$ 0.0397 USD
$ 0.0397 USD
$ 3.049 million USD
$ 3.049m USD
$ 3,982.18 USD
$ 3,982.18 USD
$ 31,320 USD
$ 31,320 USD
0.00 0.00 NAV
Issue Time
2014-07-06
Platform pertained to
--
Current price
$0.0397USD
Market Cap
$3.049mUSD
Volume of Transaction
24h
$3,982.18USD
Circulating supply
0.00NAV
Volume of Transaction
7d
$31,320USD
Change
24h
0.00%
Number of Markets
15
Current Rate0
0.00USD
WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!
3H
0.00%
1D
0.00%
1W
0.00%
1M
+6.07%
1Y
-13.25%
All
-67.52%
Aspect | Information |
Short Name | NAV |
Full Name | NavCoin |
Founded Year | 2014 |
Main Founders | Craig MacGregor, SoopY |
Support Exchanges | Binance, Bittrex, Upbit, and others |
Storage Wallet | NavCoin Core Wallet, NEXT Wallet, etc. |
NavCoin, abbreviated as NAV, is a decentralized cryptocurrency that was established in 2014. It's a project that was initially conceived by Craig MacGregor and SoopY. As a peer-to-peer open-source cryptocurrency, NAV uses a proof-of-stake consensus mechanism, aiming to make transactions simpler and more efficient. The digital asset can be purchased and traded on several exchanges including Binance, Bittrex, and Upbit, among others. For the safe storage of NAV, users can use wallets such as the NavCoin Core Wallet and NEXT Wallet.
Pros | Cons |
Uses proof-of-stake consensus mechanism | Relatively small market capitalization |
Experienced founding team | Limited adoption compared to larger cryptocurrencies |
Tradeable on multiple exchanges | Dependent on broader cryptocurrency market trends |
Specific wallets designed for storage | Competing against numerous other cryptocurrencies for market share |
Pros:
1. Uses Proof-of-Stake Consensus Mechanism: Unlike proof-of-work, the proof-of-stake consensus mechanism that the NavCoin network employs is energy-efficient. It uses less computational power, thus making it environmentally friendly. The mechanism also adds an additional layer of security to the blockchain.
2. Experienced Founding Team: The team behind NavCoin, led by Craig MacGregor and SoopY, carries extensive experience in the cryptocurrency space. Their expertise provides a solid foundation for the project's growth and development.
3. Tradeable on Multiple Exchanges: The NAV token is tradeable on various exchanges including Binance, Bittrex, and UpBit. This broad availability provides higher liquidity and easier access for potential investors.
4. Specific Wallets Designed for Storage: NAV has its specific wallets, NavCoin Core Wallet and NEXT Wallet, designed to provide secure storage for the coin. These wallets also provide advanced features that optimize the user's experience.
Cons:
1. Relatively Small Market Capitalization: NAV has a relatively smaller market cap in comparison with the top cryptocurrencies. This could imply a higher risk as smaller cap cryptocurrencies may have more price volatility.
2. Limited Adoption Compared to Larger Cryptocurrencies: Even though NAV brings several innovative features, its adoption is still limited when compared to larger, more established cryptocurrencies. This could affect its overall long-term potential.
3. Dependent on Broader Cryptocurrency Market Trends: Like all cryptocurrencies, NAV's value is strongly influenced by the overall market trends in the crypto space. It is subject to the market's highs and lows, which can lead to considerable price fluctuations.
4. Competing Against Numerous Other Cryptocurrencies for Market Share: The crypto market is highly competitive, with new projects and tokens emerging regularly. For NAV, winning a substantial share in this crowded market is one of its significant challenges.
NavCoin (NAV), like many cryptocurrencies, operates on blockchain technology. But what sets it apart is that it utilizes a specific form of blockchain consensus called Proof of Stake (PoS), as opposed to the traditionally used Proof of Work (PoW) method. The PoS consensus mechanism has been recognized for its energy efficiency, as it doesn't require the extensive computational power that PoW relies on.
Additionally, the NavCoin project emphasizes privacy and simplicity. It has introduced several features to enhance user privacy. One of these is the NavTech subchain, which aims to facilitate private transactions by separating the transaction process into two parts - transferring NAV and private payments, while keeping the sender's information confidential.
Unlike some other cryptocurrencies, NavCoin involves its community in decision-making processes. It uses a dual blockchain system to incorporate a self-funded community initiative. The NavCoin Community Fund allows community members to propose and vote on community projects, thereby ensuring that the decisions being made align with the communitys best interests.
On the other hand, it‘s worth noting that many other cryptocurrencies also offer unique features and innovative solutions. Bitcoin's pervasive recognition, Ethereum's smart contracts, and Ripple's speedy cross-border transactions are just a few examples. NAV's unique features contribute to the diversity and expansion of the overall cryptocurrency market, yet it’s one of many working towards advancing the technology and usage of digital assets.
NavCoin (NAV) operates on a proof-of-stake (PoS) consensus mechanism, a method that differs significantly from the more commonly used proof-of-work (PoW) systems.
In a PoS system, validators, who are analogous to miners in a PoW system, are chosen to create new blocks based on their economic stake in the network. This means that the more NAV tokens a validator holds, the higher the chance they have of being chosen to add a new block to the network. This method requires less power and therefore, it is more environmentally friendly than PoW systems, which require vast computational resources to solve complex mathematical problems.
Privacy is another key aspect of NAV's working principle. It uses a subchain technology called NavTech to facilitate private transactions. When a user initiates a private transaction, it is first sent to a processing hub on the NavTech system. Here, the transaction and the sender's details are separated. The transaction is then sent through a second server for encryption before being broadcasted onto the network, devoid of the sender's information.
Furthermore, NAV employs a system that allows its community to participate in decision making and fund allocation. The NavCoin Community Fund allows any NAV holder to propose projects, and voting rights are given to any staker. This unique proposition helps in the democratic decision-making process, allowing the network to make decisions beneficial to all users.
However, the adoption of any given cryptocurrency, including NAV, often depends on market recognition and adoption hurdles. Thus, despite NAV's unique features, its wider acceptance as a medium of exchange depends on various factors, including market conditions, regulatory environment, and user confidence.
NAV's price has fluctuated significantly since its launch. The coin reached its all-time high of $1.65 in January 2018, but has since fallen back to around $0.01.
NAV has a fixed mining cap of 21 million NAV. This means that no more than 21 million NAV coins can ever be mined.
The total circulating supply of NAV is currently 16.5 million NAV.
Below are ten exchanges where you can buy NAV Coin, with the trading pairs they support:
1. Binance: This popular exchange supports the BTC/NAV trading pair.
2. Bittrex: Here, NAV can be traded for BTC, ETH, and USDT.
3. Upbit: Upbit supports the NAV/BTC trading pair.
4. Poloniex: This platform also offers NAV in exchange for BTC, ETH, and USDT.
5. Crex24: On Crex24, traders can exchange BTC for NAV.
6. Stex: NAV can be traded against BTC on this platform.
7. Yobit: Yobit supports USDT/NAV, BTC/NAV, and ETH/NAV trading pairs.
8. P2PB2B: This platform offers NAV paired with USDT, BTC, and ETH.
9. SouthXchange: SouthXchange supports trading pairs including NAV/BTC and NAV/USDT.
10. Graviex: Naviaddress (NAV) can be exchanged for BTC and ETH on Graviex.
Please note that availability may vary, and it's crucial to check on the specific platform to ensure they still support the mentioned trading pairs, due to possible changes over time or fluctuations in trading volume.
The NAV Coin can be stored securely using various types of wallets. Here are some options to consider:
1. NavCoin Core Wallet: This desktop wallet, developed by the NavCoin team, is available for Windows, MacOS, and Linux operating systems and allows users to stake their NAV tokens.
2. NEXT Wallet: This multi-coin wallet, which also supports NAV, provides an intuitive user interface and additional features like a built-in exchange and market data tracking.
3. Coinomi: This multi-asset mobile wallet supports NAV, among other cryptocurrencies. Available for Android and iOS devices, Coinomi features strong privacy and security measures.
4. NavPay: This lightweight wallet by NavCoin is available for web and mobile platforms. It allows users to quickly create transactions with the option of private payments.
5. Hardware Wallet: Although currently no specific hardware wallet is solely dedicated to NAV, NavCoin can be stored on wallet providers that support multiple cryptocurrencies such as Ledger or Trezor.
Remember to always research wallet options thoroughly to make sure it suits your needs for security, convenience, and functionality. Wallets should ideally be from reputable sources, and wherever possible, enable extra security features such as two-factor authentication and encryption.
Investing in the NavCoin (NAV) can be suitable for different types of investors, including:
1. Cryptocurrency enthusiasts: Those who have a general interest in the cryptocurrency space and want to diversify their portfolio with a Proof of Stake token may consider investing in NAV.
2. Long-term investors: NAV might be an interesting asset for long-term investors who believe in the project's potential. Long-term investors should be prepared to hold through periods of volatility and price fluctuations.
3. Technology-oriented investors: As NAV brings several technological innovations to the table such as the NavTech subchain for private transactions, it can be an interesting pick for investors who appreciate these types of advancements in the blockchain space.
4. Community-oriented investors: NAV's approach to decision making through its dual blockchain system and the NavCoin Community Fund may appeal to investors who prefer projects with a strong community focus.
However, it's essential to note that investing in cryptocurrencies carries significant risk due to market volatility. Hence, anyone considering buying NAV should remember the following:
a. Do Your Research: Always conduct thorough research before investing in any cryptocurrencies, including NAV. Understand what the project is about and its future potential, its technology, and its leadership.
b. Risk Management: Never invest more than you can afford to lose. It's recommended to only use a small portion of your investment portfolio for high-risk investments like cryptocurrencies.
c. Stay Informed: Monitor your investments and stay informed about changes in the market. Price volatility is common in the cryptocurrency market. Staying informed will help you make the best decisions.
d. Security: Choose secure wallets and exchanges for your NAV tokens. Enable two-factor authentication and encryption wherever possible to further secure your assets.
e. Professional Advice: For large investments and professional advice tailored to your personal financial situation, consider consulting with a financial advisor.
NavCoin (NAV) is a peer-to-peer, open-source cryptocurrency launched in 2014. Its notable features include a proof-of-stake consensus mechanism and emphasis on privacy, facilitated by the NavTech subchain. NAV also incorporates its community into decision-making processes through the NavCoin Community Fund. NAV can be bought on multiple exchanges and stored in various wallets specially designed for the coin.
However, like any cryptocurrency, NAV's development prospects and potential for appreciation are subject to various factors. The team's ability to execute their vision, overall market trends, and level of adoption among users all play a crucial role. Its current relatively small market capitalization and competition from other cryptocurrencies are areas to consider when assessing its future prospects.
While NAV has the potential for appreciation, as with any investment, there is also a risk of loss. Successful investment in NAV, like any other cryptocurrency, requires careful research, ongoing monitoring, and an understanding of the highly volatile nature of the cryptocurrency market.
In conclusion, NavCoin represents an interesting fusion of privacy-focused features and community participation in decision-making. As with any other cryptocurrency, potential investors need to carefully consider their risk tolerance, investment goals, and stay informed about market trends. It is also recommended to seek professional financial advice for large investments.
Q: On which exchange platforms can I buy or trade NAV tokens?
A: NAV tokens are accessible for purchase or trading on numerous exchanges including Binance, Bittrex, and Upbit, etc.
Q: Which wallets are suitable for storing NAV tokens?
A: NAV tokens can be safely stored in wallets such as the NavCoin Core Wallet, NEXT Wallet, Coinomi, as well as some hardware wallets like Ledger or Trezor.
Q: What critical features make NAV Coin unique from other cryptocurrencies?
A: Key features distinguishing NAV include the proof-of-stake consensus mechanism, its NavTech subchain for private transactions, and a dual-blockchain system for community-driven decision-making.
Q: What kind of trading pairs is NAV Coin available with?
A: NAV Coin can be traded with various pairs including BTC, ETH, and USDT, depending on the specific exchange platform.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
1 ratings