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Pancat cryptocurrency burst onto the crypto scene in late 2021 as yet another meme coin trying to replicate the outrageous success of Dogecoin. Inspired by the viral popularity of funny animal memes, Pancat crafted its brand around the adorable image of a pancake-shaped cat. In this article, i am going to discuss What is Pancat Cryptocurrency (pancat coin) How to buy Pancat Cryptocurrency and everything about pancat token
What is Pancat Cryptocurrency? How to Buy Pancat Cryptocurrency ?
Pancat styles itself as a decentralized meme token powered by community engagement. Its mascot represents a cute pancake in the shape of a cat, blending popular breakfast and pet memes.
Pancat was founded in late 2021 during peak meme coin mania seeking to ride the coattails of breakout cryptocurrencies like Dogecoin and Shiba Inu. The total token supply at launch was 1 quadrillion.
What makes Pancat unique compared to other animal meme coins is its evolution to dedicate a portion of fees and proceeds to support cat rescue shelters, charity initiatives, and real-world community engagement efforts.
Origins as Meme Coin Seeking Dogecoin’s Crown
Pancat emerged at a time when new meme coins were proliferating across crypto markets, all trying to capture the meme magic that drove Dogecoin to a multibillion-dollar market capitalization.
As a meme project, Pancat similarly relied on humour and viral social media engagement rather than groundbreaking technology or intrinsic utility to drum up interest. The adorable pancake cat mascot and associated memes helped attract speculators looking to capitalize on the latest meme coin hype.
The name “Pancat” of course combines breakfast food pancakes with the feline inspiration. And the project’s marketing specifically called out Dogecoin, vowing to “replace the Dog token and dominate the crypto market.” This demonstrated Pancat’s clear aspirations to reach Dogecoin levels of adoption and price appreciation through similarly meme-powered momentum.
Plans for Gaming, NFTs and Other Features
Unlike some meme coins that remain solely focused on speculative price pumping, Pancat outlined plans to integrate real utilities into its ecosystem like gaming, NFT minting and trading, decentralized exchanges, and more.
These additional use cases could serve to take Pancat beyond just meme coin status, providing fundamental value and locking in a community of active users. However, it was unclear if the development team had the resources and capabilities to deliver on these promises.
The roadmap included phases like:
- 2022 – Launch of PancatSwap decentralized exchange and additional NFT releases
- 2023 – Listings on CoinGecko and CoinMarketCap data sites, marketing push
- 2024 – Real-world integrations, introduce Pancat blockchain
Pancat further claimed its NFT generator would donate a portion of each minting fee to animal shelters and charities. This could incentivize supporters to engage more deeply with the project compared to typical pump-and-dump meme coins.
Transition to Support Cat Charities and Shelters
As outlined, Pancat differs from Dogecoin and other meme cryptocurrencies in its evolution to dedicate support and funding to cat rescue shelters and other feline charities. This represents a shift beyond just utilizing cats as part of its meme-powered branding.
If successfully implemented, integrating charity efforts could help further distinguish Pancat from other meme competitors while also attracting users passionate about supporting animal causes. The community could begin seeing Pancat as not just another meme coin but as a platform for driving real-world social impact.
However, for these charitable initiatives to move beyond just empty promises, the Pancat team needed to achieve its roadmap goals for elements like the NFT generator that would feed fees into donations. Without many of the core promised utilities coming to fruition, the crypto community remained skeptical if Pancat could evolve beyond speculative pumps and dumps.
Why Buy Pancat Cryptocurrency?
There are several potential motivations for acquiring Pancat crypto assets:
- Pancat offers speculative investment appeal as a microcap asset that could exponentially appreciate in value if mimicking other viral meme outliers.
- The project roadmap includes future utilities like NFTs, metaverse spaces, gaming, and DeFi that could bolster fundamental demand.
- Pancat’s charitable pledges and loyal community-providing donations distinguish itself from pump and dump meme coins.
By understanding the fundamentals of Pancat Cryptocurrency, You can easily understand the potential of Pancat coins , So let us know the fundamentals of pancat crypto
PANCAT Coin Fundamentals
Understanding the technology and tokenomics behind PANCAT is key to assessing the cryptocurrency’s potential as an investment or speculative asset. This covers details of its blockchain network, coin supply mechanics, and roadmap tracking application development.
Details on Supply, Network, and Consensus Model
The PANCAT coin operates on the Binance Smart Chain blockchain network. This provides accessibility and interoperability with other major crypto assets and decentralized apps in the Binance ecosystem.
As a BEP-20 token, PANCAT leverages the robust development infrastructure, speed, and low transaction fees of Binance Smart Chain compared to alternatives like Ethereum. Block production relies on a Proof of Staked Authority consensus model.
Total supply started at 1 quadrillion PANCAT tokens, following the convention of other meme coins in setting a high initial supply. The circulating supply as of September 2022 sat around 50% of the total due to burns and locking.
Automatic Rewards and Burning to Drive Value
PANCAT employs tokenomics mechanisms aimed at controlling circulating supply to positively impact value.
First, every PANCAT transaction triggers a 14% fee that provides holders with a 2% reflection reward for strengthening community loyalty.
Second, PANCAT burns 3% of the 14% fee to permanently decrease overall token circulation. By reducing the supply over time while building engaged demand, PANCAT can boost its token’s scarcity and valuation.
Roadmap Tracking Progress on Promised Utilities
PANCAT’s published roadmap detailed expected milestones for ecosystem growth. Launching PancatSwap decentralized exchange by Q1 2022 and Pancat gaming integration were key goals.
Unfortunately, online communities found little evidence confirming progress on these roadmap utility features – over a year since launch. Lack of development activity combined with inability to access the project’s webpage pancatcoin.com raised red flags over the legitimacy of PANCAT as an investment-grade asset.
Without promised use cases materializing on time as claimed, PANCAT holders faced much higher risk exposure relying purely on speculative hype and without fundamentals backing real platform adoption and activity.
Now I am going to cover the step-by-step process for acquiring PANCAT cryptocurrency
Step-By-Step Guide On How To Buy Pancat Cryptocurrency
Step 1 – Set Up a Cryptocurrency Wallet
To store purchased Pancat assets, first, create a crypto wallet if you do not already have one. Leading options include hosted hot wallets like MetaMask or hardware wallets like Ledger and Trezor for enhanced security.
Step 2 – Connect Wallet to Exchange Platform
Connect the set up wallet to the selected cryptocurrency exchange site with Pancat trading pairs, like PancakeSwap based on Binance Smart Chain.
Step 3 – Purchase ETH or BNB to Exchange for Pancat
Fund your exchange account with cryptocurrencies like ETH or BNB to exchange for Pancat tokens. Leading fiat on-ramps include Coinbase, Crypto.com, and credit card purchases.
Step 4 – Trade Currency for Pancat Tokens
On the exchange, enter the trading interface to preview rates and process the transaction swapping ETH/BNB for Pancat cryptocurrency. Confirm the details in your wallet.
Initiate PANCAT Purchase and Transfer to Wallet
When ready, navigate to the PANCAT trading page and enter the amount interested in purchasing. Preview the total cost including trading fees. Then confirm the transaction in the wallet connected to the exchange.
Upon successful execution, transfer PANCAT off the exchange into a private crypto wallet to securely hold it long-term. Never leave holdings on an exchange which poses risks of hacks, glitches and centralized control over assets.
Storing PANCAT Safely in a Crypto Wallet
After buying PANCAT coins on an exchange, it is highly recommended to transfer them into a personal cryptocurrency wallet to properly secure holdings for long-term storage or trading.
Overview of Wallet Types Like Hardware and Paper
There are several categories of crypto wallets to evaluate:
- Hardware wallets store assets offline on physical USB drives for the highest security. Examples are Ledger and Trezor devices.
- Software wallets hold coins in apps on internet-connected devices, balancing usability and security. Popular options are Metamask, Trust Wallet and Coinbase Wallet.
- Paper wallets have keys printed on durable paper kept in secure locations for uncompromised security at the cost of convenience.
Steps to Add PANCAT Coin to Wallets
Most reputable wallets can support the storage of BEP-20 tokens like PANCAT with a few simple steps:
- Install the wallet app on your device or set up a paper wallet
- Choose the option to “Add Custom Token”
- Enter PANCAT’s contract address to enable visibility
- Confirm adding PANCAT with any listed details
- The wallet will now recognize the account’s PANCAT balance
Shielding Assets by Avoiding Prolonged Exchange Storage
Leaving cryptocurrency holdings on an exchange long term poses major risks even though selling may be slightly more convenient compared to a private wallet. Exchanges have suffered security breaches, glitches and prolonged outages leaving assets frozen with holders powerless.
Transferring PANCAT holdings into a non-custodial wallet ensures the user retains full ownership and control to transact freely. Only keep coins on an exchange when actively trading then withdraw back to wallet storage for optimal security.
Assessing PANCAT’s Investment Potential
Given the extreme volatility and uncertainty inherent to cryptocurrency assets, properly evaluating the potential upside and downside risks is critical before deciding to invest in PANCAT.
Developments to Bolster Use Cases and Adoption
As highlighted previously, the PANCAT development team outlined plans to build out a robust ecosystem of utilities like NFTs, gaming, decentralized finance through PancakeSwap, and more.
- If the team delivers on these roadmap promises, it could significantly expand real-world use viability and capture more dedicated users beyond just meme speculators.
- This is key for PANCAT to evolve beyond pump-and-dump status to a sustainable crypto project underpinning long-term gains.
Caution Over Speculative Appeal and Volatility
However, investors should be wary of buying into the hype before seeing evidence of actual released platforms with transaction volume.
- Relying solely on speculative manias could leave PANCAT vulnerable to the same boom and bust cycles that caused many meme coins in 2021 to surge and then come crashing down 90% or more.
- Without fundamentals backing valuations, prices can detach from reality and then violently correct.
Need for Innovation to Compete in Crowded Market
The meme coin space became extremely crowded with new entrants after Dogecoin’s breakout, all competing for investor dollars and attention. This included Shiba Inu, Samoyed Coin and countless other canine themed projects.
- PANCAT needed to set itself apart from the meme coin pack by not just differentiating with a pancake cat branding but also successfully delivering on ambitious goals for supporters to stay invested long term.
- Otherwise, investors’ attention may shift to the next viral meme coin should innovation stagnate.
Exchanging PANCAT on Major Platforms
For investors interested in acquiring PANCAT coins, it is important to understand which popular centralized exchanges support trading of the meme cryptocurrency.
Availability Status on PancakeSwap and Others
As PANCAT is a BEP-20 token on Binance Smart Chain, PancakeSwap offered direct trading pairs with BNB, BUSD and other tokens. PancakeSwap provided the largest liquidity pool and volume for PANCAT trading.
The tokens also traded against USDT on exchanges like BitMart, Hotbit and Gate.io. LBank supported extensive PANCAT pairs including DOGE and SHIB. Checking volume metrics and spreads on these platforms can enable buyers to secure optimal pricing when entering positions.
Advice to Consult Experts Before Investing
It should be reiterated that PANCAT and most meme coins can represent extremely speculative investments in one of the highest risk categories of cryptocurrencies. Investors are advised to consult financial and crypto experts for guidance before allocating funds into such volatile assets for the highest probability of preserving capital while still potentially benefiting from upside price moves.
Exercising great caution by limiting position sizing, setting strict stop losses and taking profits when able can allow traders to participate in meme mania moves without taking on excessive risk of ruin should the house of cards come crashing down.
The Future Outlook of Pancat Cryptocurrency
Pancat outlined an ambitious roadmap but failed to deliver initial promises on time, raising uncertainty about its future outlook.
Ongoing price declines and loss of social momentum further hampered community confidence and developer incentives to continue innovating. Without urgent evolution, Pancat risks fading relevance.
Renewed marketing and technical efforts could still potentially resuscitate interest and lift prices. But that relies on questions over the legitimacy and direction of current lead developers.
Frequently Asked Questions About Buying Pancat Crypto
Is Pancat cryptocurrency a good investment?
No, as a purely speculative microcap asset that has failed to fulfill roadmap promises, Pancat represents an extremely high-risk investment prone to pump and dumps.
What is the current price of Pancat?
As of December 2022, Pancat trades basically at zero – down over 99% from all time highs – indicating the market has moved on from the coin.
Can I buy Pancat on Coinbase?
No, mainstream exchanges like Coinbase have not listed Pancat cryptocurrency. You would need to use decentralized platforms like PancakeSwap.
Is there a Pancat cryptocurrency wallet?
No official wallet exists but Pancat coins can be stored on many popular cryptocurrency wallets that support BEP-20 tokens, like Trust Wallet.
Conclusion and Final Words of Caution
This complete guide covered all aspects of Pancat from assessing the cryptocurrency’s background, steps for acquisition, storage best practices, and investment profile evaluation.
Given extreme downside risks posed by unfulfilled promises, near-zero trading activity and markets shifting away, extreme caution is urged against speculative buying of Pancat crypto assets.
Ongoing due diligence, risk management and gradual portfolio exposure remain key to navigating the volatile cryptocurrency markets.
