What is StartCoin?
A Guide to Understanding, Buying, Selling, Sending & Mining StartCoin
An In-Depth StartCoin Guide by Americas Cardroom
Bitcoin, Ethereum, cryptocurrency, Binance…… Do these words sound familiar to you? Are you hearing them more frequently these days? That’s because the cryptocurrency space has exploded in popularity over the past few years. Let’s take a look at how and why.
Cryptocurrencies are a form of digital coins that were initially introduced as an alternative to fiat currency that is currently the prevalent means of exchange. This new and trending technology was developed back in 2009 when the first cryptocurrency, famously known as Bitcoin, first originated.
Cryptocurrencies have become one of the safest ways to transact money around the world within a matter of minutes. That’s right, we just categorized digital currencies as the safest option. That’s because these currencies, or in simpler terms: coins, are based on blockchain technologies that utilize encryption algorithms that are exceptionally difficult to hack (though not impossible). This is what makes decentralized systems so incredible, there is no single point of failure that can destroy the entire ecosystem, meaning that entities such as banks and governments do not have the type of control over cryptocurrencies that they have over fiat.
The last thing that you should be aware of before we leap into StartCoin is that each cryptocurrency, or coin, has its own unique features and properties. These features allow each digital currency to do things beyond just the transaction of money.
As mentioned above, StartCoin is a form of digital currency that was developed to promote crowdfunding. The brains behind StartCoin had developed unique ways to reward StartCoin holders beyond the equity received from investing in crowdfunding projects and start-ups.
One of the benefits of making transactions with StartCoin is that they only require a minute of transaction time (and the same amount of time of confirmation from the other side), making StartCoin faster than Bitcoin and other similar currencies.
So with that in mind, let’s take a deep dive into StartCoin and explore what it’s all about!
StartCoin: A Brief Introduction
StartCoin, a blockchain-based digital currency, entered the cryptocurrency market in 2014. The basic idea behind StartCoin came from another digital cryptocurrency, Litecoin. However, the hashing algorithm of StartCoin is quite different from its predecessors.
The purpose behind initiating this project was to promote crowdfunding and charitable causes. In short, this coin is a kind of reward token for the users if they share and support crowdfunding projects.
Along with supporting charitable activities, StartCoin also encourages its users to share and support each other’s ideas. This creates a unique platform for like-minded people and entrepreneurs who are working to make the world a better place.
StartCoin’s value, circulation, and examples
The current total supply of StartCoin tokens is 70,782,220 coins, with 45,079,785 of them currently being in circulation. The latest known price of StartCoin is 0.01066 USD dollars, which is up 6.5 percent over the past 24 hours.
StartCoin’s market-cap currently sits at $480,902 USD while the fully diluted market-cap is $755,091 USD. The total coin supply of StartCoin is 84 million and block rewards get halved each year.
The proof of work algorithm that StartCoin uses makes StartCoin one of the most secure cryptocurrencies available in the crypto market.
What is the Symbol of StartCoin?
Just as with every currency on the market, StartCoin has its own symbol representing it, which is a dollar symbol embedded within a coin.
Is Startcoin a private currency?
The answer to this question is that StartCoin is a public cryptocurrency and is available for public use and therefore not a private currency.
How does StartCoin gain its value?
The main way through which StartCoin gains its value is through it being bought and sold to promote crowdfunding projects. The more it is mined and transacted, the higher its valuation goes.
How secure is StartCoin?
Although StartCoin is secure in the same way most cryptocurrencies are (a public ledger), the downside is that StartCoin, to date, has not published any research and white papers. Therefore, algorithms and strategies for distributing StartCoins to projects are not available and even the team that worked on StartCoin has not been fully identified yet other than Max Keiser and Jamie Scott.
Who is backing StartCoin?
When launched, Startcoin gained the backing of Max Keiser, a financial journalist and maxcoin founder, and has partnered with the ANX platform. This partnership helped StartCoin produce a joint-sponsored debit card. Moreover, the equity crowdfunding firm BankToTheFuture is also backing StartCoin.
How to set up a StartCoin wallet?
The thing about StartCoin is that it works on a separate proof of work algorithm. Therefore, a user of StartCoin would have to download and set up another wallet for safe storage of StartCoins. But you need not worry, users can easily get access to these wallets from Startcoin’s official website.
Wallets can are available for different operating systems such as:
- Mac OS
What does it mean to ‘mine’ StartCoin?
Simply put, the mining of StartCoin is a procedure in which bundles of transactions, known as blocks, are verified, and added to other blocks of transactions, creating a blockchain. This is done by solving some mathematical problems and for their support in doing so, miners receive StartCoins, which they can invest or convert to other cryptocurrencies such as Bitcoin and Ethereum.
How to mine StartCoin?
Before jumping into mining of StartCoins, a user must have first downloaded a StartCoin compatible wallet through StartCoin’s website. The next step is to download and set up the appropriate mining software.
How and where to buy StartCoin cryptocurrency?
There are a few different ways in which a user can buy StartCoins but most often, purchases of digital currencies are highly related to the type of fiat currency a user uses to buy coins.The purchase of StartCoin can be done using Euros, USD, or other cryptocurrencies such as Bitcoin and Ethereum. The procedure is quite simple, as a user just needs to input the number of coins they’d like to purchase via a cryptocurrency exchange that supports the project and then select their method of payment.
How to send StartCoin to your wallet?
- Step 1: Download a StartCoin wallet from their official website.
- Step 2: Create a new StartCoin wallet.
- Step 3: Log in with your StartCoin wallet.
- Step 4: Send and trade StartCoins.
StartCoin is a digital currency aiming at supporting crowdfunding causes. We have covered the essentials of buying StartCoins and now it is up to you to do your own research and make sure to invest in a safe and secure manner that will protect your investment in the case of an extended market downturn.