Widecoin Review 2021
The impact of technology has impacted various economic sectors differently. The payment systems have had their fair share with the introduction of digital currencies. Today, customers and merchants are embracing new payment methods. The crypto markets keep expanding every day with the introduction of new cryptocurrencies and stablecoins. Cryptocurrency is the future of a decentralized economy since it has all its transactions recorded on an incorruptible ledger known as Blockchain. In this Widecoin review, we will critically analyze some of its features and benefits.
Widecoin is a decentralized digital currency running on reliable and secure blockchain technology. It allows users to manage their cashless payment transactions via a unique digital wallet rooted in a unique digital signature. This currency is accessible through PCs and mobile devices running on different operating systems. Widecoin uses WCN as its ticker.
According to David Jack’s whitepaper, the objective of the Widecoin project is to provide a simple and secure diversified digital asset portfolio. It allows users to make instant payments through a decentralized Peer-to-Peer (P2P) technology through a WCN core, open-source software which supports Widecoin.
How does it work
The main objective of the Widecoin project is to offer a simple customer service that supports a diversified financial product offering and crypto trading. It helps minimize transaction costs while eliminating brokers. Users can purchase and exchange WCNs directly from DEXs reliably and securely. Widecoin team targets retail and private platforms globally, with WCN holders able to access and transact on the Widecoin platform. New users can enjoy the benefits of using WCNs by following the simple steps below:
- Purchase and deposit Widecoin to get WCN coins
- Install the WCN app on your mobile device or PC.
- Transfer your WCN coins to your mobile wallet app or PC wallet after approval
- Start transacting or trading using WCN coins
Widecoin comes with unique features which users might consider before purchasing it over other existing cryptocurrencies. These features include:
- Accessible and transparent transactions – All WCN transactions are recorded on an immutable digital ledger that is accessible to everyone with a transacting address. You can easily access all transaction history using a WCN block explorer.
- Minimal transaction fees – Since users can trade and transact directly with the exchange platforms, there are lower transaction costs while using the Widecoin platform.
- Secure platform – With zero inclusion of 3rd party intermediaries, users can be sure of a zero-risk environment.
- System availability – 24/7 uptime is syncing with the Widecoin nodes around the globe.
- Accessibility – The Widecoin platform is easily accessible using mobile or PCs.
Problem and solution
Physical currency has been associated with unreliable exchange rates, inconveniences in transfers, and higher exchange fees. Many investors have also been left out of crypto investment because of conflicting information and automatic onboarding. To address the general interests of investors to invest in cryptocurrency, Widecoin is a reliable and straightforward gateway to the crypto world. Widecoin addresses the challenges of complex trading platforms and missing records in physical ledgers. It also solves undiversified and unsecured portfolios among amateur traders who trade against bots on manipulated exchange platforms.
Here is the catch:
Widecoin makes it easier for users to create simple payments, spread their financial risks over several cryptocurrencies, and minimal transaction costs. Lastly, through its exchange platforms, it eliminates 3rd party intermediaries.
Widecoin leverages the power of Blockchain technology which provides an encrypted database of agreements. The Widecoin platform acts as a distributed and public ledger platform with all its transaction recorded on numerous computers, making it impossible to delete or alter records on the network. The database is managed separately through a P2P network and is based on a distributed time-tamping server. Network validation relies on mass collaboration by a group of dedicated individuals.
Widecoin users rely on various mining pools, which offer different mining fees of up to 1.5%. The top mining pools include:
According to the whitepaper, hashrate is determined by the capacity of mining hardware. Thus, in every 5 minutes, 10 blocks are found.
WCN relies on Proof-of-Work (PoW) consensus, uses the SHA256 algorithm, and has a total coin supply of 35,000,000 WCNs.
How to buy coins
You can easily buy WCNs on BankCEX, Scalaris DX, Bitsails, and upcoming exchange trading platforms using established cryptocurrencies such as BTC or USDT.
Widecoin wallet is available in two versions; Core and Lightweight wallets. They can easily be installed on PC and mobile devices running on various operating systems.
Pros & Cons
- Fast and secure transactions
- Minimal transaction costs
- Transparent roadmap
- Reliable customer support
- Multiple wallet versions
- Limited information on Widecoin Website
Where can you buy WCN coins
Users can buy WCNs on BanCEX, Scalaris DX, Bitsails, and upcoming exchanges.
What are different WCN wallet versions available?
Users can download either the Core Wallets or lightweight wallets on their PCs or mobile devices.
What is the coin mechanism behind WCN?
WCN relies on Proof-of-Work (PoW) consensus and uses the SHA256 algorithm.
What is Widecoin?
Widecoin is a cryptocurrency project running on a reliable and secure blockchain technology that allows users to manage their cashless payment transactions via a unique digital wallet rooted in a unique digital signature.
Despite the limited information available about the Widecoin project, it stands out as a promising cryptocurrency project in which investors can pump their money. All investors will be rewarded with WCN and become members of the Widecoin community, which is still developing. Once completed, Widecoin will be a leading global P2P digital payment system.