SwissCoin is one of the most trending topics on the web, off late. Even if you don’t know much about it, you must have surely heard or read about it somewhere. So if you are wondering what exactly is SwissCoin, why is it trending, what are its uses, and how you can use it, then don’t worry. Look no further because here we bring to you an in-depth SwissCoin review and how it can serve as a great alternative to the popular Bitcoin.
What is SwissCoin?
SwissCoin, to say in general terms, is a cryptocurrency. A cryptocurrency is a form of a digital currency which involves the use of cryptology to create digital currency and hence control the currency flow. This is a very complicated system and is very difficult to understand. But just like with physical currencies, you don’t know how it’s made and how the flow is controlled, but all you know is how to have it and how to spend it.
History of SwissCoin
Although the first form of cryptocurrency came to the fore in the early 90’s, but these were centralized just like the physical currency. Then the first decentralized cryptocurrency came in the form of Bitcoin in the year 2009. SwissCoin is the recent addition to the decentralized cryptocurrency. It is created by a Swiss company in partnership with various German firms. It was created to be a better alternative to the outdated Bitcoin which has issues with capacity limitations and the design of the currency.
How does it work?
In this, you have to ‘mine’ coins which are priced at a certain value. The value of the coins is pretty low in the beginning but they increase with time as more people get interested in them and the demand increases. Its rate is measured against the real physical currency which can be pound, dollar, or any other. With time, there is usually an increase in the rates.
For example, Bitcoin, which started in 2009, started at $0.02 for a coin. In 2016, it reached $1,100. So if you had bought 25000 Bitcoins in the year 2009, then they held a value of $500. But the same coins in today’s date will hold a value of $27,500,000. Although this is Bitcoin, but it gives an idea of how investment in cryptocurrency can be hugely beneficial in a given period of time of you are patient enough. Although many people want to know is SwissCoin scam, but this is only a false rumor since it has a lot of credibilities and people do genuinely get the value of their money when they sell SwissCoin.
Is SwissCoin a better alternative of Bitcoin?
SwissCoin came into the market as a BitCoin alternative, but currently, it does not prove to be a good alternate option. This is because the ‘mining’ rate of SwissCoin is pretty low at the moment. Currently, the SwissCoin is being mined at the rate of $1.4145 per SwissCoin. The SwissCoin rate today is quite low. This service launched on 4th May last year (2016) is relatively new compared to others. It hasn’t gained much popularity amongst the people yet and this is the reason for the low value of this decentralized currency.
But the twist is that this also provides a great opportunity to the new customers who are looking for SwissCoin mining. If you invest in the SwissCoin now, then you can buy a lot of coins at very less value. So when this service becomes popular later, more people start investing in it and its value increases, then you can have a lot of profit from your investment. So if you are patient enough and ready to invest, then surely SwissCoin can be a great alternative to Bitcoin because the value of Bitcoins is really high now and it’s difficult to invest much in it. Also, SwissCoin rate is bound to increase as it gains popularity.
How to join/register on SwissCoin?
Registering on Bitcoin is a fairly easy process. All you need is a sponsor for registration in order to become SwissCoin affiliate. You can find a sponsor on the web as well. It is not necessary for you to know the sponsor and it can be any person. Also, when you join in, you get SwissCoin joining bonus of 100 SwissCoins as well. So, we have seen how the new cryptocurrency namely SwissCoin has emerged as an alternative of Bitcoin. It is fairly new and provides you a great opportunity for cryptocurrency mining and hence making huge profits down the line.