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The #Eco Coin! Something for sustainable crypto investers.
The #Eco Coin! Something for sustainable crypto investers.
Breaking News Breaking News

There will also be something for sustainable crypto investors.
A yellow brown circle with the #Eco symbol on it in black
Sustainable investors pay attention. A digital currency will now also appear for investors who want to invest in crypto coins in a sustainable manner. And if you like trees, then you're on the right place. At least that is the approach of a new initiative.

Next Nature Network introduces the ECO Coin on 20 April. According to the network, this coin is the world's first crypto that rewards people for sustainable operations. The setup is completely different from what we are used to from crypto coins like the bitcoin.

The bitcoin also recorded just above 6.758 dollar on Tuesday morning. Most other crypto coins also showed decreases across the broad front, according to data from CoinMarketCap.
Eco currency diagram with a green yen, blue Euro, red  dollar brown Eco

The idea behind the launch of the ECO Coin is that ecological value is not well represented in our current economy. If you cut a tree and sell the wood, you earn money. When you plant a tree, you also create value, but you do not earn anything with it. That sounds commendable.

A coin, a tree

The ECO Coin is a cryptocurrency that, according to the Next Nature Network, is covered by trees and ensures that sustainability is no longer a moral obligation, but an economic decision. The goal of the ECO Coin is to connect economy and ecology by making ecological value explicit in economic terms.

How does the ECO Coin work? Like other cryptocurrencies, the ECO Coin runs on blockchain technology. Unlike the bitcoin, the ECO Coin is supported by ecological assets, according to the distributed press release. Each ECO is covered by one tree. "This will create a new golden standard and link all credits directly to the amount of trees in circulation", at least that expectation is stated by Next Nature Network.

ECO Coins can be received in three ways: by carrying out sustainable activities, by donating trees or by buying ECOs with a regular currency. The ECOs can be exchanged for ecological experiences, goods and services. You can, for example, pay an organic beer with your ECO capital or receive a discount on your green energy bill. According to Next Nature Network this will lead to an alternative value system in which economy and ecology are better balanced.
part of trees in a forrest

Durable or not

The question is, of course, how it is with the so-called 'mining' of this crypto coin. Mining, or making virtual coins, happens on heavy computers that consume a lot of energy. This contributes to the emission of CO2, which in turn is not good for global warming.

One consolation for investors is of course that they will not get frustrated by the fairly volatile movements that have gradually become commonplace in the crypto market. Perhaps the ECO Coin is therefore something for investors who want to be more Zen.