There are a lot of cryptocurrencies out there that making a decision on what to invest in or what not to invest in is now tricky and a big deal. This is because some coins have surged and are doing so well, while other coins are nothing to write home about.
Although there are several coins and cryptocurrency is literarily the new oil, not all will be successful; some will be just average, some will fail, while some are not legit.
This article will discuss in detail a particular cryptocurrency that is relatively new, Clover. Here, you will learn all you need to know about Clover as a cryptocurrency, its history and origin, and how much the clover coin is worth. You will also find out in this article whether it is safe or not and whether it is a good investment or not.
What is Clover?
Clover Finance is a blockchain operating system that gives access to a one-stop, user-friendly blockchain infrastructure. It also provides access to an EVM (Ethereum Virtual Machine) compatible structure for applications that are substrate-based.
Clover focuses on closing the gap when building and operating across blockchains.
The History of Clover
The clover project was established in May 2020 when several blockchains were needed to be compatible and interoperable.
After months of development, Clover was recognized as one of the Coinlist seed alumni in February 2021
By July 2021, the clover token has been accessible on all major exchange platforms like Coinbase, Binance, FTX, KuCoin, OKEx, MEXC, etc.
In October 2021, Clover started the new web wallet, which allows social login and brings the crypto wallet to another level.
As of November 2021, the clover wallet app has accumulated about 350,000 downloads on several platforms.
Features of Clover
Clover finance was made to provide more than one service to its users. It was made as a blockchain operating system. In this section of the article, we shall list out the unique features of Clover.
The Clover network has four layers; the storage layer, the Defi protocol layer, the smart contract layer, and an eApp layer.
The Defi Protocol Layer
The Defi protocol layer is a decentralized finance bridge that provides a perfect portal for both experts and newbies into the decentralized finance world. The clover platform makes it easy for users to easily create and use decentralized applications that can work across the blockchain.
The External Application
The external application is an advancement of the Dapps. The eApp layer permits developers to use their eApps without using any other virtual machine effortlessly.
Some other features of Clover include;
- Clover extension wallet, web wallet, and mobile wallet.
- The clover multi-chain explorer
- Clover service API
- Clover cross-chain bridge
The Clover Token
The clover native token is called CLV. It can be used for staking to take part in several things like transaction fees, platform rewards, platform rewards, network governance, and consensus.
The clover token CLV can be used to pay gas fees, validate networks, get funds for your project from the treasury and deploy contracts and dApps.
What is Clover Chain
Clover chain is a substrate-based, specialized layer one chain that is compatible with EVM. It enables interoperability and supports transactions between EVM and substrate accounts. It is an infrastructure that is made available for assessing dApp in a multi-chain universe. Built-in support allows the Clover EVM to upgrade smart contracts seamlessly.
The Clover Wallet
The clover wallet is an application that enables users to effectively manage crypto assets and connect with all kinds of dApps (decentralized applications). The clover wallet application is non-custodial, multi-chain, multi-platform. The Clover wallet is accessible on mobile phones, i.e., Android and Ios, on desktops, and websites too.
The Clover wallet support substrate-based blockchains like Clover, Polkadots, etc. It also supports chains that are EVM compatible, e.g., Matic, Fantom, Binance Smart Chain, and Ethereum. It can also help NFTs on BSC, Ethereum, etc.
How To Create a New Clover Wallet
- Open the Clover wallet app or website and click ‘I do not have a wallet.’
- Input a newly formed password that should have at least ten characters.
- Then gently move your hand across the blurred picture to see your seed phrase
- Ensure to correctly write down the seed phrase
note that your seed phrase is your security, avoid sharing it with people as they can without your password.
- To verify your account, enter the seed phrase.
- Then, click on the “continue” button to complete the process.
How Much is Clover Worth
The clover coin is relatively new. It currently is worth USD 0.354264. The CLV price has seen an increase of about 5.38% in the last 24 hours, and the circulating supply of the CLV coin is 260,975,397. However, the maximum supply of the CLV token is 1,000,000,000.
The current total market value of Clover is about 1 billion, and in terms of market dominance, it ranks 382th with a live market cap of USD 92,454,239.
Is Clover Safe?
With Clover being a relatively new coin, it is no wonder that people tend to ask the question ‘is it safe?’’
There is no centralized governance entity, so the Clover system is a bit untrustworthy. However, Clover has adopted the Polkadot para chain and Substrate framework, which has added extra security to the clover network.
Where can CLV be bought?
As of now, Clover can be purchased directly with FIAT currencies from the top centralized exchanges. Binance, OKEx, FTX, Bithumb Global, etc., are some of the top exchanges from which Clover can be gotten.
Clover Finance (CLV) contract address
Clover Finance (CLV) uses the Ethereum and BNB Smart Chain networks.
BNB Smart Chain (BEP20): 0x09E889BB4D5b474f561db0491C38702F367A4e4d
Is Clover (CLV) a Good Investment?
Whether or not Clover is a good investment is contradictory. Some analysts have decided that clover is a bad investment while, while others said a good investment. There is no universal decision on the future of the clover coin as an investment.’
However, the future of the clover coin depends on several factors.
Note: Cryptocurrency investment is risky. Do your own research.