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

What is ION coin?

#1 – What is ION?

ION: The Basics

  1. Aiming to create monetary incentives for gamers and a way for game developers to provide monetary rewards in their games, ION is a decentralized blockchain cryptocurrency that rewards its users through a “proof-of-stake” consensus system.  
  2. Alongside ION, Ionomy, a digital entertainment platform for gamers and game developers was also launched in April 2016.
  3. ION is based mostly on the idea of making it easier for game developers to incentivize participation in both their premium and free games. The motto of the ION cryptocurrency platform ionomy is “The Business of Fun”, and it mainly tries to add a social component to digital currency, making it fun and bringing in the possibility for networking.

ION Development

The backbone of ION and Ionomy is a team of eight, the CEO being Richard Nelson, who, according to his LinkedIn profile, has had management experience as well as technical experience. Adam Matlack is the Chief Strategist, and Colin Adley can be contacted for service requests. The game developers are Vadim Akhundov and Audrey Torbenko, while Fornax A., Mitchell Cash and Jordan Smith take on other developing responsibilities.

 

#2 – What are the advantages of ION?

ION Technology

  1. ION is a digital currency which is primarily given as rewards and incentives to gamers playing on its platform, Ionomy. It aims to make cryptocurrency fun and social, while simultaneously rewarding gamers for participation.
  2. The ION cryptocurrency works on the “static proof-of-stake” consensus system, which ensures that inactive investors cannot take advantage of it. The “Connectivity” system it works on makes the rewards proportional to the number of active users, promoting the community and keeping things fair while encouraging more people to participate.
  3. ION has also implemented a masternode network, which can be used to perform advanced functions and ensure smoother and much faster transactions for larger holders.

 

#3 – How to buy and store ION?

How to buy ION

There are few exchanges through which to buy ION tokens, Bittrex (ION/BTC) and Upbit (ION/BTC or ION/KRW) being the only currently functional ones.

  1. These exchanges serve as platforms on which you can buy or sell the ION tokens, but CoinSwitch, best cryptocurrency exchange will actively help you make the right decision by providing the prices for ION on the crypto exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose whichever pair you want with your token, and CoinSwitch will facilitate the comparison in various exchanges.
  2. What’s more - with CoinSwitch, you need not create or rely on the wallets specific to the exchanges. Instead, all transactions can happen to and from your very own private wallets.

ION Storage

The ION cryptocurrency being limited to gamers for a while, doesn’t have many wallets to choose from. The ION Code, a desktop wallet compatible with Windows, Linux as well as Mac, is the only reliable ION wallet out there. However, you have the option of exchanging your ION tokens for both other cryptocurrencies as well as fiat currencies as soon as you’re rewarded, so that’s always an option.

 

#4 – What is the future of ION?

Market Cap and Global Acceptance

The best part of ION, perhaps, is that ION tokens are given as a reward to gamers playing on the ionomy platform, and they are free to trade the coins for other cryptocurrencies or fiat currencies, too.

  1. It had an initial supply of 10.9 million tokens.
  2. 5 million ION tokens were sold in the May 2016 ION ICO.
  3. 2.5 million ION tokens were distributed as bounties, and
  4. 3.4 million ION tokens were awarded as incentives for participation by ionomy.

The circulating supply as of June 2018 is 21.6 million, out of the total current supply of about 27.5 million tokens. The maximum possible supply of the ION crypto is 55 million. The market cap is currently (as of June 2018) around 21.75 million USD, pricing at close to 1 USD per token.

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

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 16, 2018

0.913138

1.06

0.913138

0.999498

3,15,705

1,97,19,500

Jun 01, 2018

1.36

1.53

1.35

1.39

6,53,118

2,91,17,800

May 01, 2018

3.03

3.03

2.76

2.97

5,04,642

6,32,30,000

Apr 01, 2018

2.11

2.42

1.92

2.11

20,27,310

4,31,30,600

Mar 01, 2018

2.42

5.43

2.4

3.94

7,37,75,000

4,85,49,400

Feb 01, 2018

4.77

4.77

3.29

3.83

25,04,090

9,25,63,000

Jan 01, 2018

3.36

3.44

3.03

3.34

5,81,264

6,27,53,800

Dec 01, 2017

1.27

1.43

1.23

1.38

1,32,756

2,28,26,500

Nov 01, 2017

1.22

1.28

1.07

1.1

1,32,838

2,10,50,200

Oct 01, 2017

1.54

1.58

1.47

1.51

40,757

2,55,56,500

Sep 01, 2017

1.85

1.95

1.76

1.81

1,15,998

2,93,70,300

Aug 01, 2017

1.15

1.39

1.03

1.33

67,899

1,74,39,000

Jul 01, 2017

0.908873

0.985468

0.714283

0.734685

57,108

1,31,27,400

Jun 01, 2017

0.37276

0.395095

0.348206

0.366963

23,127

51,15,040

May 01, 2017

0.46508

0.499291

0.412662

0.496427

6,833

60,29,150

Apr 01, 2017

0.408908

0.41903

0.380116

0.410482

2,827

49,50,960

Mar 01, 2017

0.239985

0.296786

0.239966

0.278058

12,476

26,93,940

Feb 01, 2017

0.125541

0.148179

0.125541

0.148179

29

13,16,430

Jan 01, 2017

0.366116

0.36617

0.096264

0.099888

0

35,94,920

Dec 01, 2016

0.103588

0.151655

0.103588

0.151306

2

9,47,764

Nov 01, 2016

0.134692

0.14148

0.123297

0.140155

1

11,35,230

Oct 01, 2016

0.14769

0.1484

0.123325

0.123591

6

11,58,160

Sep 01, 2016

0.146381

0.146381

0.145807

0.145926

18

10,56,480

Aug 01, 2016

0.19362

0.194091

0.186612

0.186638

120

12,69,780

Jul 01, 2016

0.214532

0.237934

0.2136

0.236298

357

12,69,110

Jun 08, 2016

0.23882

0.401827

0.238753

0.401335

1,668

27,12,630

Trends so far

  1. The individual price of the ION coin went through a lot of ups and downs after its initial 0.4 USD when it was launched in June 2016 (pretty high considering the initial prices of most other cryptocurrencies). The price pretty much teetered around the same for a while, hitting an all-time low of about 0.01 USD in December 2016, and then steadily rising to its peak of about $ 6.63 in January 2018. It’s currently dropped from that level, though, to about 1 USD as of June 2018.
  2. Due to its relatively low circulating supply as well as the low individual price, it is unsurprising that ion token ranks close to 300 in global market cap rankings.
  3. However, it’s an attractive cryptocurrency nonetheless because it is the only one dedicated completely to gamers and the vast gaming network. It also promises fun; in fact, the entire ion economy, termed “ionomy”, aims to make cryptocurrency and its use fun. The volatility of the ion cryptocurrency makes it a little risky, but the fact that it’s aimed at gamers makes it a cryptocurrency to contend with in the future.

 

#5 – What makes ION different from other cryptocurrencies?

  1. Rather than other popular cryptocurrencies that focus on buying and selling of goods and are investment-centric (like Bitcoin), ION is focused on the gaming sector. It aims to give active gamers an incentive for participation and game developers a chance to add monetary incentives to their free as well as premium games. It’s focused on “everything that’s fun”, according to the ionomy website, whose very motto is “The Business of Fun”.
  2. It is not exclusive to gamers as anyone can invest in ION tokens, like any other cryptocurrency, making it universal. However, it’s an incentive system designed primarily for the gamers and games on the platform. The system works on “static proof-of-stake” and “connectivity” rather than coinage, which successfully prevents its exploitation by inactive stock-holders. The rewards are proportional to the number of active users, making it a fair distribution throughout.

 

#6 – Should you invest in ION?

  1. For a cryptocurrency launched more than 2 years ago (as of June 2018), ION has certainly taken its time to climb up the ladder. The highest price of an individual ION token being 6.63 USD, it’s now fallen again to about $ 1, not very far from its initial value.
  2. It has its advantages, the main one being that it boasts of being “fun”, unlike any other currency. The reward of winning is adequate for a true gamer, but an incentive involving money doesn’t hurt. Games on the ION platform like “To The Moon (Beta)” and “Crypto Gravity” (available for both Android and iOS) are gaining ground among gamers, and ION can only go up from where it is currently.
  3. Another perk of the ION cryptocurrency is that if you invest in it, in-app purchases on the games in the ION platform come much cheaper. ION developers offer up to 50% off on the purchases, if ION tokens are used. The cryptocurrency has just about started gaining ground within the gaming community, and its motto of “fun” and accessible nature are its selling points, making it likely to give returns in the long term.
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