What is Energycoin (ENRG)?
Future of ENRG Cryptocurrency and know how to buy ENRG

#1 - What is ENRG?

Energycoin: The Basics

  1. Energycoin (ENRG) is an “energy-saving” cryptocurrency that focuses primarily on a sustainable economic system. It is a peer-to-peer cryptocurrency based on the game changing blockchain technology.
  2. The cryptocurrency works purely on PoS (Proof Of Stake) protocol, an alternative to Proof of Work (PoW) digital currencies like Bitcoin.

ENRG Development

  1. EnergyCoin is a platform for Sustainable Environmental Blockchain Solutions, founded in 2014 by the EnergyCoin Foundation.
  2. The EnergyCoin Foundation is a non-profit entity sponsored by community donations that provides a platform for and setting governance standards for projects that want to be part of its platform.
  3. The purpose of the coin is to facilitate the so-called Energy Transition and move away from fossil fuels towards local generation and renewables.
  4. Each year EnergyCoin Foundation issues free tokens for several projects, allowing for rewarding the sustainable actions.


#2. What are the benefits of Energycoin?

  1. Like PoW (Proof of Work), PoS is also used to verify transactions, but it doesn’t require as much energy as in PoW, because a large amount of computing power isn’t required. Staking is more energy efficient compared to mining. For now, the principles of the EnergyCoin platform are better than other protocols.
  2. Energycoin is like an alternative to Bitcoin for all the companies and entities who wish to take advantage of the benefits of a cryptography-based transaction system, but don’t want to potentially add to the large carbon footprint, which are associated with the high-energy demands of a PoW transaction verification system.
  3. Energycoin is used as a platform to host tokens. Tokens can be introduced as a form of local currency. A local store of value and the platform acts as a means for value transactions. Therefore, it can be used to facilitate both stored value type acquisition and payment transactions.
  4. Without a whitepaper though, it is difficult to ascertain the platform’s architecture and any unique features.


#3. How to buy and store Energycoin?

Buying Energycoin

  1. It isn't possible to buy Energycoin directly for money on any of the trading platforms. One can only acquire Energycoin in exchange for Bitcoin so far, and that too only on the Bittrex exchange.
  2. When buying Energycoin, users should use CoinSwitch, the largest cryptocurrency trading platform. It is home to more than 350 cryptocurrencies and can make over 45000 trading pairs. Users can compare ENRG rates and trade across all available exchanges in real-time. In addition, It also allows users to store their cryptocurrencies before and after making the trade.

Storing Energycoin

You must use a highly secure wallet to store your EnergycoinsThis can be done by transferring your coins to any of the following wallets:

  • a hardware wallet like Trezor or Ledger
  • a software wallet like Spectrum or Exodus
  • you can equally create a paper wallet as it is also secure and easy to use.

#4. What is the future of Energycoin?

Also Read: Complete Analysis of Energycoin | Live Energycoin (ENRG) Price Charts And Predictions

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  1. In May 2014, Energycoin was launched at a price of $0.000127 USD. Within a year its price declined to $0.000070 USD. In 2016, it witnessed a rise by 8% and reached $0.000816 USD.
  2. The price at the beginning of 2018 was at its peak, but then dropped by 1838% to 0.027155 in the beginning of July 2018.
  3. On July 28, 2018 Energycoin stands at a market capitalization of $5,036,771 with a price of $0.04. It has a current circulating supply of 122 Million coins and a total volume exchanged of $9,993.80.

While Energycoin hasn’t been doing too well in 2018, there could be plenty of room for its recovery up to, and potentially beyond its lifetime high. It is also believed by some investment analysts that current levels might be a nice opportunity to pick up some cheap tokens ahead of the recovery.

#5. How is Energycoin different from other cryptocurrencies?

  1. Bitcoin and Ethereum are rooted in what is called Proof of Work (PoW), whereas Energycoin is rooted in Proof of Stake (PoS). Both technologies work on similar lines but PoS doesn’t require large amounts of energy as compared to PoW. Whereas Proof of Work rewards participants for spending computational resources, blockchains that uses Proof of Stake select validators based on the size of their respective monetary deposits- their stake.
  2. By design, Energycoin is decentralized and operates on a peer-to-peer network. Its transactions take place between users directly through the use of cryptography, without an intermediary. But in reality, for both Bitcoin and Ethereum, it's a much more centralized process. A recent study conducted by a cadre blockchain scholars and published through Cornell University said “The entire blockchain for both systems is determined by less than 20 mining entities.”

#6. Should you invest in Energycoin?

  1. Investing in Energycoin does not require the need for a lot of action during its course of ownership. It does not offer block rewards like Bitcoin for mining work; instead, holding on to the currency mints new coins, as a way to avoid the intensive race that now dominates Bitcoin mining.
  2. Keeping up with its name, Energycoin focuses intensively on the energy area. Firstly, it is devoted to every individual who is focused on sustainability. They consider it to be their task to enhance the future through appropriate options. Therefore, a direct course of action of the payment choices will happen later on and nature will get corresponding security.
  3. Though the idea may look pleasant in principle, but implementing those thoughts is a diligent task and its team isn't much active on the website and does not look very committed to their goals. It’s even lacking a whitepaper.
  4. However, this might be the only concern with respect to investing in this cryptocurrency, because as far as its past year trends and future prospects are concerned, Energycoin is now ready to be the infrastructure for green environment-friendly applications in the future.
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