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In the new age of cryptocurrency, trading has become easier than ever with the creation of digital exchanges. One of the most recent trends in cryptocurrency is privacy coins, which provide additional layers of security for your transactions and are an alternative to Bitcoin. For many, the primary motivation behind buying a privacy coin is trading without being traced or having their transaction history open to the public. Adding to the privacy offered by privacy coins are those currencies focusing on providing an added layer of protection for transactions through blockchain technology.
What is NuCypher
Nu Cypher is a privacy coin that emphasizes security and security through cryptography. Utilizing blockchain technology, NuCypher provides a decentralized platform to encrypt and secure your transaction history and utilize their private NuBits for trading. NuCypher is the cryptocurrency of NuBlockchain, the company that provides NuBits, the trading currency for their platform. It allows users to create blockchain assets that are unique in their own right.
What Is Nu Coin
NuCoin is the cryptocurrency used within the Nu ecosystem. It is built on Ethereum and provides a seamless, convenient way to create your own tokens while trading securely and privately.
How It Started
The company was founded by Ben Lorica and Noah D. Strauss, two people with a passion for developing new technologies that leverage the power of blockchain. They began thinking about NuCypher in 2014 and named the currency NU Coin in 2016. It was initially a fork of Ethereum, but the team decided to make their own blockchain with a new smart contract system that features privacy and security.
How It Works
NuCypher provides a decentralized platform to encrypt and secure your transaction history and utilize their own private NuBits for trading. It is built on Ethereum, the technology that Bitcoin and other cryptocurrencies alike have used. NuCypher allows blockchains that utilize proof-of-stake algorithms to use their native currency, NuBits (NBT), as its base unit of exchange.
How to Invest in NuCypher
NuCypher can be bought and sold on a number of cryptocurrency exchanges, including IDEX and Kucoin. You can get over $100,000 worth of NuCypher through a coin-pairing program that pairs Nu with the US dollar. If you do not have enough Ethereum to do this, you can use a service like ShapeShift to convert Bitcoin or other cryptocurrencies into NuBits.
How to Buy NuCypher (NuBits)
You will need a wallet to hold NuBits. For convenience, you can use a MyEtherWallet or an MEW-compatible wallet like Jaxx. After you have sent your NuBits to your wallet, you can buy NU. Either of these coins can be traded for ETH.
Where to Buy NuCypher (NuBits)
You can make NuBits through the NuBits coin-pairing program. This process involves sending at least 1 ETH to the address provided, which will then send NBT to your NuBits address. Note that you cannot buy NuBits with ETH, and you can only send 1 of each cryptocurrency.
How to Store Your NuCypher
You will need a wallet to store your NuBits. For convenience, you can use a MyEtherWallet or a MEW-compatible wallet like Jaxx.
How To Trade NuCypher
When it comes to trading on this particular cryptocurrency, there are few options available. However, several deFi crypto exchanges offer trading pairs with NuBits, including IDEX, Kucoin, and Tidex. To trade on these exchanges, you will need to have a wallet compatible with the exchange and some NuBits.
Benefits of NuCypher
NuCypher provides a decentralized platform that uses cryptography and blockchain technology to encrypt and secure transactions and create unique blockchain assets. This makes it ideal for anyone who wishes to trade privately with others who use NuCypher. Additionally, the privacy offered by NuCypher is beneficial for those who wish to hide their transactions from the public and have their transactions remain secure until they are completed.
Cons
The cryptocurrency is still in its early stages and not yet listed on even modest exchanges. However, once it is, it will be an easy way to get your hands on NuBits, which are a currency used by NuBlockchain for trading. NuCypher is also an ERC-20 token, meaning that you can use it with the Ethereum blockchain. However, as it migrates to its own blockchain, this might become a problem.
The Future of NuCypher
NuCypher is still a relatively new cryptocurrency, gaining more attention as time goes on. They have had no official ICO, meaning that they never sold any tokens to the public. Instead, they have funded the development of their platform with a coin-pooling program that sees users send at least 1 ETH to the NuBits address provided. The rest of its funds are then used to develop and maintain NuCypher. NuCypher is still in its early phases and is not listed on coinmarketcap or even with a market cap on CoinCodex. However, once the coin becomes more widely accepted and is listed on other major exchanges, it could be a good investment for those who wish to buy into the cryptocurrency. As with most cryptocurrencies, performing due diligence before investing is important.
Final Thoughts
Nu Cypher has a lot of potential, and it could become a good investment for those looking to invest in cryptocurrencies that offer a greater level of privacy. However, it is still in the early phases and not yet listed on any major exchange. As NuCypher’s popularity grows and becomes more widely accepted and widely used, it could be a promising cryptocurrency for trading or investment.
