What is ION Coin (ION)?

Introduction

The ION coin is a crypto currency based on a decentralized block chain. The community is rewarded with ION coins for participating in the proof-of-stake process (PoS).

However, ION Coin rewards active members instead of members who are already invested in the currency to prevent abuse by stock exchanges and inactive users.

In addition, ION relies on a static reward system so that the reward for activities is proportional to community participation.

This should strengthen decentralization and a healthy network. Furthermore, ION relies on immediate and private transactions.

What is behind the ION Coin?

ION sees itself as an intelligent solution for companies that focus on the development of games.

ION Coin is designed to create greater value for developers, players and investors. Ionomy defines three pillars that are relevant for further alignment.

The first pillar of the currency is the games area. The programmed games should be fun and reward the players.

All players compete for prizes paid out in ION Coin and make contact with other users.

In addition, points are gained that can be used in the ION Store. The second central pillar is the social aspect.

Ionomy focuses on the development of social components in the currency, so that the user profiles are visible and possibilities for networking exist.

The third central pillar is finance, because in addition to the actual crypto currency, there is also a financial platform that offers investment opportunities.

Active players can win rewards in the games like a faster growth of their own coins, stimulating both playing and investing.

Transactions are validated via the block chain. According to Ionomy, the community should do the main work and be rewarded by ION Coin.

Based on this approach, Ionomy’s team wants to focus on developing mobile games that are the heart of Ionomy.

In addition, the community is encouraged to improve the currency by further code optimization, which improves decentralization.

With this option, the development of the cryptocurrency can be actively co-designed by the community.

As soon as the community wants certain features, this can be communicated and implemented in a proposal.

These requested features are referred to as “pulls” and are first implemented in a test environment so that the written code can be tested for functionality and defined requirements. The test phase is followed by implementation in ION.

What does ION Coin offer?

Behind the cryptocurrency ION is Ionomy, a team of six from the USA. The CEO of IONS is Richard Nelson.

The role of the chief strategist is incumbent on Adam Matlack.

Thomas Le takes on the role of the leading game developer, while Jordan Smith and Mitchell Cash take over further programming. The main contact person for service requests is Colin Adley.

What is the market capitalization of Ionomy?

In April 2016, ION’s Initial Coin Offering was held at an issue price of USD 0.20 per coin.

At the present time, ION’s exchange rate is USD 2.23, which means that the currency has a market capitalization of USD 40.7 million.

The daily trading volume is also around USD 1.5 million. A total of 22.5 million ION coin coins are available on the market, of which 16.6 million are already in circulation.

The historical high point of ION Coin was recorded on September 1st at a value per coin of $1.95 USD.

You can’t buy it directly for fiat on any exchange. You can choose the best BTC exchange for your region and buy BTC there, then trade it for ION on exchanges. Read here how you can quickly convert other coins to bitcoin and the other way around.

Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase has acceptable fees and limits and it is a leading platform for buying BTC.

If Coinbase doesn’t support your country, use Cex.io – read how Cex.io works – it is as good or even better than Coinbase. Coinmama is also legit exchange for buying cryptocurrenciesclick here to visit Coinmama.

If your country is not available on Coinbase – check for best Coinbase alternatives (such as Cexio and Indacoin – see here Indacoin exchange review) and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see if Changelly is secure place to buy crypto), instantly and directly to bitcoin.

Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet – our recommendation is just go and buy Ledger Nano S, it is the safest option.You can read our article on how to use Ledger Nano S wallet and where to buy it or check out other top physical crypto wallets here. You can also create a paper wallet – learn here more about crypto wallets.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.

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