If you’re looking for an energy-wasting cryptocurrency to make you rich overnight, EverGreenCoin (CCC:EGC-USD) isn’t it. Instead, EverGreenCoin is focused on core foundational principles intended to keep the Earth healthy and livable for everyone.
Maybe you’ve heard of other green cryptos. This is a growing category because some of the more popular digital assets are notorious for using up too much energy during the mining process.
In contrast, EverGreenCoin is truly the ultimate clean crypto. The carbon footprint is minimized, and investors have charitable opportunities you might not find with other cryptocurrencies.
Plus, as we’ll see, EGC offers a generous reward for staking. So, don’t assume that a charitable coin can’t be a profitable coin, as you can actually have the best of both worlds.
Analyzing the EverGreenCoin Price
EverGreenCoin hasn’t been around as long as some of the more famous and established cryptocurrencies. Yet, it’s been around long enough that we can can analyze its price history.
EGC topped out on Jan. 9, 2018, at around 78 cents. That’s quite a climb, considering that the token had been trading near 1 cent for a while.
The problem was that cryptocurrency prices generally peaked in late 2017 and early 2018, before embarking on a prolonged bear market.
As it turned out, EverGreenCoin got caught up in that crypto-market rise and decline.
By November of 2019, the EGC price was back down to around 1 cent. This was undoubtedly disappointing to folks who bought during the euphoria phase.
As of Nov. 13, 2021, EverGreenCoin was trading at approximately 2.5 cents.
So, maybe there’s a comeback in progress. If the price gets even halfway back up to its 2018 peak, that would be an epic move.
Charity at the Core
“We’d rather spend the Foundation’s funds on planting trees in the ground and putting desks in a classroom, than on an airdrop and unnecessary costs.”
That’s a quote from the EverGreenCoin white paper, and it pretty well sums up what this cryptocurrency is all about.
Don’t get me wrong – you can make money as an EGC investor.
However, the project involves a non-profit blockchain that’s driven by charity and positive impact, rather than commercial gains.
EverGreenCoin’s overall charitable mission comprises four “branches.”
First, there’s EGC Renewables, which focuses around renewable energy. This includes the Solar Staker project, a “device that only needs sunlight and an internet connection to stake EGC and process transactions.”
Next, there’s EGC Water, which specializes in water purification and conservation initiatives.
Third, there’s EGC Wellness, which includes efforts to promote both physical and mental health.
Finally, there’s EGC Gardens supports, which promotes gardening, farming and agricultural initiatives.
I’ve reviewed many different blockchain projects and coins, but this has got to be the most altruistic one I’ve seen so far.
Another aspect of the project is that it avoids energy-wasting protocols.
The Proof-of-Work consensus algorithm is prevalent in some other cryptocurrencies, but it relies on consuming energy.
In contrast, with Proof-of-Stake, electricity isn’t needlessly wasted.
Thus, with EverGreenCoin, “the energy consumed is no greater than running a word processor on your computer and can be done in the background during times you already have your computer on and does not need to be done continually.”
Moreover, the reward for staking is always 7% annually.
What’s great about the 7% staking reward is that that it’s not so high that it over-inflates the currency.
At the same time, it’s still big enough to incentivize people to make a long-term investment.
The Bottom Line
I hope you weren’t looking for the next get-rich-quick cryptocurrency, because that’s not what EGC is all about.
There are monetary rewards for participating in the EverGreenCoin ecosystem, but that’s not the main focus of the project.
So, if charity and sustainability are your priorities, then the EGC token deserves a place in your crypto portfolio.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.