Namecoin (NMC) Trading 11% Lower This Week

Namecoin (CURRENCY:NMC) traded down 3.4% against the dollar during the twenty-four hour period ending at 19:00 PM ET on September 21st. One Namecoin coin can now be bought for $0.52 or 0.00005152 BTC on major exchanges including Bitsane, Poloniex, Bittylicious and Cryptopia. Namecoin has a total market capitalization of $7.62 million and $4,387.00 worth of Namecoin was traded on exchanges in the last day. During the last seven days, Namecoin has traded down 11% against the dollar.

Here’s how similar cryptocurrencies have performed during the last day:

  • Bitcoin (BTC) traded down 1.4% against the dollar and now trades at $10,029.90 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 0.5% lower against the dollar and now trades at $312.82 or 0.03118576 BTC.
  • Steem (STEEM) traded 1.4% higher against the dollar and now trades at $0.17 or 0.00001667 BTC.
  • Unobtanium (UNO) traded 20.5% lower against the dollar and now trades at $60.60 or 0.00604479 BTC.
  • Counterparty (XCP) traded flat against the dollar and now trades at $1.79 or 0.00017888 BTC.
  • Crown (CRW) traded 0.2% higher against the dollar and now trades at $0.0516 or 0.00000515 BTC.
  • Terracoin (TRC) traded down 0.5% against the dollar and now trades at $0.0277 or 0.00000276 BTC.
  • PIXEL (PXL) traded flat against the dollar and now trades at $0.0074 or 0.00000073 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.
  • Zetacoin (ZET) traded 2% higher against the dollar and now trades at $0.0016 or 0.00000016 BTC.

About Namecoin

Namecoin (NMC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on April 18th, 2011. Namecoin’s total supply is 14,736,400 coins. Namecoin’s official website is www.namecoin.org. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible here.

According to CryptoCompare, “It is based on the code of bitcoin and uses the same proof-of-work algorithm. It is limited to 21 million coins. Each Namecoin record consists of a key and a value which can be up to 520 bytes in size. Each key is actually a path, with the namespace preceding the name of the record. The key d/example signifies a record stored in the DNS namespace d with the name example and corresponds to the record for the example.bit website. The content of d/example is expected to conform to the DNS namespace specification. The current fee for a record is 0.01 NMC and records expire after 36000 blocks (~200 days) unless updated or renewed. Namecoins used to purchase records are marked as used and destroyed, as giving the fee to miners would enable larger miners to register names at a significant discount. “

Buying and Selling Namecoin

Namecoin can be bought or sold on these cryptocurrency exchanges: Altcoin Trader, WEX, Bleutrade, Bittylicious, Poloniex, C-Patex, Tux Exchange, BX Thailand, YoBit, SouthXchange, Trade By Trade, Cryptopia, Bitsane and Livecoin. It is usually not presently possible to buy alternative cryptocurrencies such as Namecoin directly using US dollars. Investors seeking to acquire Namecoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Namecoin using one of the exchanges listed above.

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