Namecoin Trading 17.2% Higher Over Last Week (NMC)

Namecoin (CURRENCY:NMC) traded 2.2% lower against the US dollar during the 24-hour period ending at 20:00 PM E.T. on January 19th. In the last week, Namecoin has traded up 17.2% against the US dollar. One Namecoin coin can now be bought for about $0.55 or 0.00006294 BTC on cryptocurrency exchanges including Bittylicious, Bleutrade, Poloniex and YoBit. Namecoin has a market cap of $8.05 million and approximately $5,512.00 worth of Namecoin was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed in the last day:

  • Bitcoin (BTC) traded 3% lower against the dollar and now trades at $8,665.32 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 3.3% lower against the dollar and now trades at $334.72 or 0.03862846 BTC.
  • Steem (STEEM) traded 10.5% lower against the dollar and now trades at $0.17 or 0.00001905 BTC.
  • Unobtanium (UNO) traded 1.4% lower against the dollar and now trades at $54.64 or 0.00627205 BTC.
  • Counterparty (XCP) traded 13.9% lower against the dollar and now trades at $1.22 or 0.00013963 BTC.
  • Color Platform (CLR) traded down 5.5% against the dollar and now trades at $0.0122 or 0.00000140 BTC.
  • Crown (CRW) traded down 3.1% against the dollar and now trades at $0.0462 or 0.00000530 BTC.
  • Terracoin (TRC) traded down 3.2% against the dollar and now trades at $0.0358 or 0.00000412 BTC.
  • PIXEL (PXL) traded 1.8% lower against the dollar and now trades at $0.0179 or 0.00000205 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.

Namecoin Profile

Namecoin (NMC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis date was April 18th, 2011. Namecoin’s total supply is 14,736,400 coins. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible here. Namecoin’s official website is www.namecoin.org.

According to CryptoCompare, “It is based on the code of bitcoin and uses the same proof-of-work algorithm. It is limited to 21 million coins. Each Namecoin record consists of a key and a value which can be up to 520 bytes in size. Each key is actually a path, with the namespace preceding the name of the record. The key d/example signifies a record stored in the DNS namespace d with the name example and corresponds to the record for the example.bit website. The content of d/example is expected to conform to the DNS namespace specification. The current fee for a record is 0.01 NMC and records expire after 36000 blocks (~200 days) unless updated or renewed. Namecoins used to purchase records are marked as used and destroyed, as giving the fee to miners would enable larger miners to register names at a significant discount. “

Buying and Selling Namecoin

Namecoin can be purchased on the following cryptocurrency exchanges: Bleutrade, Bitsane, Bittylicious, Tux Exchange, YoBit, WEX, SouthXchange, BX Thailand, Livecoin, Trade By Trade, Poloniex, Cryptopia, C-Patex and Altcoin Trader. It is usually not possible to purchase alternative cryptocurrencies such as Namecoin directly using US dollars. Investors seeking to trade Namecoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Namecoin using one of the exchanges listed above.

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