Last Updated: 25 April 2018 Hello and welcome to the official NavCoin subreddit! Please be mindful before posting. It is likely that someone has already asked the same question before you so please search the sidebar and use it as a directory prior to submitting your post. In addition, the NavCoin Knowledge Base has a repository of resources guides to help answer commonly asked questions. Furthermore, NavTechServers.com, a website made by one of our community contributors, has a store of videos tutorials compiled from our most popular questions.
What is NavCoin
Cryptocurrencies are complicated, and it’s NavCoin’s mission to change that. Simplifying cryptocurrency is our motto; NavCoin is a non-profit, peer-to-peer based project that is completely decentralized and open-source. If you’re interested in the details, NavCoin was initially forked from Bitcoin in 2014. And while it offers all the benefits of Bitcoin, it has been greatly enhanced such as faster and cheaper transactions. SegWit has already been voted on and activated by the community. This enables further advances in development; such as the current development of the Lightning Network (aka instant transactions). You can also choose to send optional anonymous/private payments via NavCoin’s flagship NavTech private payment technology. This next generation blockchain also provides a Proof of Stake (PoS) algorithm to secure the network. To learn more about how PoS is more beneficial than Proof of Work (PoW) and to how you can earn 5% annually, please read the section on Proof of Stake below!
Who are contributors of NavCoin?
NavCoin is made up by contributers from all around the world - helping with the development of the core project, creating websites, and writing articles explaining how it all works. Nobody owns or controls NavCoin which means that everyone can take part. You can view a list of core contributers to the NavCoin project here
How to get involved?
Become an active community member and help promote NavCoin! Message the moderators or join us on Discord to get in touch with questions, feedback, or ideas. Show your support by wearing official NavCoin Merch! To be added soon, stay tuned!
The NavCoin Core Developers are working towards making the navcoin.org website fully open source so anyone from the community can submit updates or changes through GitHub - think of the NavCoin.Org site as you would a Wikipedia page.
NavPay is simple and easy to use! Join the thousands of users that pay for goods and services, process payments, make transfers to family and friends, and more! NavPay is fast, with wallet to wallet transactions around five seconds or less, block confirmation times of 30 seconds or less, and extremely low-cost transactions (0.0001 NAV), never worry again about paying those high fees to Visa, Mastercard, or any other major credit card company for your transactions. NavPay is safe! Users have the option to send in-app anonymous, private payments. NavPay Website
How can I accept NavCoin as a Merchant?
NavCoin’s mission is to make NavCoin the world’s most widely used cryptocurrency on the planet. NavPay, NavCoin’s mobile app & desktop wallet, has never made it so easy to accept cryptocurrency for your business, whether online or in store!
Please send an email to [email protected] for collaboration or if you need any further information. If you have any marketing proposals, please send an email to [email protected]. Additionally, many of our core contributors are active on discord.
How do I buy NavCoin?
The cheapest way to get NAV is through an exchange.
Buy Bitcoin or Ethereum - for example using LocalBitcoins
Join an exchange such as Binance, Bittrex, or Poloniex, and transfer your Bitcoins to your account. Some exchanges require verification for trading or withdrawing.
Once there find a NavCoin trading pair (such as BTC-NAV or ETH-NAV) and make a transaction. You set the price you want to pay and how much you want and wait until someone matches that offer.
You now have your NAV! The next step is to send this to your wallet and start staking and/or spending and receiving NAV. Tutorials for setting up a wallet are available here
NavCoin uses a Proof of Stake (POS) algorithm to secure the network. This has many added benefits versus Bitcoin’s use of Proof of Work (POW) to mine and confirm blocks and transactions. The benefit of using POS is that it is lightweight, requires extremely low energy consumption, and you don't need huge servers or farms to mine NavCoin. All you need is to install a Core Wallet, turn on staking mode, and you will earn 5%p.a. on the amount in your wallet. It’s that simple!
With the Community Fund in the final stages of development, get your community fund ideas ready! Anyone and everyone on the network will be able to propose projects, budgets and initiate network votes to schedule funds, through their staking rewards.
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