What is ment by the term Noblecoin?
The formation of Noblecoin
Bitcoin was the first cryptocurrency and was created in 2009. The price increased rapidly after just a few years. The success of Bitcoin encouraged other developers to create more cryptocurrencies.
One of them is Noblecoin, created in 2014. The NOBL blockchain is based on two other cryptocurrencies – Florincoin and Peercoin. Noblecoin was originally created to facilitate donations and serve other philanthropic purposes.
Advantages and disadvantages
Cryptocurrencies such as Noblecoin are not recognized as “real” money. Therefore, anyone who owns Noblecoins cannot usually exchange them at a bank for euros or US dollars. Businesses are also not required to accept NOBL or any other cryptocurrency as a means of payment.
The most important use of cryptocurrencies is the Internet. In certain online shops, the digital means of payment certainly have a value. Accordingly, a merchant may choose to accept a digital currency as a means of payment.
Noblecoins are not tied to a particular country. This facilitates the transfer when two transaction partners are in different countries.
Proponents of cryptocurrencies see digital money as a safe alternative to conventional investments. Noblecoin, Bitcoin and the others are all safe and secure; however, this still has to be proved in practice.
Cryptocurrencies are largely decentralized, and therefore, independent of banks. However, some online platforms make it possible to convert the digital money into real money. Ownership of cryptocurrencies can indirectly lead to a real profit.
How much is a NOBL worth?
The value of these coins is not fixed but rather fluctuates. The development is comparable to a share price on the stock exchange. Ultimately, speculation, supply and demand determine how much Noblecoins are worth.
Accordingly, the exchange value does not necessarily correspond to a real equivalent value. In a sense, the value is determined by all people who use Noblecoin. The influence of a single person is low – this fact is one of the advantages of a decentralized cryptocurrency.
The value of Noblecoins not only fluctuates over time but also depends on the demands and offers of the involved transaction partners. Frequently, exchange platforms, therefore, do not offer a single exchange rate for Noblecoins. For this reason, NOBL owners should compare different providers.
How can I get Noblecoins (NOBL)?
There are two ways to get to NOBL – buy or mine.
If you want to buy Noblecoins, contact an exchange platform, which, for example, offers the exchange of euro or US dollar for Noblecoin – interested parties must first make an investment.
Many providers also allow the exchange of other cryptocurrencies for Noblecoin. Most platforms accept Bitcoin, as well as other digital means of payment for the purchase price.
The second way to acquire NOBL is by mining. Using a computer’s CPU or graphics card, a prospector can help solve complex computational tasks. This work is done independently by the computer, if the prospector installs a suitable program. In addition, a wallet is required. The wallet is similar to an account.
Mining creates new Noblecoins, increasing the virtual currency overall. At the same time, the digital money is not freely accessible – the miners have to develop it with only their computing power. The computational tasks continue to increase in complexity to regulate the growth of the virtual currency.
To mine popular cryptocurrencies, miners need hugely powerful computers. Therefore, smaller miners often join together to form what are known as pools. Everyone contributes their computing power and receives a share of the coins that are generated.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.