What is Unikoin Gold (UKG)?
Future of UKG Cryptocurrency and know how to buy UKG

#1 - What is Unikoin Gold?

In recent years, video games have evolved from merely a means of entertainment into a thriving esports industry. With the introduction of Massively multiplayer online games (MMOGs) genre, esports have become one of the fastest growing industries in the world. According to a report published by Newzoo in February 2018,[1] the esports industry is expected to see a massive growth in 2018, reaching $905.6 million, which is an astonishing 38% growth over 2017’s $655 million. Unikrn, an esports betting and ingame assets trading platform intends to capitalize these growth opportunities, by introducing its own cryptocurrency to use on the platform.

Unikoin Gold (UKG): The Basics

  1. Unikoin Gold is a decentralized, Ethereum-based cryptocurrency used by users to enjoy different services provided by the Unikrn platform. The cryptocurrency is denoted by the ticker “UKG” in the market. UKG token provides an exclusive right to users for accessing premium features on the Unikrn platform. UKG token is issued by Unikrn Bermuda Ltd. a wholly owned subsidiary of Unikrn Inc.
  2. Since, Unikrn is a betting platform, UKG token use will be limited or extended by the juridictions Unikrn operates in. Under fully favourable jurisdictions, the token can be used for betting on esports spectator tournaments, peer-to-peer wager, jackpot tickets, etc. However, in limited jurisdictions, betting facilities may be restricted.

Unikrn Development

  1. Unikoin Gold’s parent company Unikrn was founded in November 2017, by Rahul Sood and Karl Flores in Las Vegas, Nevada. Rahul is CEO of the company with Karl serving as CMO. Previously, Rahul has led Microsoft ventures as its General Manager. Unikrn was able to raise $10 million with help of investors like Binary Capital, Mark Cuban, and Ashton Kutcher.
  2. Although there was already an internal token (Unikoin) being used on the platform, the company decided to launch its own cryptocurrency (Unikoin Gold) to take advantage of blockchain also it replaced previous Unikoin token with Unikoin Silver, which can be earned for free.
  3. The company held its initial coin offering (ICO) between September 22–October 22, 2017 with an aim to raise $100 million. Only 20% of the total supply of 1 billion UKG tokens were made available for sale. At the end of token sale 127,616,023 UKG were sold.

 

#2 - What are the benefits of Unikoin Gold?

Unikoin Gold Technology & Features

  1. Unikoin Gold is based on the Ethereum blockchain, which enables it to use smart contracts functionality and Ethereum virtual machines. The Blockchain also allows a decentralized distributed ledger, which can be used to record KYC and Anti-Money Laundering (AML) functions on blockchain. This helps to increase accountability and compliance of the platform.
  2. The platform is also providing an official wallet. The wallet will can obviously be used to store UKG token but also it can be used for betting directly from within the wallet. It will allow premium members to make transaction instantly with zero fee.
  3. Unikrn is developing several betting applications that can be divided into two categories:
    - Chance-based applications and,
    - Skill-based applications.

Chance-based applications are available in full service juridictions, where betting is not restricted by the local legislations. Skill-based applications based applications provide few services, and are available in both limited & full Service Jurisdictions.

  1. Parimutuel betting: This type of betting will be featured in Chance-based applications. When a user places a bet on an outcome of a match, that triggers the smart contract creation for the transaction between Unikrn and the user. Once the match has started, Unikrn closes these contracts in order to disallow additional bets to be placed on the match. All contracts are logged in blockchain and can be viewed and tracked individually. When the match has ended, the platform will declare results to all users involved in the contract and roll out the pay.
  2. Unikrn skill-based applications use the Unikoin Gold token for wagering that are powered by Ethereum’s smart contracts. The wagering can be in a peer-to-peer form, between multiple users, or in a game tournament. When users start a wager, their tokens are locked in a smart contract. The smart contract then facilitates the reward settlement, once the match is verified by Unikrn and all necessary conditions are met.
  3. Unikrn Jackpots: Earlier, Unikrn used to feature raffles, which are now replaced with Jackpots. Users can participate in jackpots by buying tickets with either Unikoin Gold or Unikoin Silver; however, some jackpots may be exclusive to either token. The chances of winning also differ, depending on the token that is used to buy jackpots tickets. Unikoin Gold allows 90% winning chance compared to 10% of Unikoin Silver. These jackpots can include:
    - ingame items,
    - gaming gears,
    - exclusive passes for tournament rooms, or
    - even Unikoin Gold.
  4. Unikrn Connekt: Unikrn platform allows users to earn free native tokens by connecting their gaming accounts with Unikrn Connekt. It features ladder based mechanism where users climb higher levels upon completing the previous level challenges and with each progressive step, they get Unikoin Gold or Unikoin Silver. As of July 2018, the portal supports games like
    - Counter-Strike: Global Offensive,
    - League of Legends,
    - Dota 2,
    - Clash of the Clans,
    - Rocket League, etc.

  

#3 - How to buy & store Unikoin Gold?

How to buy Unikoin Gold?

Unikrn platform pre-minted its total supply of UKG token in the beginning and company’s CEO Rahul Sood has stated that no new token will be minted in future, so UKG mining is not possible on the platform. Nevertheless, users can still obtain UKG through various ways, from betting to trading.

  1. Unikrn cryptocurrency can be exchanged on varios cryptocurrency exchanges, such as Bittrex, Kucoin, OKEx, Upbit, Radar Relay, and some others. Most exchanges have paired Unikoin Gold with Bitcoin and Ether.
  2. The ideal way to buy UKG is to compare rates on all available exchanges and only then make a purchase decision. For this, users can use CoinSwitch, which would make cryptocurrency trading a pleasant experience for users.
  3. CoinSwitch is the largest cryptocurrency trading platform. It supports over 300 cryptocurrencies with more than 45000 possible pairs. Users can compare UKG rates and trade across all leading exchanges. It gives users a unified experience by providing comparing, trading, live price charts facilities, all at one place.

How to Store Unikoin Gold?

Unikrn platform provides its official Unikrn Wallet to store UKG. However, Unikoin Gold is based on Ethereum; so ERC-20 compatible wallets can also be used. Some popular options are listed below:

  • MyEtherWallet
  • Coinomi
  • Metamask
  • Mist
  • Ledger Nano S
  • Trezor

 

#4 - What is the future of Unikoin Gold?

Trend So Far

Also Read: Complete Analysis of Unikoin Gold | Live Unikoin Gold (UKG) Price Charts And Predictions

  1. As of July 2018, Unikoin Gold has a market cap of over $13.6 million, which ranks it 376th based on market capitalization in the global cryptocurrency market. There are 141,372,371 UKG tokens circulating in the market from a the total supply of 1 billion tokens.
  2. In November 2017, Unikoin Gold was began trading in the cryptocurrency market at an initial price of $0.318346. Due to the market volatility, UKG price reached its all-time high of $2.47 in January 2018. As of July 2018, the price is trending near $0.09.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 27, 2018

0.091618

0.102581

0.088272

0.096921

431,000

12,952,300

May 01, 2018

0.247929

0.248696

0.232101

0.245169

1,727,950

34,963,500

Mar 01, 2018

0.301941

0.334956

0.290369

0.325797

1,117,310

42,407,900

Jan 01, 2018

0.602096

0.648022

0.522398

0.598422

3,005,680

80,795,000

Nov 06, 2017

0.318346

0.328532

0.208294

0.208294

78,456

-

 

#5 - How is Unikoin Gold different from other cryptocurrencies?

  1. The main difference that Unikoin Gold has from other cryptocurrencies, is its purpose. While most cryptocurrencies aims to be an alternate peer-to-peer payment system, Unikoin Gold is meant to facilitate different operations on Unikrn platform.
  2. Unocoin Gold can be used for many purposes in the Unikrn ecosystem and is part of a dual token system. Unikoin Silver is an internal token and has limited usage, while Unikoin is used for accessing some premium content on the platform.
  3. Unlike most cryptocurrencies that have pre-defined usage across the world, Unikoin Gold usage are greatly affected by the different jurisdictions. Its functions can be restricted depending on the jurisdiction it’s being used.

 

#6 - Should you invest in Unikoin Gold?

  1. Esports is a booming industry and seems to be continuing this growth in near future. According to the Newzoo’s report, the industry is estimated to be valued $1.4 billion by 2020. Unikrn is taking advantage of these opportunities by leveraging the blockchain which increases its growth potential.
  2. The Unikrn platform benefits from a skilled team. Many members in the team have years of experience in the esports or gaming industry. The platform itself has been around since 2014, which grants it an advantage in form of an already established user base to use its token.
  3. Unikrn is presenting an attractive and use case and with the increased adoption of the platform, the token price should also grow. However, Unikrn also faces some tough competition from mainstream esports betting platforms and some platforms have even started accepting cryptocurrencies, a popular option is Bitcoin.
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