• Era (ERA) Price

    Bitcoin is one of the first blockchain-based projects that has been developed with the idea of creating a decentralised currency whose circulation is not governed by a central authority. Needless to mention, this idea was received positively by millions across the world. Furthermore, Bitcoin’s rise to prominence also started a gold rush for other developers to capitalise on. As a result, numerous cryptocurrencies came into existence, all of which have fairly similar features. One such currency is ERA coin - a part of the ERA Network.

    What is ERA?

    ERA Network is among the newest entrants in the cryptocurrency space. The project is still in its early stages, but it has laid out a comprehensive roadmap for the year 2018. The name of the coin is a play on the word ‘era’ as the official website claims - ‘ERA ushers you into a new era in the decentralised cryptocurrency arena.’

    The aim of ERA is to become the most user-friendly and scalable cryptocurrency whose transactions are confirmed instantly. In addition to this, the ERA Network also aims to provide high security to its transactions in order to prevent problems like double spending and records alteration.

    On a closer look, it appears that ERA is not different from its peers in the cryptocurrency space. This implies that the competition is significantly high which, in turn, may play an important role in the appreciation of its value over time. Apart from this, its acceptance is by vendors and merchants is another factor to be considered in judging this new digital currency.

    Secondly, the official website of ERA Network claims that the coin is ‘Highly Rewarding’ with high return on investment. This definitely raises questions about the legitimacy of the cryptocurrency, considering that the project hasn’t released a whitepaper as of May 23, 2018. However, the roadmap laid out by the project has mentioned that the official whitepaper will be released sometime in Q2 2018. This is bound to give this project some much-needed clarity.

    The maximum supply of ERA tokens is capped at 240,000,000 which will be achieved by the year 2030. The algorithm utilised by the ERA Network to achieve consensus is hybrid, comprising Proof-of-Work and Proof-of-Stake systems. It is worth mentioning that the algorithm utilised by the ERA Network is ASIC resistant, thus making mining possible for those without the specialised mining rigs. The mining reward in the case of PoW system and the PoS system is 10 ERA coins, regardless of the number of coins that have been staked.

    Where to buy ERA coins?

    ERA coins are available for purchase only on two exchanges so far - CoinExchange and Stock.Exchange. This may change in the near future, however.

    ERA Token Wallets

    The ERA Network has developed wallets which are capable of storing ERA coins. These wallets, available for Windows, Mac, and Linux, can be downloaded from the official website. Alternately, you can also download a web-wallet from the official site.

    ERA Mining

    As mentioned earlier, it is possible to mine ERA coins. You can choose to go for Proof-of-Work system or Proof-of-Stake system. To get started, you need to download the official wallet client.

    ERA Price Trends

    As of May 23, 2018, the price of 1 ERA token is approximately 0.03 USD. The coin came into existence only recently and therefore, had its first bull-run sometime between late March and early April. The best the coin has done so far is crossing the $0.2 mark, only to lose its newly found momentum in the subsequent weeks. At the same time, the trade volume is in the order of a few thousand, which, in comparison to other players, is significantly lesser.

    It is yet to be seen how the coin will behave in the near future, but considering that the project is still in its early stages, it is definitely going to be volatile.

    DateOpenHighLowCloseVolumeMarket Cap
    5/30/20180.0249990.0254550.021120.024067-1177
    5/29/20180.0254420.0255080.0205410.024996-942
    5/28/20180.0279340.0296430.0172150.025015-746
    5/27/20180.0311190.0311840.027630.027937-981
    5/26/20180.0318440.0326560.0301290.03111-1057
    5/25/20180.0346120.0357450.0315460.031853-1716
    5/24/20180.0363110.0397440.0323080.034569-1369
    ViewMoreLess

    Risks Associated with Investing in ERA

    The ERA Network is a relatively new project that is yet to gain traction like its more popular peers. It is going to be quite volatile like every other digital currency in this space and therefore, investing in it from the perspective of making a quick buck may not seem like a feasible idea. In such a scenario, we advise you to act cautiously and invest your money in safer instruments like mutual funds.

    Disclaimer:

    "The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

    A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

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