Have You Heard of Nimiq Cryptocurrency?

      Have you heard of Nimiq Cryptocurrency? Well neither had I until I watched a YouTube broadcast by Coin Bureau about 6 months ago. To be 100% honest, I had forgotten all about this currency until recently when I noticed it being suggested by yet another YouTube Channel. With occasions like this occurs, I usually decide to do additional research into the project to see if it is worthy of my attention.

Nimiq Cryptocurrency
                        Nimiq Cryptocurrency

   Nimiq Cryptocurrency  which is traded under the symbol Nim is based on blockchain technology that is intended to be used for currency. The technology behind Nimiq is focused on decentralization and being resistant to censorship. This project uses blockchain technology similar to Bitcoin, but was designed to run on a computer browser. Because Nimiq has been designed to function within the browser window, it allows ease of use which is essential for adoption.

    This crypto project is intended to be currency. Not all blockchain projects are intended to be cryptocurrency and this can cause confusion for many novice beginners as adoption takes place. Nimiq Cryptocurrency allows its users to pay online, transfer funds internationally, receive donations, storage of funds, and etc.

     You are probably thinking how does Nimiq work and what makes it special? Nimiq Cryptocurrency is a browser based blockchain which allows for friction-less payment protocol. From its inception, Nimiq Cryptocurrency has been designed to work with the newest web based technologies like IndexedDB, JavaScript, WebAssembly, and WebRTC. In laymen terms, Nimiq has been designed to run on web browser applications.

Nimiq Cryptocurrency is built upon web based technologies, which allows Nimiq is to be mined through web browsers.  This is quite different than any other cryptocurrency that I have researched in the past. I found this to be quite intriguing to say the least. The set up process for browser based wallet was very easy. It was so easy, I actually thought that I did something wrong. Once the wallet was set up, I received 1 NIM from a crowd funded source.

  Nimiq Mining was equally as easy to set up. I was mining in the matter of minutes instead of days without unsaid amount of funds spent. If you have ever tried building a mining rig in the past, you know exactly what I am talking about.  These projects can become very expensive with little to no return. Nimiq offers its miners the ability to mine on their web browser with little to no effort.  They also offer more complicated mining setups, but this requires downloading proprietary software. 

     I decided to give the advanced mining software a try since I already had experience in mining cryptocurrency. I didn’t have much luck with the software provided, but quickly found a YouTube presentation provided by Nimiq that suggested Nimiq Desktop Miner . I had immediate success with this miner, but I soon discovered that my CPU was over heating and I had to lower the settings. If you have never mined cryptocurrency in the past, I suggest using just the browser miner to avoid irreversible damage to your computer.

    Nimiq is currently available on respected exchanges like Kucoin and HitBTC under the symbol NIM. I have never used HitBTC, but I have used Kucoin successfully in the past. If you are going to use Kucoin, I have provided links that will provide a small affiliate reward to True Life Blogs if you decide to use their service.  If not, that is okay to.

    Their are only a few cryptocurrencies with the ease of use that Nimiq offers .Nimiq is currently trading at $0.000663 which makes it quite a steal, but a very high risk investment. At its current valuation, Nimiq Cryptocurrency is an excellent investment for speculative investors. It has a long way to go before it can reach adoption, but if they manage to pull it off, this cryptocurrency will be a game changer. 

     I plan to watch this cryptocurrency closely because they appear to have bright future and may just be the sleeping the giant I have been looking for. Unfortunately, only time will tell. But as the old saying goes “No risk, No reward”. Please remember that I am just another person on the internet with a passion for blockchain technology and cryptocurrency. I am not a financial adviser and it is important that you do your own research before making any financial decisions. 

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Did Davincij15 Answer My Question About The Cryptocurrency Cardano?

Cardano ADA
                                  Cardano ADA

                   I woke up this morning and performed my usual ritual which includes a cup of coffee and glancing over the news headlines to see what lies the government is trying sell me today. While doing this, I noticed that one of my original favorite YouTubers Davinciji15 was doing a live broadcast and I couldn’t resist joining in on the chat. Many refer to Davinciji15 as an oracle because he released a YouTube clip during the speculative days of the Bitcoin. His predictions came into fruition and it quickly launched him into crypto world stardom. 

           I thought this would be great opportunity to have a question about the cryptocurrency Cardano also known as ADA answered by this YouTube personality. I figured since Davinciji15  predictions were correct in the past for Bitcoin, maybe he would possibly see the value in Cardano. After multiple attempts posting various questions about Cardano in the chat, I finally caught their attention and he answered the question. I asked, “Do you think Cardano has a chance competing with Ethereum? If successful, what future price range do you see?” (The question was answered 43:55 into the video)

                Davinciji15 paused for a moment, and then started laughing uncontrollably and appeared to nearly come to tears. He was astonished that I would even have asked such a question and stated that Ethereum was light years ahead of Cardano. He then questioned how could anyone ask such a question since Cardano lacks documentation and books explaining the code.  He did say that Cardano isn’t going anywhere and we should revisit this topic in 2 years. Davinciji15 also predicted that Cardano should do quite well during the next bull run before moving on to the next question.

            After hearing his responses, I felt annoyed and exhaunastic at the same time. The Cadano Foundation and IOHK have published enormous amount of research  and findings on GitHub, so I am assuming that Davinciji15 just isn’t as knowledgeable on the subject as I expected him to be. He did recognize potential earnings in Cardano, but I feel he fell short in understanding the technological advancements.

          I have always viewed Davinciji15  as a swing trader / day trader. His speculative trading style has made him a lot of money and he is quite successful at what he does. I truly believe that he has little respect for the current Fiat currency system , which most governments function under these days. But at times, I feel he is out for the quick buck and does not appreciate the potential changes that blockchain technology will bring about. 

       When he laughed, I felt like it was 1998 and I was comparing AOL to a little start up called Google. I am sure you get the picture. Hopefully his predictiction concerning Ethereum was wrong, but only time will.

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Investing With Cryptocurrency 101

Investing In Cryptocurrency
         Investing With Cryptocurrency                                                                                

             If you are reading this blog, I am assuming that you have heard of Bitcoin and other cryptocurrencies and would like to try  investing with cryptocurrency. Yes, I said invest because cryptocurrency will be the currency of choice in the future. Cryptocurrency is seeing more and more adoption on a daily basis, but it is currently being used as a store of wealth more so than a currency.

         As you have probably seen in your initial investigations, there are over 2000 cryptocurrency coins and tokens listed on CoinMarketCap.com.  Many of the coins are failed projects, but some are winners. I would like to assist you in your initial research and investment endeavors.

                Before you start  investing with cryptocurrency, please do not make the mistake that I did. You will need to do some research first and gain some basic understandings of cryptocurrency. I am sure you have heard of Bitcoin, which is probably the safest investment for beginners. But there are many other good options out there. You will need to decide if you are a speculative investor (high risk) or looking for a store of wealth transfer similar to gold.

              Speculative is pretty straight forward in my opinion, extremely similar to penny stocks. You may experience great gains while on the other hand, you may lose everything in one day. Now store of wealth (recommended) is very different. You are transferring your traditional government controlled fiat currency to a cryptocurrency like Bitcoin, which is not controlled or regulated by any government. I like to think, “The money for the people, by the people, for the people”.

                Now that I have stressed research, I would like to suggest some currencies that I personally recommend for the novice investor. I am sure you have heard of the first one; Bitcoin which is traded with symbol BTC that was created by Satoshi Nakamoto. No one really knows who this person is, but this individual or organization (conspiracy theory) released a white paper in 2008 describing how to create and implement Bitcoin, which also created Blockchain technology. Bitcoin has been around for over 10 years and has a proven track record of profitability, but also has had some extreme fluctuations in price never happen quite often.

                The second recommended coin is Ethereum that trades under the symbol of ETH.  Ethereum was proposed by Vitalik Buterin in 2013 and went live on July 30, 2015. Ethereum is a public open source blockchain, and the keyword is open source. You will hear the term token and ERC-20 token thrown around quite a bit in the cryptocurrency world. All you need to realize is that these currencies, which there are many of them resided on the Ethereum Blockchain.

             Remember that word open source and how I mentioned that there are many failed projects and up and comers? Many of these currencies will be found within the Ethereum Blockchain, but you only need to remember one thing, Ethereum is at the top of the food chain.

               It is important for you understand that when investing with cryptocurrency, some currencies are decentralized like Bitcoin and Ethereum. No one person or organization is in control of its future. The centralized currencies are quite different and have usually been created by businesses to resolve various problems in the financial world. . That’s not necessarily a bad thing, just something you should realize before you invest.

                Ripple (XRP) is an excellent example of this. This cryptocurrency was created by Ripple Labs and they are attempting to establish a faster and more reliable payment protocol for the banking and business institutions of the world. They may accomplish this goal and are quite popular, at one point they were the number two cryptocurrency currency. Just remember this; it was created by a business and run by a business which makes it centralized. Someone could hypothetically hit a switch and it would be gone forever.

                Some other cryptocurrencies that I suggest for you to look into are Neo, Cardano ADA, VeChain VET, Tezos XTZ, Basis Attention Token BAT, Kyber Network KNC, and COTI. These are just some of the promising currencies out on the market right now, but this can change quite quickly because the technology is improving on a daily basis.

                Okay, I think you should have the basic gist concerning cryptocurrencies that you will be investing in at some point of time. Now let’s talk about some research websites that I personally use and suggest. I have had good experiences using Coinmarketcap.com, Investing.com, Cryptocompare.com, Tradingview.com, and believe it or not Youtube.com. Remember you are responsible for your own research and don’t go off any one person’s opinion. Similar to marriage, it’s relatively easy to get into cryptocurrency but no so easy to get out without a loss if you make the wrong choice. 

Investing With Cryptocurrency

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