As the cryptocurrency world grows, so does the variety of coins you can buy.

Some coins, like Bitcoin and Ethereum, have made people rich in the last year. Bitcoin is up 470% in the last 12 months, for example.

Now, everyone is looking for the next coin that will produce gains like that. Many think the EverGrow Coin (EGC) might be next, for instance.

But you might want to see this EverGrow Coin forecast before you start buying...

Hoping for a big future return could easily blind us to what really matters with cryptocurrencies: how they are designed and what real value they contribute to the world.

When people don't pay attention to these items, they blindly invest in the first coin they see. The trouble with that is that new coins are constantly being added to the market. Thousands have been minted so far, and counting - because it's just not that difficult to do.

This kind of competition is generally good for any market, but the number of uneducated investors in cryptocurrency has left the door open for some developers to create coins with sketchy backgrounds.

These "sketchy" coins only carry value because people have invested in them, not because they are genuinely stable investments.

That can be said for EverGrow Coin. While it's breaking previous crypto growth records, the coin's sketchy background might make you want to err on the side of caution.

What Is EverGrow Coin?

EverGrow is called a "reflection coin." That refers to how the coin is designed.

A reflection mechanism is defined as a process in which tokens act as a self-generating mechanism for their holders. With every transaction taxed, you receive tokens automatically simply by holding on to them.

It's a deflationary token designed to become scarcer over time. Holders of EGC earn 8% rewards from every buy/sell transaction in Binance; it's then automatically sent to your crypto wallet as long as you're holding EGCs.

Funded by a 3% strategic buyback fee, 3% tokens are collected from every transaction and converted to Binance Coin (BNB), then stored in EverGrow contract.

The wallet is known as BuyBack Wallet. When enabled, it purchases EGC directly from exchanges and removes the purchased tokens permanently from circulating supply. This simultaneously makes green candles on the price chart while 2% of every transaction is transferred into the liquidity pool for Pancakeswap.

This helps create a price floor and is designed to keep the coin stable.

The coin is even designed with an "Anti-Whale" function that ensures no sale amounts higher than 0.125% of the total supply are possible at once.

The Anti-Whale can't stop whales from selling. But having a maximum limit works as an indicator when a Whale is trying to sell their tokens and avoids price manipulation.

EverGrow sounds like an interesting and safe design; however, it's not the first of its kind.

And I don't mean it's similar to another coin in the way all coins are modeled after Bitcoin.

It's a mirror image, absolutely identical to another, older coin. And that's made a lot of investors skeptical...

EverGrow Allegations

SafeEarn Coin (SAFEARN) called out EverGrow on social media recently for stealing its idea and makeup.

In the tweet, it accused EGC of not only using all the same text on its website to promote EverGrow, but the same exact code as SafeEarn to develop it.

In fact, nearly every word on EverGrow's website is taken from SafeEarn's website.

This made a lot of people upset. But it also split the sentiment of its investors between traders who care and traders who just want to profit by any means possible

Many people still look at EGC as a legitimate long-term investment. They are very upset with the lack of transparency from EverGrow despite that.

Although the argument can be made that all cryptocurrencies copied Bitcoin in one way or the other, this blatant plagiarism is definitely a red flag.

That being said, as long as investors still buy the coin, it will carry value.

EverGrow Coin Forecast

Although there is reason to remain skeptical of EverGrow Coin, it's clear many people are not.

EGC broke previous crypto records in reaching 20,000 holders and $200 million market cap in just two weeks since launching.

The coin's pre-sale sold out in under five minutes with an initial market cap of $125K. It went on to reach the $200 million mark over the next 14 days and paid over $3 million Binance USD in rewards collectively to all its holders.

$200 million market cap is still comparatively small to other coins that have mostly passed the $1 billion threshold. But most coins don't tout the rewards EGC does.

Analysts say that the coin is twice as rewarding as its nearest competitor, because on launch half the tokens were burned. An additional 1% has been burned since.

One analyst calculated that if you held 100 billion EverGrow Coins, which would cost you about $35,000 today, and the market cap reached $500 million, with a 5% daily volume, you'd earn $455 a day in passive income.

One EverGrow coin goes for $0.000000299 right now. Some analysts have it reaching $0.00000082 by 2023, but that's if the coin is able to survive SafeEarn's allegations.

Regardless, it's probably wise to stay away from EverGrow, or at least err on the side of caution and understand the risk involved.