is used to exchange for LBLOCK on PancakeSwap. You can buy BNB from most large brokers and crypto exchanges, so feel free to partner with any you'd like. Once you've purchased some BNB, send it over to your crypto wallet.
Go to the PancakeSwap website and click 'Connect Wallet'. Follow the on-screen instructions to link your wallet to the exchange.
You can now proceed to buy Lucky Block! You can find the token by going to the 'Tokens' section and searching for Lucky Block. Alternatively, you can click into the order box on the 'Exchange' page and paste in Lucky Block's contract address (0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb).
Either way, all you need to do is choose the amount of BNB you'd like to exchange for LBLOCK, double-check everything is correct, and confirm the swap. Following this, your LBLOCK tokens will then be placed in your linked crypto wallet.
Buy Lucky Block on PancakeSwap Now
Cryptocurrency markets are highly volatile and your investments are at risk.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
