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

#1: What is TX?

TX: The Basics

TransferCoin is a innovate blockchain-based project that aims to bring cryptocurrency to the general masses. It aims to encourage widespread adoption of decentralised and anonymous means of exchanging assets and value, and revolutionize the way our economies function in the 21st century.

TX Development

TransferCoin was launched in October 2015 by Infernoman. It has since gone through a fair amount of dev team changes.

 

#2: What are the benefits of TransferCoin?

TX Technology

  1. TransferCoin was initially launched as a Proof-of-Work coin. There was no premine or ICO for TX, resulting in an unbiased and fair launch. The PoW mechanism was used to facilitate efficient and fast distribution of TX coins among users. The algorithm used by TX is the popular X11 algorithm. This continued until block number 15000, after which TX switched to a Proof-of-Stake mechanism.
  2. TransferCoin is now a completely Proof-of-Stake coin. The annual interest rate for stakers is 9% per annum. The block time is 60 seconds, with the efficient algorithm adjusting the difficulty every block. The minimum coin-age to begin staking is 24 hours, and the number of blocks to confirm a transaction is 80.
  3. Transactions are also authenticated by Masternodes, a decentralised, and interconnected network of servers setup by volunteers. Transaction obfuscation, or coin mixing, is done by randomly selected masternodes.
  4. Masternodes are merely servers helping to secure the blockchain by actively signing blocks and confirming transactions. They can be setup by anyone, and require 10,000 TX to setup in the TransferCoin blockchain. They earn 50% of the total reward, with the ability to stake the coins in the Masternode as well, making it a kind of remote extension of a user’s wallet.

Key Features

  1. Cross-Send - Utilising this feature, TX can be spent at any place that accepts Bitcoin transactions. This integration is performed seamlessly, with no extra configuration required to be performed by either the merchant or the customer.
  2. Masternodes - These are trust-less, decentralised, and powerful servers dedicated solely to securing the TX blockchain and confirming transactions. Since they are merely servers, they cannot steal user coins. The selection of random Masternodes for signing blocks ensures that no single node is aware of all the addresses involved in a particular transaction, maintaining user privacy.
  3. Stealth addresses - The TX blockchain supports Stealth Addresses, which means that completely anonymous transactions can be made, unlike the public blockchain of BTC. This allows parties to have a private exchange of funds, and prevents snooping.
  4. Decentralised Encrypted Messaging - Users can send private, secure, and anonymous messages across the TransferCoin network, without revealing sensitive information to unwanted parties.

 

#3: How to Buy & store TransferCoin?

How to buy TransferCoin

TX can be bought and traded at exchanges like Upbit, Bittrex, Livecoin, Cryptopia and YoBit, with Upbit being the largest by volume.

TX Wallet

The official TX wallet can be downloaded from their website[1].

CoinSwitch

While cryptocurrency exchanges provide you with a platform to buy or sell the TX cryptocurrency, CoinSwitch, the largest cryptocurrency exchange platform, comes in to help you make the right decision by providing the prices for TX on multiple crypto exchanges. With support for more than 140 coins and 45,000 pairs of cryptocurrencies, you can choose whichever pair you want with your token and compare the prices at multiple exchanges. This way, you can choose the best deal for you!

What’s more - with CoinSwitch, you do not rely on a separate TX wallet from the exchange to store your TX cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

 

#4: What is the future of TransferCoin?

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

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.358126

0.360965

0.338822

0.354893

29081

2338420

May 01, 2018

1.56

1.57

1.43

1.5

313278

10054100

Mar 01, 2018

1.03

1.32

1.03

1.23

2104750

6568910

Jan 01, 2018

3.02

3.11

2.82

3.04

641828

18917700

Oct 01, 2017

0.464415

0.469689

0.445011

0.456547

31197

2851480

Jul 01, 2017

0.428641

0.787852

0.367335

0.367335

376665

2578130

Feb 01, 2017

0.007155

0.008183

0.006254

0.008044

7253

41564

Sep 01, 2016

0.007412

0.007689

0.006515

0.006776

334

41501

Mar 01, 2016

0.024469

0.025994

0.022988

0.024131

801

130520

Sep 01, 2015

0.003385

0.003404

0.002315

0.00308

213

15999

  1. While remaining under the radar for most of its run, TX has seen a recent rise in popularity. This may be due to the recent changes in the dev team, and a renewed stream of frequent updates and upgrades to the code.
  2. With its unique focus on both making cryptocurrencies friendly for beginners, and user-privacy, it is likely prices will gradually begin to rise in the future.

 

#5: How is TransferCoin different from other cryptos?

  1. Extensive wallet - The wallets for TransferCoin, both mobile and desktop, are full-featured, one-stop destinations to perform any action a user can take on the TX blockchain. This means that a user can stake, setup masternodes, and view all other account activity from their wallet. What sets them apart from other cryptos is the ability to even trade at Bittrex, without ever leaving the TX ecosystem, straight from the TX wallet. The wallet also ensures user privacy and obfuscation of sensitive data by featuring a fully automated TOR client.
  2. Innovative features and consistent development - Unlike most altcoins which fade into obscurity, the dev team for TX has pushed consistent updates and new features to the code-base after dev team changes. With features like the innovative cross-send, encrypted message passing, and masternodes, TransferCoin continues to show rapid growth and development.
  3. Full integration with the TOR network - The TransferCoin blockchain provides users with complete privacy by utilising the TOR network to obfuscate transaction data. The TOR network makes it impossible to track a transfer from its beginning to its destination, providing true anonymity in a peer-to-peer and decentralised manner.

 

#6: Should you invest in TransferCoin?

  1. After changes in developers, TransferCoin has has a very stable update schedule, with robust features being added to its code-base.
  2. Its extensive toolset has good market potential, provided development continues at its current pace, with the same degree of stability and innovation.
  3. While investing in any cryptocurrency is subject to their inherent volatile nature, the growth potential of TransferCoin makes it a good candidate to research for investing.
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