Namecoin (CURRENCY:NMC) traded 10.4% higher against the U.S. dollar during the twenty-four hour period ending at 11:00 AM Eastern on January 16th. In the last week, Namecoin has traded up 18.2% against the U.S. dollar. Namecoin has a total market cap of $8.36 million and $4,225.00 worth of Namecoin was traded on exchanges in the last 24 hours. One Namecoin coin can now be bought for about $0.57 or 0.00006521 BTC on popular cryptocurrency exchanges including Poloniex, Bittylicious, BX Thailand and WEX.
Here’s how other cryptocurrencies have performed in the last 24 hours:
- Bitcoin (BTC) traded down 1.2% against the dollar and now trades at $8,686.89 or 1.00000000 BTC.
- Bitcoin Cash (BCH) traded down 2.8% against the dollar and now trades at $323.48 or 0.03717740 BTC.
- Steem (STEEM) traded down 0.9% against the dollar and now trades at $0.14 or 0.00001613 BTC.
- Unobtanium (UNO) traded down 0.9% against the dollar and now trades at $53.27 or 0.00612291 BTC.
- Counterparty (XCP) traded up 0.3% against the dollar and now trades at $1.26 or 0.00014572 BTC.
- Color Platform (CLR) traded up 0.4% against the dollar and now trades at $0.0127 or 0.00000146 BTC.
- Crown (CRW) traded 1.7% higher against the dollar and now trades at $0.0451 or 0.00000518 BTC.
- PIXEL (PXL) traded down 2.2% against the dollar and now trades at $0.0184 or 0.00000211 BTC.
- Terracoin (TRC) traded 10.2% lower against the dollar and now trades at $0.0295 or 0.00000339 BTC.
- CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.
Namecoin (CRYPTO:NMC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis date was April 18th, 2011. Namecoin’s total supply is 14,736,400 coins. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible here. Namecoin’s official website is www.namecoin.org. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here.
According to CryptoCompare, “It is based on the code of bitcoin and uses the same proof-of-work algorithm. It is limited to 21 million coins. Each Namecoin record consists of a key and a value which can be up to 520 bytes in size. Each key is actually a path, with the namespace preceding the name of the record. The key d/example signifies a record stored in the DNS namespace d with the name example and corresponds to the record for the example.bit website. The content of d/example is expected to conform to the DNS namespace specification. The current fee for a record is 0.01 NMC and records expire after 36000 blocks (~200 days) unless updated or renewed. Namecoins used to purchase records are marked as used and destroyed, as giving the fee to miners would enable larger miners to register names at a significant discount. “
Buying and Selling Namecoin
Namecoin can be traded on the following cryptocurrency exchanges: Trade By Trade, Cryptopia, SouthXchange, Tux Exchange, YoBit, Bitsane, Altcoin Trader, C-Patex, Livecoin, Bleutrade, WEX, Poloniex, BX Thailand and Bittylicious. It is usually not possible to purchase alternative cryptocurrencies such as Namecoin directly using U.S. dollars. Investors seeking to trade Namecoin should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Namecoin using one of the exchanges listed above.
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