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

#1 – What is Syndicate?

Syndicate: The Basics

  1. Syndicate is a master-node based cryptocurrency which offers a Business Management system to users, complete with barcode integration on the platform.
  2. Meant to be a next-gen cryptocurrency, it features a fully integrated management system which helps business owners keep track of their sales, inventory and expenses, and to connect businesses with their customers.
  3. The currency associated with the Syndicate platform is SYNX, which aims to be accepted in all places which accept Bitcoin as payment, in the future.

Syndicate Development

  1. The Syndicate cryptocurrency is a venture by the company SyndicateLabs, which founded the platform and takes care of the management aspect of it.
  2. Not much seems to be known about the people behind SyndicateLabs, however.
  3. Syndicate is, however, a community coin, and the platform’s development is largely managed by the cryptocurrency’s relatively large community.

 

#2 – What are the advantages of Syndicate?

Syndicate Technology

  1. Syndicate is one of the cryptocurrencies which started off with a hybrid Proof-of-Work/Proof-of-Stake algorithm. Now, though, it is completely based on Proof-of-Stake.
  2. Little is known about its actual technology implementation since its whitepaper is still due for release.

  3. It has a fast block confirmation time of 60 seconds, much quicker than Bitcoin or Ether.
  4. Syndicate’s masternodes serve to increase privacy and speed of transactions, and owners of such nodes can participate in the governance of the platform.
  5. Users owning at least 5000 Syndicate coins (SYNX) are eligible to set up their own masternode on the Syndicate blockchain. Masternodes receive 50% of the PoS reward, as incentive for keeping the cryptocurrency going.
  6. There is also a 10 SYNX static reward for the PoS, with a minimum stake age of 3 hours.

 

#3 – How to buy and store Syndicate coins (SYNX)?

How to buy SYNX

You can buy Syndicate coins (SYNX) at 7 exchanges as of July 2018, including Upbit, Bittrex, Cryptopia, CryptoBridge, Novaexchange, CoinExchange and Yobit. These platforms primarily accept Bitcoin and Ether, but some exchanges also accept currencies like MOON, DOGE, etc.

Some exchanges also accept fiat currencies like US dollars and Russian Rubles on Yobit and Korean Won on Upbit.

  1. All these exchanges are only platforms on which the SYNX coins can be bought or sold, but help is often needed to decide which platform to choose. This is where CoinSwitch comes in. One of the best cryptocurrency exchanges out there, it supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your SYNX token, and CoinSwitch will help you decide by displaying the prices all at the same place.
  2. What’s more - with CoinSwitch, you do not need to create wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

SYNX Storage

  1. SYNX coins can be stored on its own native wallet, Syndicate Core, which is a desktop wallet compatible with Windows, Mac OS and Linux operating systems. These wallets are barcode-integrated for communication.
  2. Syndicate also plans to release a mobile wallet by the end of 2019, to make it easier for users.

 

#4 – What is the future of Syndicate?

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

Market Cap and Global Acceptance

  1. Previously a hybrid PoW/PoS cryptocurrency which could be mined, Syndicate recently converted to a completely PoS-based cryptocurrency.
  2. It has a circulating supply of 19.53 million SYNX as of July 2018, with a market cap of $ 2.89 million USD and an individual price of $ 0.148 USD per SYNX coin.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 10, 2018

0.159051

0.162745

0.145331

0.145618

54,164

31,06,530

Jul 01, 2018

0.156876

0.158093

0.147796

0.150192

81,873

30,64,050

Jun 01, 2018

0.290318

0.296381

0.285013

0.293275

1,49,759

56,70,390

May 01, 2018

0.585233

0.585233

0.549959

0.58003

1,09,850

1,14,30,600

Apr 01, 2018

0.301462

0.364814

0.275706

0.2997

12,19,430

58,88,040

Mar 01, 2018

0.756279

0.871334

0.716044

0.870192

14,60,120

1,44,24,500

Feb 01, 2018

0.973167

1.06

0.747943

0.816551

16,42,670

1,73,91,100

Jan 01, 2018

0.670762

0.75256

0.641213

0.695472

16,51,690

1,13,48,900

Dec 01, 2017

0.289052

0.329155

0.282969

0.322827

1,44,481

47,54,020

Nov 01, 2017

0.212236

0.215559

0.203969

0.21198

51,032

33,62,550

Jul 01, 2017

0.118507

0.143563

0.109934

0.115528

37,353

13,35,440

Mar 01, 2017

0.011824

0.012433

0.011726

0.012433

201

1,31,666

Nov 01, 2016

0.008061

0.010241

0.007892

0.010235

183

62,404

Jul 11, 2016

0.005188

0.012993

0.005188

0.008128

682

36,654

Trends so far

  1. The Syndicate coin (SYNX) has had its share of ups and downs in the two years of its existence. From its initial 0.0081 USD in July 2016, it went down to a minimum of 0.0026 USD in January 2017, which increased by almost 500% in a year, to its maximum of $1.23 in January 2018. It is currently valued at $0.148 USD, as of July 2018.
  2. Its relatively low circulating supply coupled with the low individual price has caused SYNX to have a low rank in global market cap rankings. It is currently ranked 678 among cryptocurrencies worldwide, at the time of writing this article.
  3. Syndicate’s low market cap and subsequent low rank isn’t indicative of its overall performance and future potential. The idea of a Business Management platform which takes care of inventory, sales, etc. of businesses definitely has a great scope.

 

#5 – What makes Syndicate different from other cryptocurrencies?

  1. Rather than being just a currency for transactions, Syndicate is a platform which helps keep businesses organised by taking care of their inventory and other concerns.
  2. At the same time, it’s also a currency which aims to be accepted as widely as Bitcoin.
  3. Another thing that sets Syndicate apart is its short block confirmation time, which is just 60 seconds an opposed to Bitcoin’s 10 minutes.

 

#6 – Should you invest in SYNX?

  1. SYNX hasn’t been doing too well in the market recently, having fallen much below the 500th rank in global market cap rankings. It has a comparatively low individual value, which doesn’t seem to be increasing right now.
  2. However, the developers of the platform are active, and they have a roadmap which is pretty transparent, shown on their website as well as their Medium page. This gives us more confidence in the currency, and makes it one worth investing in.
  3. Of course, the fact that the SYNX coin is on a downward trend makes it more affordable to buy enough coins to set up a masternode, which gives great incentives and attractive rewards.
  4. At the same time, it has no whitepaper yet and seems pretty delayed on that front.



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