New York Coin, or NYC coin, is among the fastest growing cryptocurrencies today. New York Coin (NYC coin) recorded a staggering 400% value rise between the 1st and 7th of January 2018, and New York Coin, or NYC coin, continues to be poopular. NYC coin records a daily trading volume estimated at $1.24 million and a market cap of $90.59million. NYC currently holds the 217th position on the cryptocurrency chart.
Just How Does New York Coin Work?
Being around for 4 years means New York Coin (NYC coin) runs of the peer to peer platform; users can transfer funds to other users directly via their site. NYC has also been integrated into BlockChain technology which allows all users to view the details of a particular amount of transactions in groups called blocks. BlockChain also provides links for users to view older transactions. New York coin is among the few true cryptocurrencies, which means there is no pre-mining of coins, coins used for transactions are bought.
Enthusiasts who have kept an eye on the developments in New York will know this state isn’t too welcoming when it comes to cryptocurrencies. More specifically, New York state is one of the more regulatory-hostile places in the US when it comes to Bitcoin and similar currencies. Ever since BitLicense was introduced by Benjamin Lawsky, most companies offering Bitcoin services have left the area. It is highly doubtful this situation will change in the near future.
Big was people’s surprise when they found out New York now apparently has its own cryptocurrency. Or that is what the team behind NewYorkCoin would like others to believe, anyway. Given the regulatory “heat” on anything related to cryptocurrencies in this part of the US, it seems highly doubtful the state would get its own digital currency out of the blue.
Why Is New York Coin Unique?
Recent successes recorded by the New York Coin (NYC) can be attributed to some new features that were integrated into the network. Some of the new features of NYC includes;
- Superfast transactions; NYC has reduced waiting time for transactions to be confirmed to an outstanding 30 seconds. The official site (nycoin.net) claims that the network is 20 times faster than Bitcoin.
- Zero transaction fee; All transactions on NYC are free.
- Easy mining using wallet and pool mining.
- NYC offers free transactions of funds to anywhere in the world.
- NYC can now be used at retail levels for smaller funds transfer.
- High-security levels; there has been no recorded case of a hacker or virus attack for the last four years.
Buying New York Coins
Before you can start purchasing New York coins, you will need to have an account with YoBit (visit yobit.net to register). After creating a YoBit account or logging in to an existing account here are the steps to take to purchase your New York coins.
- For a new YoBit account, it is advisable to turn on the Two Factor Authentication that will pop up.
- Click on the Wallet Tab, a list of all cryptocurrencies will follow, search for New York Coin and select.
- Proceed by clicking on the Deposit tap.
- A window with deposit address will appear. From there you can select your means of payment
New York Coin coming to Binance?
There is chatter amongst the crypto world and the insiders we know that Binance is working to bring New York coin, among a dozen others in its next wave. If you have yet to register for this site, sign up now before they close new registrations. Try every day, as once New York coin is here your ability to move the crypto will enhance your ability to move assets.
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