What Is Paris Saint-Germain Fan Token?

About Paris Saint-Germain Fan Token (PSG)

The Paris Saint-Germain Fan Token (PSG) is a cryptocurrency that enables football fans to participate in the life of the Paris Saint-Germain football club. Owners of this crypto can use applications and services of the Socios platform for this purpose. In order to influence the decisions of the club, fans can use smart contracts in various polls, which are published by the football club. However, Paris Saint-Germain is obliged to act on the results of such surveys.Standard PSG Fan Tokens are not NFTs and do not differ from each other. However, Paris Saint-Germain allows PSG holders to participate in the NFT draw and get tickets for matches, collectible items, invitations to events, excursions and meetings with players,virtual badges. Thus, the main goal of creating such tokens is to bring sports events to a new level and expand the interaction between teams and fans.PSG is launched on Chiliz Chain, which is a sidechain of the Ethereum network that uses the PoA (Proof of Authority) algorithm to confirm transactions. In the near future, the Socios platform plans to implement PSG token staking. In the meantime, users can get this cryptocurrency on exchanges or use token hunting.

Where did Paris Saint-Germain Fan Token (PSG) come from?

Fan Token is a relatively new direction of cryptocurrency development that appeared several years ago. French football club Paris Saint-Germain entered the digital age and issued its own tokens, with the Socios platform as the intermediary between fans and the club. The football club announced the launch of its own cryptocurrency in January 2020. Thus, it became one of the first to issue fan tokens.

What are the advantages of Paris Saint-Germain Fan Token (PSG)?

1. Voting when making decisions
   
   Fans of the Paris Saint-Germain football club can use cryptocurrency to participate in decision-making processes regarding the club. For example, they can choose what design the team's bus will have, what will be written on the captain's armband, or give their opinion at the presentation of club awards.
2. Token hunting
   
   The Socios platform provides fans with the opportunity to receive PSG for free through token hunting. Fans are encouraged to take a walk around the area to find more PSG and CHZ tokens. In general, it is something like Pokemon Go, but users collect fan tokens instead of Pokemons.
3. Rewards and sweepstakes
   
   With PSG tokens, users can receive rewards such as tickets for matches, digital badges, cashback - offers from official online stores, and more.

What are the disadvantages of Paris Saint-Germain Fan Token (PSG)?

1. High level of token centralization
   
   All decisions regarding the issue, sale, and distribution of the token are made by the management of Paris Saint-Germain.
2. No interest from investors and traders
   
   At the moment, the PSG token has not yet attracted interest from investors and traders due to its limited scope.

How to buy Paris Saint-Germain Fan Token (PSG) on SimpleSwap?

If you are interested in the PSG token and would like to get it fast and easily, then you can use SimpleSwap and follow the instructions below:

1. For example, you want to swap BTC for PSG. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
2. Select PSG in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
3. Click the Exchange button.
4. Enter the Recipient's Address. PSG will be sent. Be careful and make sure you use the correct address.
5. Create the exchange.
6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to PSG exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.