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Azit

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Discover Azit's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Azit?

Azit (AZIT) is a blockchain-based utility token for a point integration platform focused on real estate and home/living services. It allows users to exchange mileage points from partner companies for AZIT tokens, which can be used for various services or exchanged for fiat currency. The token is traded on centralized exchanges like Bithumb, MEXC, and Bitget, and its market capitalization is calculated by multiplying the token price with the circulating supply.

How is Azit used?

Azit (AZIT) is the native utility token used in the Azit ecosystem, a blockchain-based point integration platform for real estate and home/living services. The token serves several purposes:

  1. Key Currency for Mileage Points: AZIT acts as a key currency for various service mileage points, allowing users to exchange points from partner companies against AZIT tokens.

  2. Exchanging Partner Company Mileage Points: Users can exchange mileage points from partner companies like Ziptoss and Trustay with AZIT tokens.

  3. Converting Mileage to Fiat Currency: AZIT tokens can be exchanged for fiat currency, providing users with a means to convert their mileage points into usable currency.

The Azit ecosystem aims to integrate various residential services, including real estate, moving, cleaning, house designing, laundry, pet care, and house insurance, allowing users to benefit from these services by exchanging their mileage points via the Azit DAPP.

How do I store Azit?

To store Azit (AZIT) tokens securely, it is recommended to use a "Cold Wallet" instead of a "Hot Wallet" provided by exchanges. Cold Wallets are offline, reducing the risk of hacking and ensuring the safety of your assets. There are two types of Cold Wallets:

  • Paper Wallet: Generate public and private keys offline using a program and print them on paper. Store the paper securely to protect your keys.
  • Hardware Cold Wallet: A physical device that stores your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, accessible only to the person possessing the device.

Hardware Cold Wallets are the preferred choice for storing large numbers of coins or tokens. They provide an additional layer of security for long-term storage of your Azit tokens.

How to buy Azit?

To buy Azit (AZIT) tokens, follow these steps:

  1. Choose a Reliable Exchange: Find a trustworthy centralized exchange that supports AZIT trading. You can refer to CoinMarketCap.com's Markets section for a list of exchanges that offer AZIT.

  2. Create an Account: Sign up for an account on the chosen exchange. This typically involves providing personal information and verifying your identity.

  3. Deposit Funds: Deposit the necessary funds into your exchange account. This can be done using various payment methods, such as bank transfers or credit cards.

  1. Navigate to AZIT Trading: Find the AZIT trading pair on the exchange platform. This is usually listed under the "Buy Crypto" or "Markets" section.

  2. Place an Order: Enter the amount of AZIT you want to buy and set the price you are willing to pay. You can choose between a market order or a limit order, depending on your trading strategy.

  3. Store Your Tokens: Once your order is executed, your AZIT tokens will be credited to your exchange account. It is recommended to transfer them to a secure wallet for safekeeping.

By following these steps, you can successfully purchase and manage your Azit (AZIT) tokens.

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History of Azit

The history of Azit (AZIT) dates back to June 2021 when the AZIT Token was first created on Klaytn's mainnet. This token was audited by Hexlant, ensuring the security and integrity of the platform. A total of 500 million AZIT tokens were created, with a specific allocation for various purposes. Twenty-five percent of the tokens were reserved for partner companies related to real estate, housing, and IoT that joined the Azit Alliance, which aimed to strengthen the ecosystem. Another twenty-five percent was dedicated to marketing, used as rewards for contributing activities such as signing up for the Azit platform, participating in events, and achieving missions. Twenty percent was allocated to the foundation for business expenses like R&D, labor costs, and facility management. Finally, five percent was set aside for long-term operation and development of the AZIT Alliance platform, including platform operation, management, and technical upgrades in the future.

Azit's journey continued with its listing on various exchanges. The token was listed on KLAYswap on February 7, 2022, followed by MEXC on March 19, 2022, and Bithumb on December 16, 2022. These listings marked significant milestones in the token's history, increasing its accessibility and exposure to the broader cryptocurrency market.

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How Azit works

The cryptocurrency Azit (AZIT) is a utility token designed to facilitate transactions within a blockchain-based ecosystem focused on real estate and home/living services. Here's how it works:

Key Features
  • Native Token: AZIT is the native utility token used within the Azit ecosystem.
  • Mileage Points: AZIT acts as a key currency for various service mileage points. Users can exchange their mileage points from partner companies for AZIT tokens.
  • Exchange: Users can exchange AZIT tokens for fiat currency or use them to access services within the ecosystem.
  • Ecosystem Partners: Azit has partnered with companies like Ziptoss (real estate service), Trustay (real estate rental and asset management), and MarketB (home and living e-commerce platform), among others, to create a comprehensive network of services.
Azit DAPP
  • Point Integration: The Azit DAPP allows users to integrate and exchange points from different partner companies, making it a central hub for managing and utilizing mileage points.
  • Service Access: Users can use AZIT tokens to access various services within the ecosystem, including real estate, moving, cleaning, house designing, laundry, pet care, house insurance, and more.
Ecosystem Expansion
  • Growing Network: Azit is continuously expanding its ecosystem by adding new partners and services, enhancing the utility and value of the AZIT token.
  • User Benefits: The Azit ecosystem aims to provide users with a seamless and convenient experience by allowing them to manage and utilize their mileage points across different services.

In summary, Azit (AZIT) is a cryptocurrency designed to facilitate transactions and point integration within a blockchain-based ecosystem focused on real estate and home/living services. It enables users to exchange mileage points for AZIT tokens, which can then be used to access various services or exchanged for fiat currency.

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Azit's strengths

The token Azit (AZIT) has several strengths that contribute to its value and potential in the cryptocurrency market:

  1. Real-World Partnerships: Azit has formed partnerships with companies like Ziptoss, Trustay, and MarketB, which are integrated into the Azit DAPP. This integration allows users to exchange their mileage points for AZIT Tokens, enhancing the token's utility and adoption.

  2. Ecosystem Expansion: The Azit Alliance is steadily expanding its ecosystem to include various residential services such as real estate, moving, cleaning, house designing, laundry, pet care, and house insurance. This broadens the token's use cases and increases its potential user base.

  3. Blockchain Mileage System: Azit's blockchain mileage system allows users to accumulate points through frequently used services and redeem them for larger transactions, such as real estate contracts. This system creates a stable value for the Blockchain Mileage and provides discount benefits when purchasing it with AZIT Tokens.

  1. Klaytn Blockchain: Azit's platform is built on Klaytn, a hybrid open-source blockchain project known for its efficiency, decentralization, and scalability. This foundation provides a robust infrastructure for the token's operations.

  2. Crypto-Wallet and Exchange Integration: The Azit platform includes a crypto-wallet (DApp) for staking and transactions, as well as integration with external crypto exchanges. This facilitates the exchange of AZIT Tokens for fiat currency or other cryptocurrencies, increasing the token's liquidity and accessibility.

These strengths collectively contribute to Azit's potential for growth and adoption in the cryptocurrency market.

Azit's risks

Azit (AZIT) is a cryptocurrency project, and as such, it carries several financial risks that investors should be aware of. Here are some of the key financial risks associated with Azit:

  1. Market Volatility: Cryptocurrency markets are known for their high volatility, which means that the value of Azit can fluctuate rapidly and unpredictably. This volatility can result in significant losses if the market moves against the investor.

  2. Liquidity Risks: Azit, like many other cryptocurrencies, may have limited liquidity, making it difficult to buy or sell the token quickly enough or at a favorable price. This can lead to significant losses if an investor needs to exit a position rapidly.

  3. Regulatory Risks: Cryptocurrencies are still largely unregulated, and governments or regulatory bodies may impose strict regulations or even bans on certain types of cryptocurrencies. This could negatively impact the value and usability of Azit.

  1. Security Risks: As with any digital asset, Azit is susceptible to hacking and other cybersecurity threats. If the project's security measures are compromised, investors may lose their funds.

  2. Project Failure: Azit, like any other project, carries the risk of failure. If the project does not meet its objectives or if the development team is unable to deliver on their promises, the value of the token may decline significantly.

  3. Competition: The cryptocurrency market is highly competitive, with many projects vying for investor attention. If Azit fails to differentiate itself or provide a unique value proposition, it may struggle to attract and retain investors.

  1. Exit Scams: There is a risk that the project developers may abandon the project and abscond with investor funds, a phenomenon known as an "exit scam."

  2. Price Manipulation: The cryptocurrency market is susceptible to price manipulation, where individuals or groups artificially inflate or deflate the price of a token for personal gain. This can result in significant losses for unsuspecting investors.

  3. Wallet Risks: Investors may lose access to their Azit tokens if they lose their private keys or if their wallets are compromised.

  1. Taxation and Legal Risks: The tax and legal status of cryptocurrencies is still evolving and may change over time. Investors may face unexpected tax liabilities or legal issues related to their Azit holdings.

It is essential for investors to carefully evaluate these financial risks and conduct thorough research before investing in Azit or any other cryptocurrency project.

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Azit's ecosystem

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Azit’s team

  • Ajit K Dubey: Ajit K Dubey is associated with the cryptocurrency Azit (AZIT), which is a blockchain-based point integration platform for real estate and home/living services.

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