Launched on the 6th of March, 2014 by an anonymous developer whose identity still remains unknown, New York Coin popularly referred to as NYC is among the fastest growing cryptocurrencies today. New York Coin (NYC) recorded a staggering 400% value rise between the 1st and 7th of January 2018. NYC 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.
How Does New York Coin Work?
Being around for 4 years means New York Coin (NYC) 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.
What Makes 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.
How To Purchase 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.
In a Nutshell
New York coin growth in the last week is equivalent to the growth of other cryptocurrencies record in a whole month. It is also worth the note that there have been no recorded cases of virus or a hacker in the last 4 years. With millions of cryptocurrency users hinting at purchasing NYC in the nearest future, now seems to be the best time to invest in New York Coin.