PRE

Overview of PRE

PRE, formally known as Presearch Token, is a type of cryptocurrency that was founded in 2017 by Colin Pape and Thomas LeClair. This cryptocurrency operates on various exchanges, with supported exchanges including Binance, KuCoin, HitBTC, and Probit. Regarding the storage of PRE, it is compatible with multiple wallets, such as MyEtherWallet, Ledger Nano S, and Trezor.

Pros and Cons

Pros:

1. Operates on Multiple Exchanges: PRE tokens can be acquired on various exchanges. This expands the potential market for the token as users across various platforms such as Binance, KuCoin, HitBTC, and Probit have access to it. This can increase liquidity and possibly contribute to increased demand or value of the token.

2. Compatibility with Various Wallets: PRE tokens can be stored in a variety of wallets including MyEtherWallet, Ledger Nano S, and Trezor. This flexibility caters to the preferences of different users since everyone can choose the wallet that suits their needs best.

3. Established in 2017: The Presearch Token has been in existence since 2017. In the fast-paced world of cryptocurrencies, this shows some level of stability and persistence.

Cons:

1. Dependent on Platform Success: Like all cryptocurrencies, the success and value of the PRE token are tied to the success of the platform it operates on. This means any hiccups on these platforms can potentially affect the PRE token's value or reputation.

2. Requires Understanding of Cryptocurrency Storage: Though it's a plus that PRE tokens can be stored in various wallets, this also means users need to navigate the complexities of managing their digital wallets securely.

3. Relatively New: While its establishment in 2017 is a strength, this also means PRE is relatively new compared to other cryptocurrencies like Bitcoin and Ethereum. It may thus lack the proven track record or widespread acceptance of these more established cryptocurrencies.

What Makes PRE Unique？

PRE, short for Presearch Token, distinguishes itself from other cryptocurrencies by leveraging the concept of a decentralized search engine. It aims to provide an open and community-driven search platform where PRE token holders can influence the development direction, making it unique compared to traditional, centralized cryptocurrencies.

The PRE token works as a utility token within the Presearch platform. Users are rewarded with PRE tokens for searching, and these tokens can be used for advertising or to vote on platform governance decisions. This user-centric, interactive model sets it apart from many other cryptocurrencies, which primarily function as a means of transaction or store of value, without as much user engagement in the platform's functional development.

However, it's essential to understand that despite its innovative aspects, the PRE token shares commonalities with many cryptocurrencies. It operates within existing blockchain technology, relies on cryptography for secure transactions, and its success is largely dependent on user adoption and platform growth, just like any other cryptocurrency.

How Does PRE Work？

The working mode and principle of the Presearch Token (PRE) centers around a community-driven search engine platform where users are rewarded for their participation.

The platform creates a system that incentivizes user engagement by providing PRE tokens for conducting searches, thus creating a use case for the token beyond a simple store of value or method of transaction.

In contrast to many other cryptocurrencies, the tokens are not merely used for trading but serve functional roles within a specific platform. Users are incentivized to perform searches through the platform, and in return, they receive PRE tokens. These tokens can then be used for advertising or to influence platform governance, such as voting on improvements or changes to the platform, creating a cyclical economy within the platform itself.

The principle behind this model is to create an internet search platform that values and rewards active user participation and fosters an environment of collective development and reciprocal benefit. The value and utility of PRE tokens are thus directly tied to their platform's success and active user engagement.

Circulation of PRE

PRE's price has fluctuated significantly since its launch. The coin reached its all-time high of $0.08 in April 2023, but has since fallen back to around $0.02.

There is no mining cap for PRE. This means that there is no limit to the number of PRE coins that can be mined. However, the PRE team has said that they will implement a “burn mechanism” in the future. This mechanism will gradually reduce the number of PRE coins in circulation over time.

The total circulating supply of PRE is currently 100 million PRE.

Exchanges to Buy PRE

Here are ten exchanges where you can acquire PRE along with the currency pairs and token pairs they support:

1. Binance: This is one of the largest cryptocurrency exchanges globally. Binance supports a wide range of currency and token pairs for trading, including PRE/BTC and PRE/ETH.

2. KuCoin: KuCoin offers numerous digital assets for trading. With PRE, trading pairs include PRE/ETH and PRE/USDT.

3. HitBTC: This exchange offers services to individual traders worldwide. On HitBTC, PRE can be exchanged with BTC, ETH, and USDT.

4. CoinMarketCap: An international exchange that supports a large number of cryptocurrencies. CoinMarketCap offers PRE trading with pairs such as PRE/BTC.

5. Flux: Bitcoin and PRE can be exchanged on Flux. The available trading pair for this exchange is PRE/BTC.

6. Coinbene: Coinbene is a Singapore based exchange. You can trade PRE here with Bitcoin (PRE/BTC pair).

7. CoinGecko: CoinGecko is a platform that allows for the trading of tokens. With CoinGecko, trading of PRE can be made with pairs like PRE/BTC and PRE/ETH.

8. Bithumb Global: This cryptocurrency exchange platform supports a variety of currency pairs. PRE can be bought here with BTC and USDT as PRE/BTC and PRE/USDT trading pairs.

9. Uniswap Exchange: As a decentralized exchange on the Ethereum network, Uniswap allows trading of any ERC20 token. You can swap ETH for PRE and vice versa.

10. Android: Android supports PRE token trading. The available trading pair on this platform is PRE/ETH.

Remember, the listed pairs may vary and other pairs could be available. Always assess an exchange's validity, security measures, and its fees before proceeding to execute a trade.

How to Store PRE？

Storing PRE, or Presearch Token, like other cryptocurrencies, requires a digital wallet. As an Ethereum-based ERC-20 token, PRE can be stored in any wallet that supports this standard. It's important to note that the type of wallet to use depends on the user's requirements for security, ease of use, and access.

There are various types of wallets that can be used to store PRE, each having its own pros and cons. These include:

1. Web Wallets: These are wallets that can be accessed through a web browser. They are highly convenient for quick access and regular use, but may lack in terms of security when compared to other wallet types. Ethereum-based web wallets like MyEtherWallet supports PRE.

2. Software Wallets: These are applications installed on your computer or mobile device. They offer improved security over web wallets. Examples of these include MetaMask and Electrum.

3. Hardware Wallets: These are physical devices designed to securely store cryptocurrency offline, making them resistant to online threats. They are considered the most secure type of wallet for storing cryptocurrencies. Renowned hardware wallets like Ledger Nano S, Ledger Nano X, and Trezor are compatible with ERC-20 tokens, including PRE.

4. Paper Wallets: These are physical documents that store your public and private keys. Paper wallets are secure against online threats since they are completely offline, but they can be physically lost or damaged, so they need careful handling.

When deciding which wallet to use to store PRE tokens, consider factors like security, convenience, cost, user experience, and whether or not the wallet supports ERC-20 tokens. It's also essential to back up your wallet and keep the backup and any password or recovery phrases in a secure location.

Should You Buy PRE？

Determining who is suitable to buy a specific cryptocurrency like PRE depends on a variety of factors. Here are some potential profiles of those who might be interested in PRE:

1. Tech Enthusiasts: Those who have a strong interest in blockchain technology and how it can be utilized beyond simply a form of currency might be drawn to the unique use case of PRE—the idea of a decentralized search engine.

2. Active Participants: PRE's model rewards active users who perform searches on the platform. As such, those who wish to participate actively and gain from that participation might be attracted to PRE's approach.

3. Long-Term Investors: Investors who believe in the potential growth of a decentralized search engine might consider PRE for their portfolio. However, as with all forms of investment, this comes with its share of risks.

4. Risk-Tolerant Investors: Investing in any cryptocurrency, including PRE, comes with a level of risk. Those willing to accept and manage these risks might choose to invest.

As for advice for those considering buying PRE or any other cryptocurrency:

1. Research: Understand the specific token—its use cases, team, competitive landscape, and any technological advantages or drawbacks. For PRE, understand how it works and its uniqueness with its search platform.

2. Risk Assessment: Cryptocurrencies are notoriously volatile with potential for both high gains and substantial losses. Its crucial to risk assess any investment in this space.

3. Invest Wisely: Avoid investing more than what you can afford to lose. It's generally recommended to only invest a small proportion of your investment capital into cryptocurrencies.

4. Secure Storage: Ensure you have secure measures in place for storing your tokens. Understand how to use a digital wallet and ensure the security of your private keys.

5. Diversification: Diversifying your investment can be a good strategy to manage risk. Instead of investing all your money in one type of asset, consider having a diverse portfolio of different asset classes.

As always, its crucial to seek advice from a financial advisor or conduct your own thorough research before making any investment decision.

Conclusion

PRE, also known as the Presearch Token, is a unique cryptocurrency that's tied to an innovative, community-driven search platform. Founded in 2017, it allows users to earn tokens by simply searching on the website, thereby actively involving the community in its growth and development.

The future development of PRE largely depends on the development progression of the search platform itself and on increasing user adoption. Like other cryptocurrencies, PRE is traded on various exchanges which lends it potential to appreciate in value based on the supply and demand mechanics of the free market.

As with all cryptocurrencies, it's important to note that investing in PRE carries risks, including the potential of losing your entire investment. While some investors may see financial gains from increases in the value of PRE, it's always necessary to conduct thorough research and consult with a financial advisor before making investment decisions. As the market for cryptocurrencies is highly volatile, it's best to invest only what you can afford to lose.

FAQs

Q: How can users acquire PRE？

A: Users can purchase PRE on various exchanges such as Binance, KuCoin, and HitBTC, among others.

Q: What are the primary use cases for PRE within its platform？

A: PRE is used within the Presearch platform to reward users for conducting searches, and can also be used to purchase advertising or to vote on platform governance issues.

Q: Which wallet is PRE can be stored？

A: PRE, being an Ethereum-based ERC-20 token, can be stored in any wallet that supports this standard, from web and software wallets to hardware and paper wallets.

Q: What makes PRE different from other cryptocurrencies？

A: PRE differentiates itself by being tied to an operational search platform, with users rewarded for active participation, unlike many other cryptocurrencies which function primarily as digital currencies or investment assets.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.