Blowing your money on Fartcoin (FRTC) may seem like some kind of pun and let me tell you that it’s definitely intentional. It’s a brand-new cryptocurrency that seems to have only been in circulation since last year but it’s real, it’s out there, and investors are betting on it.
There are two conflicting pictures about what’s going on with Fartcoin. If you look it up on Coinbase, it’s not tradable there but they are keeping track of its movements. They’ll probably make it tradable if it starts doing something. But currently, it’s sitting at $0.00000013. So, you can buy over 7 million of them for a dollar. The only problem is, they won’t sell them to you.
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But if you research Fartcoin on CoinGecko or CoinMarketCap, you’ll see it sitting around $0.05049. So, you can actually buy about 20 of them for $1. You might also notice that data doesn’t go that far back so this coin isn’t very old at all. Coinbase has data that goes back to May 2023. CoinGecko and CoinMarketCap don’t go back that far. Ironically, Coinbase reports that it’s getting all its information from CoinGecko and CoinMarketCap as well as other third parties. That seems a little odd to me.
I couldn’t find it on Robinhood, which is where I have traded cryptocurrency since I bought Dogecoin years ago when I purchased 25,000 coins in 2020 for $100 and made about $12,000 in May of 2021. That’s the last time I’ve played with the Monopoly money but Fartcoin just might get back in the game.
For those of you who don’t know how it works, it’s digital money. It can’t be handed to people like a dollar bill but think of it like a debit card that is tied to your bank account. When you use your debit card, the money is deducted from your account but the real money behind it is still sitting in a bank vault somewhere with everyone else’s. The only thing separating your money from theirs is a ledger that the bank keeps to keep it all straight and you are encouraged to keep your own records just in case the bank gets it wrong.
Now, you can stop thinking of digital currency in that way. I only said that to get you thinking about your ability to make purchases without the actual presence of money. Cryptocurrency is only online and as of now, it’s unregulated by the United States although they are working on it, and some countries have taken the steps to gain control of the ghost money that can pass from one person to another requiring only the sender’s public key and the recipient’s public key. A private key is used to authorize the transaction and a network of cryptocurrency miners works to verify the transfer.
If you find that hard to understand, just think about your physical bank account and how much you know about where your money actually is. All you really know is that you can have access to your money most of the time and it’s sitting somewhere. The concept of cryptocurrency was an idea for years until Satoshi Nakamoto finally created Bitcoin and the great mystery is no one knows who that actually is or if it’s a group of people. But Bitcoin was offered to the world for zero dollars and it was supposed to be unregulated so that it could actually be a currency that equalizes everyone who holds it. Lofty dreams but they’re worth having even if at the end of the day, rich people will swoop in and find a way to grab it for themselves as soon as they find the value in it.
Early adopters of the currency were able to mine it for relatively cheap, which means they could dedicate computers to the network to help make calculations and earn the coins. In the early days, Bitcoin was traded or mined. Then, it jumped up in value and millionaires were made. I remember hearing about it when it hit $7,000 a coin. From zero to $7,000 is not a bad investment. Now, it sits at almost $70,000!
It’s not just traded or mined anymore. It can be used to buy things now because there are merchants throughout the world who recognize it as legitimate currency. It has become such a huge industry that entire mining facilities have been made with warehouses full of computers doing the calculations to earn every coin it possibly can. But with new crypto being created every other day, there will always be a need for miners who want to get in on the action.
Back to Fartcoin, this is how great the human experience is. A coin that doesn’t take itself too seriously but has the potential to make investors a lot of money. No one knows if it will explode or be a silent creeper but at $.05, investors might just get a good whiff.
Sadly for U.S. investors, there is no exchange available yet that I can find. A source says Raydium, HTX, and MEXC are three exchanges that offer Fartcoin but…
Raydium doesn’t appear to have Fartcoin…
HTX: Service is Suspended in the U.S.
MEXC: Access Restricted in the U.S.
If you want it, keep your eyes open in the exchanges where U.S. investors are allowed. It’s liable to pop up when they find value in it.
