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To understand the usefulness of the MINX we want to talk about the Utility Token and how it works.
What is a Utility token?
A Utility token is a token that is issued to finance the development of a project and can then be used to purchase a good or service offered by the issuer of the token, i.e. they have a utility.
MINX is a utility token because its purchase not only has a value in the market, it also has a utility, in our case the utility is to be able to buy gold and other precious metals through MINX at a much lower price than the rest.
A Utility Token is a token that does not have as its main objective to generate expectations of immediate economic benefits. It is oriented to offer a concrete utility in a platform or application, which give rights to the use of certain products or services.
How does a utility token work?
These tokens are used so that people who acquire them have the right to exchange them for the product or service when it becomes available at a later date.
Unlike security tokens, these assets may be easier to sell in a secondary market, provided they have been included in the token.
In general, those who invest in these types of tokens are motivated by the prospect of their value increasing substantially in the future, which means that they can earn high returns in the future.
How do you know if a utility token is profitable?
As long as the project is not stopped, the utility token continues to exist. Therefore, always research the projects and find out if they are being developed.
If you have other Utility Tokens in your portfolio for which there is no current information about the project, it is probably better to sell them.
On the other hand, if you see that the project is still active and it shows in both networks and communications, you think that not only will it increase its value in the market, but you will also be able to benefit from the usefulness of the token to buy the goods or services offered by the company.
