What is SYS? Syscoin cryptocurrency review
Syscoin is a block platform that, like Bitcoin, facilitates transactions with extremely low cost, but is primarily focused on creating the infrastructure necessary to attract business to the blockchain.
Instead of focusing solely on value transfer, Syscoin provides support for both decentralized and centralized markets.
A bit of history
Syscoin cryptocurrency was born in 2014. Immediately after the opening, the platform decided to sell part of its tokens on one of the exchanges, so they were able to attract 1,500 bitcoins.
In 2015, Syscoin joined the SuperNet network, and in 2016, the Microsoft Azure cloud service. In the same year, developers launched the anonymous Blockmarket platform.
But all these events did not have any impact on the value of the SYS coin, but in 2017 everything changed. A significant event for Syscoin was the decision to reduce the number of emitted coins by 2 times, after which the course jumped.
However, the most interesting element of the platform is “Blockmarket” – a combined wallet and the Syscoin market. Blockmarket wallet provides users with the tools necessary for both buying and selling, as well as for sending and receiving currency or encrypted messages.
But what is Blockmarket? Think of it as a revolutionary decentralized ebay where you can buy and sell with very low commissions (so low that it doesn’t matter).
Syscoin Identities aims to store identification information off-chain with chain linking, allowing users to store more identification information without slowing down the chain. This process also allows the platform to add features and develop Syscoin Identities specifications without branching the network. The platform plans to develop an Identity solution in parallel with the features developed by the Decentralized Identity Fund (DIF).
However, some of the latest features released by the platform are the most interesting. At the end of last year, Syscoin announced the integration of marker issuance features into the platform. This feature could potentially allow users to create loyalty programs based on tokens, reward systems, or even launch their own ICOs on the Syscoin blockchain.
The platform also recently announced the functionality of Instant Asset Transfer, which has some strong real-world use cases that may be in high demand. The instant transfer of assets on the Syscoin network may allow users of the prediction market platform to receive and withdraw cash from online casinos without waiting for long confirmation periods or traditional fiat bank transfers, or allow users to use SYS for instant purchases in the game.
How to get cryptocurrency, where to buy and exchange
For the convenience of users, special sites have been created – exchangers, where you can easily exchange digital coins. The BestChange website contains a large list of exchangers in the form of a table that can be accessed with one click of the mouse. There is also a built-in function ‘Calculator’, which will help to get the exact amount of money. Withdrawing money through exchangers is the most common and optimal.
To convert the Siskoin cryptocurrency, the necessary algorithm of actions is as follows:
- Selection of the exchange office of interest and transition to its website;
- The conversion of Sys cryptocurrency into bitcoins, which at this stage will serve as an intermediate currency;
- Conversion of bitcoins into real money, verification and confirmation of all requested data;
- Notification of the success of the operation.
If the offered exchangers do not have a suitable rate for you, then your funds can be stored in the Siskoin wallet until the rate increases.
The BestChange website is constantly updating data, so you are guaranteed to receive reliable information at the moment. Also, BestChange service works only with trusted exchangers, which, in turn, guarantees complete security of transactions and protection from fraud.
Pros of cryptocurrency Syscoin
The indisputable positive characteristics of the Siskoin cryptocurrency include:
- Beautiful token design, which has superiority over other altcoins;
- Simplicity and ease of use of digital money data in work;
- Excellent speed of transfers, all operations are almost instant;
- The ability to seek help from a support service and prompt answers to questions;
- Due to the rich functionality (its own universal cryptocertificates, trading floors, pseudonyms and the ability to exchange data), Syscoin cryptocurrency has great prospects.
The only drawback at the moment, most likely, is the too low (underestimated) rate of Syscoin.
Syscoin has become not just another digital currency, but a real business platform, integrated directly into the Blockchain. Due to this, it is electronic cash and financial infrastructure at the same time.
The coin has formed its own circle of supporters, ready to engage in production and sale, which means to support the life of this digital currency. This ensures the stability of the course.