The SMILE token has seen a clear breakout with 176% gains in 24 hours
The SMILE token, a DeFi protocol that aims to provide interoperability through the use of parachains, has surged in price, and is currently trading at $0.88 at the time of writing. The token could see another 2X or 3X from the current levels if the bulls maintain momentum. The rise in the price of SMILE was also accompanied by huge volumes, usually a sign of investors accumulating silently. DeFi protocols have seen strong interest from investors, and SMILE could also follow the price trajectory of other similar coins, if it manages to establish parachains that will allow integration with other networks.
How & where to buy Smile in the UK and elsewhere
As cryptocurrencies gain popularity, there has been a corresponding rise in new exchange/broker platforms. But not all sites are the same and you should stay away from decentralised exchanges as these are not regulated.
Opening an account on a broker/exchange site is easy and can be done at the click of a few buttons. Simply provide a username, password and contact details to open a trading account. Then, proceed to verification by submitting proof of identity and address. Most reputed platforms ask for verification as it is required as part of the Know Your Customer (KYC) regulations that seek to provide a secure environment for all users. Some platforms may also demand a selfie or a video call. These procedures may seem cumbersome but are required for the safety of all users.
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What is Smile?
Smile is a DeFI protocol that seeks to make decentralised finance easy and accessible to all. It plans to provide interoperability between different DeFi networks and is build on Substrate. The protocol will enable parachains to communicate with other DeFi networks in the future. It is a relatively new token but has all the usual features of DeFi platforms such as lending, staking and users can also provide liquidity to earn a passive income.
Should I buy SMILE today?
The SMILE token has enjoyed a good surge in the past 24 hours and another fresh surge in price could take it to the $1 level and beyond. The coin has the potential to rise further if the current bull run continues. Early holders could possibly earn handsome returns if the price trend continues in the future.
This article is informational only—none of the contents should be construed as financial or investment advice.