Gulden coin is a cryptocurrency that is focused on the Dutch market. The name is obtained from the former Dutch national currency. The Gulden currency was used to transact in the country for over 300 years, and then the Euro was introduced. Use of the Gulden was officially stopped in 2002. Many residents of the Netherlands are open to the use of the Gulden cryptocurrency because of its familiarity and the increased ease of use. The coin was introduced to the market in 2014, just five years after the Bitcoin was founded.
It has grown fast in recent years and now ranks as the 69th most capitalized cryptocurrency in the world. It features lower payment fees than most other online payment options. The aggressive development of this cryptocurrency has led to its wide adoption by online merchants and stores. Currently, many large companies such as Subway have embraced the use of Gulden coins.
Gulden can be used to pay in any store that accepts Bitcoin payment, and this has aided in the success of the technology. Users simply have to scan the Bitcoin QR codes with Gulden wallets. This process is made possible using Nocks, a Gulden-based company. Nocks instantly converts Gulden coins to Bitcoins and makes the payment through the Gulden smartphone apps. In future, Gulden developers intend to include a converter for Euros so users can pay for routine services over the Gulden apps.
The technology is relatively new and, therefore, not as widely used as Bitcoin. The developers have encouraged more people to use their blockchain technology through the Bitcoin conversion option. Although there are currently many stores that accept Gulden payments, the incorporation of Bitcoins to their app has considerably helped to boost its popularity among users. The end result will be an increase in the number of merchants that directly accept Gulden payments.
A major advantage of the system is the speed of transactions. These transactions involve negligible transaction fees. Unless you are dealing with huge payments, the transaction costs will be unnoticeable. The small fee is used to add the transaction to the blockchain and to pay for maintenance of the network.
That makes it an ideal payment option for people who need to make many small payments. With many other systems, you will have to pay a significant amount of money to make payments, regardless of how small the transaction is. Besides the low cost, Gulden is also available 24/7 and can reliably be used for transactions. With this technology, the user is in complete control of their money.
Gulden coins allow you to make about 40 transactions per second. This is a very high transaction capacity, especially when compared to other cryptocurrencies. Bitcoin is only able to handle a maximum of eight transactions per second. Gulden coin technology is still under development, and the transaction capacity is bound to increase over time. The large transaction capacity is part of what makes it very cheap to send payments using the Gulden wallet.
The Gulden blockchain technology is much easier to use compared to cryptocurrencies like Bitcoins. These cryptocurrencies are complicated to use, especially in the Netherlands, and that is part of what influenced the development of Gulden. Mining is also quite fair as the technology is designed to smoothen out the block times. That way, miners can obtain greater value out of the system. The simplicity and convenience are both enabled by the DELTA algorithm.
The Gulden technology also uses a system called PRIME. With this system, you don’t need to make any confirmations when transacting. Typically, cryptocurrency payments have to go through several confirmations before they are approved. The payment process can easily take you hours to complete, regardless of the size of the payment. This makes such payment options impractical for use by larger organizations. Gulden coins, on the other hand, can be sent without confirmations.
The PRIME system also ensures 51 percent attack prevention. PRIME is still being developed, and the technology is bound to improve significantly over time. It is funded by the user community. Holders of Gulden can invest in the cryptocurrency’s shares and earn an interest of 1 percent per month.
The value of Gulden rises with increased use. As a new user, you will be aiding in the appreciation of the value of the cryptocurrency. You will, therefore, be making a worth-while investment by buying Gulden coins. In 2016, the value of Gulden increased by 100 percent. Very few investments will yield such high returns. It is also worth-noting that the value can go down, although it mostly increases.
Gulden Coin Wallets
The Gulden coin is based on simplicity, and that is even seen in the design of their digital wallets. The wallet has a minimalist user interface that only gives users the necessary options. You will not be bombarded with hundreds of irrelevant items. The app gives you the option to send money to a given address. These apps are available on android, iOS, windows, Mac and Linux devices.
The wallets can be used to make payments to any merchants who accept Gulden or Bitcoin payments. You simply need to scan the merchant’s QR codes and send the money. You can also use the wallet to send money to another user, or to any IBAN account. The currency will be converted as necessary.
Gulden Coin Exchanges
The Gulden cryptocurrency development team has been working hard to make the coin usable, even with the limited number of merchants that accept Gulden payments. They have incorporated several exchanges to encourage people to use the service.
Presently, you can use it to pay any merchant that accepts Bitcoin payments. Simply scan the merchant’s Bitcoin QR code, and the transaction will be implemented. The wallet will convert your Gulden coins to Bitcoins, and then compensate the merchant accordingly. You can also wire your Gulden coins to any Euro bank account. This process is also performed over the Gulden wallet.
The development team is still incorporating other exchanges to the wallet in order to improve the functionality of the technology.
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