SolarCoin (SLR) Analysis
Market Cap
$285,292 USD
Volume (24h)
$4,019 USD
Top cryptocurrency services
Solarcoin investment analysis
This interesting blockchain project is a dual algorithm coin. That means that it functions under both POS and POW models, allowing multiples ways for interested parties to earn coins. However, they will swap from a traditional mined method to one that incentivizes those who produce solar power instead.
Solar energy producers will have the opportunity to earn 1 coin for every MHW of energy they produce. This effectively will directly tie the value of the coin to the energy produced. Investors will still be able to earn money by participating in the proof of work phase of the program.
The only issue here is that there are many solar blockchain projects out there, and some of them have very large backing. While a Solarcoin investment could be an attractive option, they may not be able to beat out these larger competitors who offer greater features and larger networks that assist in the buying and selling of this power.
It's possible that SLR will need to step up their game to be a contender here, and investors should explore all of their options before putting any money down.
The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.
The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.
How to buy Solarcoin?
This coin is traded on only a handful of exchanges, but they do have at least one major listing which offers them a good deal of volume. While the trading volume is excellent, and it can support trades easily, it is unfortunately not spread out very well. This confines it to mostly one exchanges, and really only one trading pair. Bitcoin is the best option here to execute a trade, and while there are pairings for EUR, USD, and CHF, the volume is likely too small for these pairs to be useful if you want to buy Solarcoin.
If you're looking for a place to store your coins, then you're in luck. The developers for this project have created many different wallet options, and it's easy to find a wallet that will work for you. This includes client applications for Windows, Linux and Mac operating systems and also Android or iOS systems. It's important to remember that no matter what wallet you use, you should make sure to create a back up of it to save your investment from disastrous situations.
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