• Gulden (NLG) Price

    Ever since Bitcoin and Ethereum rose to prominence, there has been a sensational growth in the cryptocurrency space. The number of altcoins - coins which serve as an alternative to the popular cryptocurrencies - have increased practically overnight. Some of these digital currencies are attempting to mirror coins like Bitcoin while others are looking to leverage the blockchain technology and take it beyond the traditional realm of the peer-to-peer payment system. Gulden is a project that falls under the first category.

    What is Gulden?

    Gulden (NLG) is a cryptocurrency that is based in the Netherlands and it primarily targets the European markets.  It is quite similar to Bitcoin in the way that it serves as a decentralised, peer-to-peer payment system. Gulden has the following features:

    • With Gulden, it is possible to send money to each other
    • It can be used to pay merchants and vendors who accept Gulden as a mode of payment. This is supported by the application Nocks.co, which specialises in this very field
    • Gulden is also acceptable by those merchants who accept Bitcoin. This is possible owing to the conversion engine that is built into the app
    • It can also be sent to any IBAN account, and the limit is 500 EUR per transaction

    Gulden Network is quite fast, 100% secure and according to the official whitepaper, it is incredibly scalable. Furthermore, the network is reliable and fast, keeping it well in line with other prominent digital currencies. Its blockchain utilises ‘an improved successor to the Proof-of-Work’ system in order to achieve consensus throughout the network. This consensus mechanism is known as PoW².

    Without getting too technical, all you have to know is that PoW² system is run by two classes of people- miners and witnesses. Miners are those parties that mine the blocks on the Gulden blockchain in a way that is followed by the Proof-of-Work system. Once a block has been mined/discovered, it is submitted to the entire network.

    However, instead of adding this new block to the tip of the blockchain, which is the case with the traditional PoW system, an eligible party known as witness signs the block using his private key. Additional data to the block is added in this step. This data includes a witness timestamp, additional transactions, et cetera. Once the witness signs the block, it is then broadcasted to the entire network and is added to the original blockchain. After this, the process repeats itself.

    Keep in mind that in order to become a witness, you need to stake a fixed amount of NLG tokens. Considering that witnesses are rewarded with Gulden tokens for their efforts in achieving consensus, staking NLG tokens may not seem like a bad idea.

    According to Coinmarketcap, the total supply of NLG tokens is capped at 468,920,400. Of these, a little over 396 million coins are in circulation. The block time is 2.5 minutes and the block reward is 100, of which 20 goes to the witness while the remaining 80 goes to the miner.

    Where to buy Gulden Tokens?

    It is possible to purchase Gulden coins from the official website of the cryptocurrency. It is also available on LiteBit.eu, one of the leading cryptocurrency exchanges in Europe. Apart from these exchanges, you can also find it on Nocks - a platform designed solely for purchasing Gulden, Bittrex, and YoBit. Since Gulden is based primarily in Europe, you will have to purchase it against EUR.

    Gulden Wallets

    The best way to store your NLG tokens is in the wallets provided by the entity behind the development of Gulden. It can be downloaded from the official website and is available for a variety of operating platforms. Alternately, you can also consider storing your Gulden tokens in a hardware wallet like Nano Ledger S or Trezor.

    Gulden Mining

    As mentioned earlier, it is possible to mine Gulden tokens. You can do this either as a miner or as a witness. While the latter option may seem relatively simple, you will have to stake in a fixed number of NLG tokens, for a fixed period of time. However, for your efforts, you will be rewarded with 20% of the block reward. In a way, this is like earning a return on your investment. In order to get started with mining, all you have to do is download the official client wallet from the website and join any of the mining pools available.

    Gulden Token Price Trends

    As of May 15, 2018, the price of 1 NLG token is approximately 0.09 USD. In terms of price, this digital currency has followed a path that is similar to almost every other cryptocurrency in the same space. The price started to surge slightly through the months of May 2017 to September 2017, but it wasn’t until December that the price of Gulden token skyrocketed.

    In early December, the price of 1 Gulden was around $0.08. By mid-January 2018, following the dramatic rise in the popularity of cryptocurrencies, the same token was now trading at around $0.4. This translates into an increase of more than 400% in value, in just a matter of a couple of weeks. When the bubble collapsed, the price took a sharp nosedive and the coin lost its recently made gains just as quickly as it made them. By April 2018, it was back to its earlier levels of $0.1.

    DateOpenHighLowCloseVolumeMarket Cap
    5/30/20180.0951320.0972780.0896310.09119137890800183131
    5/29/20180.0818510.0978350.081520.09528732596300366001
    5/28/20180.0863030.0870540.0814850.08188734363900112242
    5/27/20180.0871490.0874430.0851990.0865213469580078112
    5/26/20180.0885890.0902630.0870830.0871523526360059167
    5/25/20180.0901690.0911490.0876130.0886663588730094138
    5/24/20180.0888330.0909180.0855980.09013335350300117347
    View MoreLess

     

    Risks Associated with Investing in Gulden

    At the end of the day, Gulden is a cryptocurrency that is a part of a new asset class. Just like its peers, it is still subject to a great deal of volatility and regulatory hurdles. In addition to this, the competition in this space is incredibly high and in terms of its features, there are many coins which may very well fare better than Gulden.

    Therefore, instead of investing your money in this digital currency, it is recommended that you consider other safer instruments like mutual funds. They are relatively safer, legal, and can generate decent returns in the long run.

    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."

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.