SPELL coin is the governance token of the Abracadabra.Money decentralized lending platform.
It is an ERC-20 token and is used as an incentive and governance token within the ecosystem. SPELL is mainly used for governance in the Abracadabra protocol and earning fees from the protocol itself. Abracadabra uses interest-barring tokens to mint Magic Internet Money - a USD-pegged stablecoin. SPELL’s maximum supply is 210,000,000,000 and is distributed for team allocation, global farming incentives, and during the initial DEX offering.
How To Buy Spell Token or Add it to your Strategy
The fastest, most convenient way to purchase Spell Token is to purchase it on ICONOMI. We check Spell Token live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Spell Token by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Spell Token is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Spell Token, we recommend you read the next section, as copying might be a better approach.
Add Spell Token to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Spell Token in their structure.