I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.
See all posts Frank GogolEMAX Crypto: What You Need to Know
Updated on April 9, 2024
Written by
Written by
Reviewed by
Rohit Mittal
Reviewed by
Rohit Mittal
Rohit Mittal is the co-founder and CEO of Stilt. Rohit has extensive experience in credit risk analytics and data science. He spent years building credit risk and fraud models for top U.S. banks. In his current role, he defines the overall business strategy, leads debt and capital fundraising efforts, leads product development, and leads other customer-related aspects for the company. Stilt is backed by Y Combinator and has raised a total of $275M in debt and equity funding to date.
See all posts Rohit Mittal
At a Glance: Ethereum Max (EMAX) is an ERC-20 token on the Ethereum blockchain, but it is not officially associated with the Ethereum network or development community. The project lacks transparency regarding its development team, making it difficult to hold them accountable. EMAX has no real utility and relies on marketing and endorsements for demand. Its value is driven by intense marketing and a misleading name. EMAX can be bought and sold on decentralized exchanges (DEXs) or some centralized exchanges, but it is not listed on major U.S. exchanges.
There are thousands of cryptocurrencies in existence. Hundreds of new ones are created every single day. In this river of crypto, it can be difficult to sort the good from the bad. As a rule of thumb, the vast majority of cryptocurrencies currently in existence are completely useless and should be avoided. Is EMAX one of them? Let’s take a closer look at the new Ethereum Max cryptocurrency.
What is Ethereum Max (EMAX)?
The first important thing to understand about Ethereum Max is its name. Its name might confuse you into thinking Ethereum Max is officially associated with the Ethereum network in some capacity. It is not.
The Ethereum blockchain is currently the world’s leading smart contract blockchain in terms of users and monetary transaction value.
Ethereum Max is an ERC-20 token on the Ethereum blockchain—one among thousands. It is in no way officially or unofficially associated with the Ethereum Foundation or the software development community that maintains the Ethereum blockchain.
The name ‘Ethereum Max’ should not trick you into thinking that this project is affiliated with the Ethereum blockchain development community in any way. It is very easy for anyone to make a token with any name they like.
The project’s website and whitepaper make no mention of who the members of the development team are. This is never a good sign for a crypto project because it makes it very difficult for anyone to hold them accountable for their behavior.
Knowing who is on the development team and what their qualifications are is also important for investing fundamentals. Short-term day traders may only hold a given cryptocurrency for hours or even minutes at a time, seeking profitable trades. However, for long-term investors, it is important to understand the fundamentals of any investment.
Is Ethereum Max (EMAX) a Good Investment?
Fundamentals are the answers to the following kinds of questions:
- What does the project do that has never been done or what does it do better?
- Is the thing that it does worth doing?
- Who created it and what are their credentials?
- Do people value the thing that it does?
For memecoin projects, the fundamentals make them a bad long-term investment. The only thing that a memecoin does is be popular for a short time. People value popular crypto for as long as it remains popular. That paradox means the value of a memecoin can collapse very quickly. This makes memecoins only suitable for speculation.
Other cryptocurrencies, such as REN or GRAPH, are used to provide Defi services. People value these services so the utility tokens for them will be required more as time goes on. In addition, the development teams of those kinds of projects are known professionals in the crypto software field. That makes utility tokens a potentially good longer-term investment position.
Ethereum Max is not a memecoin, and it is also not a utility token—it is not required for any useful service. Since EMAX has no purpose but also doesn’t have the inherent social draw of being associated with a popular meme, the only driver of demand for it is marketing.
Paid-for endorsements by U.S. celebrities (none of them know for having expertise in investment, finance, or cryptocurrency) have increased the profile of Ethereum Max, particularly among people who are unfamiliar with cryptocurrencies in general and how they work.
How Does Ethereum Max Work?
It is difficult to describe how Ethereum Max works because it doesn’t do anything except exist. ERC-20 tokens are very easy to create with minimal programming skills. The Ethereum blockchain is a completely public blockchain. Anyone can create a token with any name they want and create a marketing buzz around it, without the need to make it useful.
The project’s whitepaper and roadmap make very ambitious claims for the future of the ‘Ethereum Max Ecosystem’, but in 2021, the uses of EMAX crypto remain mostly imaginary.
Its current value seems to be derived mainly from demand driven by an intense marketing campaign combined with a misleading name.
The project’s website claims that the token provides EMAX wallet holders with a 3% share of the value of every transaction. It is unclear how this is achieved because the contract code for the EMAX token is not available to the public.
Overall, the EMAX token works by being popular, like a memecoin. However, unlike a memecoin, there is no underlying meme driving its popularity so the project relies on marketing to unsophisticated buyers to increase demand for EMAX crypto.
How to Buy EMAX Crypto?
If for some reason, you choose to buy the EMAX crypto-token, you can do so on a decentralized exchange (DEX) or centralized exchange. EMAX is an ERC-20 token, so you can trade it for any other ERC-20 token or ether (ETH).
You can trade on a DEX such as Uniswap, 1inch, or SushiSwap. All you have to do is visit the exchange’s official website, then connect your crypto wallet. You can use any of the leading wallets such as Trust Wallet or Metamask.
Once your wallet is connected, you can follow the instructions to trade for EMAX.
According to the Ethereum Max Website, you can also buy EMAX on a few centralized exchanges such as HotBit, ConsBit, or Bilaxy. None of the major, trusted U.S. exchanges list EMAX for trading.
If you choose to buy EMAX crypto from a centralized exchange, you may need to provide some personal details when creating an account. AML and KYC (anti-money laundering and know your customer) regulations in the United States and around the world often require crypto exchanges to record this information about their customers. AML and KYC regulations are intended to help prevent and investigate major financial crimes.
How to Sell EMAX Crypto?
You can always sell EMAX crypto on the same exchange you bought it from. The process for selling EMAX crypto is almost the same as buying it.
Read More
- How to Make Money with Cryptocurrency
- How to Withdraw from Binance
- How to Transfer From Coinbase to Coinbase Pro
- How to Transfer from Coinbase to Binance
- How Does Cryptocurrency Gain Value?
- How to Read Crypto Charts
Final Thoughts
EMAX crypto is a token created by unknown developers of the Ethereum Max project. The token’s name may trick you into thinking it is an official product of the Ethereum blockchain, or the Ethereum Foundation. It is not. If you feel compelled to buy EMAX crypto, you can trade it for any other ERC-20 token on a decentralized exchange, or a few centralized exchanges.
Frank Gogol
I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.