Cryptocurrencies have become an interesting topic in various countries. In some countries, cryptocurrencies are designed as country-based alternatives to Bitcoin. One country, Iceland, introduced its first country-based crypto – Auroracoin (AUR). This cryptocurrency aims to recover from the 2008 financial crisis and build a borderless payment system for Icelanders. know more about Secret Network Cryptocurrency by clicking here.
Auroracoin has become a good investment option for people from Iceland. In this article, we will learn what Auroracoin is, how much it costs, and why it is a good investment option. By the end of this detailed, informative article, you will have a complete overall better understanding of whether or not to buy this digital currency. So, let’s get started-
Table of Contents
What is Auroracoin?
Auroracoin, an Iceland-based digital currency, was originally developed in 2014 as a payment method. A group founded this with the pseudonym Baldur Friggjar Odinsson. This virtual token was launched for the people of Iceland. This crypto was airdropped to the people, and it was half of the total supply – 21 million. However, this experiment failed as the market value of this coin suddenly dropped.
But in 2016, it was relaunched, and it turned out to be a successful experiment. A group of volunteers, Mychel Habets, Mikael Hannes, and Martin Jansen, maintain the Auroracoin and its value in the market.
How was it developed?
Auroracoin was derived from Litecoin, which derives from Bitcoin. In 2016, Auroracoin was relaunched with the Digibyte blockchain, a variation of Bitcoin, using a similar proof-of-work version. It works as payment work for Icelanders.
You don’t need to create a digital wallet on the other platforms as this token has its wallet -Aurorcoin Core Wallets, that can be used for Windows, Mac, Android, and Linux. When it comes to talking about the use of these wallets, you can seamlessly do that on your Android devices using Chrome. You can use the Coinomi blockchain wallet to do Auroracoin transactions.
How much does Auroracoin cost?
In 2022, the Auroracoin price was recorded at $0.1781. It is recorded as a huge drop in the price of Aurorcoin from 2014, which was @60. The lowest price was recorded – at $0.035 in August 2014. After that, it was completely acknowledged as a failure.
The economic stagnation also influenced the market value of Auroracoin. Recently, it has lost a huge amount of its value because of other external reasons. The current price is US $0.0204, with a 24-hour trading volume of $13.
How to buy Auroracoin
If you want to buy Auroracoin, you can create your digital wallet on platforms such as Coinami or Auroracoin wallet. When you think of buying a crypto coin, popular exchange platforms, such as Coinbase or Gemini, come to mind. However, Auroracoin only sometimes gets exchanged on this favourite platform.
Buying bitcoin is easy but varies depending on your location. There are other common exchange platforms for this cryptocurrency, such as ISX, FreiExchange, and YoBit. However, YoBit and FreiExchange will only allow you to trade Bitcoin for Auroracoin if you have purchased a Bitcoin before. You can look at this bitcoin code site to learn bitcoin trading.
Besides, if you want to buy Auroracoin on ISX, you must have Icelandic krona. However, it might be trendy and easy for Icelandic traders to trade Aurorcoin. But still, many people find BTC a good investment option instead of swapping it for Auroracoin.
Is investing in Auroracoin a wise idea?
Depending on your objectives and portfolio strategy, you can determine whether investing in Auroracoin is smart. It is one of the smallest cryptocurrency tokens; no other country has accepted its adoption, and it is restricted to transactions in Auroracoin. People are not invested in Iceland, and no one uses it outside of Iceland. As a result, it could not offer you the opportunity for future growth that you’re seeking.
Conclusion
You can purchase Auroracoin if you are still interested in this digital currency and living in Iceland. There is no chance of buying such an investment living in parts of the world. When we talk about Bitcoins, it is, no doubt, a good investment option if you want to dive into the crypto world. You can take a chance with a trading app and start investing in bitcoins.