Home > Altcoins > Blackcoin
Blackcoin logo
Blackcoin with Poloniex

Blackcoin Guide | Learn Everything About BLK

Blackcoin logo
Blackcoin (BLK)
...
24H Change
...
7 DAYS CHANGE
...
Market Cap
...
Author: Eleonora Di Felice Updated: 27 January, 2022

When Bitcoin entered and exploded the market of centralized Fiat currency, the world awaited a revolution. And it started with the recession that followed in 2009, that made most people distrust and hate the banks and government. It gave an all new face to digital currency. After the dot-com boom in early twenty first century, digital currency took the world by storm. Bitcoin, the most popular digital currency or cryptocurrency of the world, was started in 2009, after which many others followed. The algorithm on which Bitcoin works is PoW (Proof of Work) algorithm that requires high processing power and a lot of energy. The electricity is used at a massive scale in Bitcoin mining farms, which is affecting the environment. If Bitcoin mining continues, there will be a lot of pollution as it somehow depends upon non-renewable resources and fossil fuels.

To curb this problem, BlackCoin founders created this sustainable and green cryptocurrency called 'BlackCoin', also known as BLK. BlackCoin cryptocurrency works on PoS (Proof of Stake) algorithm, which does not require a high processing power or has high demand of electricity. Where a typical Bitcoin transaction takes around 10 minutes to process, BlackCoin takes hardly a few seconds, only because of the algorithm difference.


Table of Contents

About BlackCoin

  • The first and foremost feature of BlackCoin is its anonymity. It is open-source project having a support by powerful investors. Being open source, it invites users from across the globe to come and participate in the network. The users only need to use BlackCoins, and manage the transactions to use this currency, and be an active member of the community.
  • Another thing that makes this network and community different from all other cryptocurrencies out there is its guarantee of reward. Other currencies heavily depend upon a lot of factors. Bitcoin and Ethereum face price hikes and drops regularly, and the value depends upon public demand and supply heavily. Whereas, BlackCoin guarantees 1% to 5% annual return, something that no cryptocurrency has so far been able to promise.

How is BlackCoin better than Bitcoin (BTC)?

  • BlackCoin (BLK) like other digital assets is decentralized, but it is true to its nature, because one or a few miners' communities do not control the coin. Bitcoin is heavily controlled, despite being decentralized, which is not the case with BlackCoin (BLK).
  • BlackCoin (BLK) uses Legionnaire feature that allows users to have stealth addresses, and provides complete anonymity to its users. With Bitcoin, if the users share their address anywhere on social media, they become vulnerable and their safety over the network becomes really easy to compromise. Whereas, BlackCoin provides stealth addresses that remain anonymous and change after every transaction. Even if shared on any public forum, your coins on the network will be secure.
  • Mining process is expensive, and not everyone's cup of tea. That is where PoS algorithm steps in and allows all users an equal status. PoS works on ownership of coins, rather than providing control to only those with high computing power.
  • Transaction fees that BlackCoin (BLK) network charges is negligible. Currently it stands for, around 0.0001 BlackCoin and has a low inflation rate of about 95%.

Some Noteworthy Features of BlackCoin (BLK)

BlackCoin has three main features, apart from the ones listed above -

  • Iris - Iris is a multi-signature wallet with a support for multiple coins. Using Iris, users can create their own assets on the blockchain network. Currently, Iris wallet is only in its testing phase.
  • PayBlk - It is a BlackCoin Wallet, hand-crafted for individuals and enterprises. You can download it from Google Play on Android mobile phones. All you need to do is scan the code like PayPal, and make the payment in an instant. The technology it employs, makes it impenetrable and impermeable in nature, hence completely secure and theft-free.
  • BlackHalo - It is a decentralized exchange, just like Coinbase, Mt Gox and others. It allows the users to create 100% unbreakable smart contracts, by enabling double deposit on both sides. Without any middle-men, or Escrow, you can now create contracts that are reliable and trustworthy. BlackHalo also enables users to switch currencies. You can convert your BlackCoin into Bitcoin if you wish to, just with the click of a button.
  • BlackSight - BlackSight is an open-source Blockchain explorer that allows users to write web-wallets and decentralized applications that require more sophisticated blockchain queries than provided by blackcoind RPC.

Buy BlackCoin (BLK)

You can buy BlackCoin (BLK) from any big exchanges that support it. Some of the popular names being - Coinbase, Poloniex, Bittrex, Upbit, LiveCoin etc. To buy BlackCoin (BLK) you can either use your regular government issued currency or you can also convert any cryptocurrency to BlackCoin, like Bitcoin or Ethereum. BlackCoin (BLK) is easy to store in the online exchanges, but storing them online can be dangerous. Experts recommend using other methods for a long-term storage, rather than online exchange because of the risk of hacking. There are many offline wallets that support BlackCoin, one of them being PayBlk itself. The original BlackCoin Wallet is highly recommended only because of its robust support system and easy to use functionality. The users can download the wallet from the official BlackCoin website. It will take some time to download the entire blockchain, but after that one time investment, it is easy to use. Paper Wallets like Trezor, KeepKey and Ledger S Nano are also good to store cryptocurrencies if you plan to hold on to them for years to come. These offline wallets work like a charm and only require the user to remember a private key to access the wallet. They are secure and have a solid support and recovery system in case the user forgets the key.

1
Min. Deposit
$10
Promotion
User Score
10
Accepts customers from the USA
Deposit $100 and get a $10 bonus!* Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.
2
Min. Deposit
$0
Promotion
User Score
9.3
No Hidden Fees
Instant Trading
Secure & Transparent
Start Trading
Description:
World's longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.
Payment Methods
Full regulations list:
3
Min. Deposit
$1
Promotion
User Score
8.7
0% deposit fees, 0% withdrawal fees, 0% trading commissions
Set up automated trades and up to 50 limit orders with ease
Buy and sell 90+ cryptos and utility tokens, precious metals and national currencies with as little as $1
Start Trading
Description:
Create your account in minutes and start trading 90+ cryptos and other assets on the most flexible trading platform.
Payment Methods
Full regulations list:
4
Min. Deposit
$1
Promotion
User Score
8.5
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Payment Methods
1Pay, 2C2P, 3d Secure Credit Card, ACH, ANELIK, Abaqoos, AdvCash, AlertPay, Alfa-Click
Algocharge, AliPay, American Express, Apple Pay, AstroPay, BPAY, Bank Link, Bank Transfer, Bank Wire, Baofoo, BitGold, BitPay, Bitcoin, Boleto, Bonds, Borneo Exchanger, Bradesco, CEX.io Mobile App, CFDs, CSS System, CUPS, CartaSi, Carte Bleu, Carte Bleue, Cash, CashU, Cashier Order, Check, Check (UK only), China UinonPay, China Union Pay, China UnionPay, ClickandBuy, Commodities, Contact, Contact Z, Credit Card, Cryptocurrencies, Currencies, DCPay, DIXIPAY, Dankort, Debit Card, Dengi Online, DineroMail, DirectPay, Dotpay, E-dinar, ELV, ENets, EPS, ETFs, EXCARD, Easy2Pay, EcoPayz, Ecommpay, Ecurrencyzone, EgoPay, Emerchant Pay, Eprotections, EstroPay, Ethereum, Euro Bank Account, Euteller, Express Dotpay, Express Polish Post Office 24/7, Express Zabka Market, Ezeebill, Ezybonds, FasaPay, Fastapay, Fastbank, Faster Payments, FilsPay, Forex, GTBank, Gate2Shop, Giropay, GlobalCollect, GlobalPAY, GlobePay, Gluepay, Google Pay, Halcash, I-Account, IPS, Ideal, Indices, Individual US State License(s), Indonesia Exchanger, InstaBill, Instadebit, IntellectMoney, Interswitch, Investmate, Investmate, Itukar, KNET, Klarna, LaoForexBoard, LavaPay, Lion Payment, LiqPay, Litecoin, Lobanet, MOTO, MT4, MT5, Mailing Cash, Market Maker, Masari, Mastercard, MegaTransfer, Mister Cash, Mobile Trading App, Mobile Trading Platform, Moneta, Money Bookers, Money Order, MoneyBookers, MoneyGram, MoneyPolo, Multibanco, NETBANX, Nab, Namecoin, Neosurf, NetPay, OKPAY, OMT, OmahPoin, OnPay.ru, Online Naira, OrangePay, PAYSEC, POLi, POLi & BPay, PYEER, PagoEfectivo, Paxum, Pay Nova, PayCo, PayPal, PayRetailers, PayWeb, Payeer, Payoneer, Payonline, Payvision, Payza, Perfect Money, PocketMoni, Postbank, Powercash 21, Prepaid MasterCard, Prepaid MasterCard (I-Account), Prepaid MasterCard (Intercash), Prepaid MasterCard (Payoneer), Privat 24, Przelewy24, QIWI, RBK Money, Rapid Transfer, RegularPay, SEPA, Safecharge, SafetyPay, SahibExchange, Shilling, SmartPay, Sofort, SolidTrust Pay, SorexPay, Sporopay, Stock Certificate, Stocks, Swish, Teleingreso, Thailand Exchanger, Ticketsurf, Todito Cash, Trade Interceptor, Transact Europe Payment, Trazus, TrustPay, Trustly, UAE Exchange, UPayCard, USD, Ukash, Unet, UnionPay, Unistream, Uphold, Verve, Vietnam Exchanger, Visa, VixiPay, VoguePay, Vouchers, Wallet One, WeChat, Web Based Trading Platform, WebMoney, WebPay, Webtrader, Western Union, Wire Transfer, Wirecard, Yandex, Yandex Money, Yemadai, YuuPay, Z-Payment, Zenith, cTrader, dinpay, eCard, eCheck, eKonto, ePay bg, ePayments Transfer, eToro Mobile Trading Platform, eToro Trading Platform, eTranzact, iPay, mPay, neteller, paysafecard, postepay, skrill, unichange.me
Full regulations list:
5
Min. Deposit
$0
Promotion
User Score
7.9
Earn up to 3.5% back in crypto on every purchase
No hidden fees or minimum balance
Immediate Trade Execution
Start Trading
Description:
BlockFi was created to provide credit services to markets with limited access to simple financial products. BlockFi sets itself apart from other crypto service providers by pairing competitive rates with institutional-quality benefits. BlockFi is the only independent lender with institutional backing from investors that include Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, SoFi, and Coinbase Ventures.
Payment Methods
Full regulations list:
 

Conclusion

BlackCoin is better than Bitcoin in many ways, the primary one being - decentralization and autonomous control to every user. Where Bitcoin community has a heavy domination from the miners who are a small group of people controlling more than 50% of the currency. Any change in Bitcoin network would require complete consensus, which is tough to implement. With this, the situation becomes equally dangerous as well for the small investors and holders. Hence, BlackCoin can emerge as a powerful currency of future, provided it sticks to its principles and core values that ensure decentralization and anonymity.

Alternative Cryptocurrencies

Maker logo
Maker
MKR
...
...
Tether  logo
Tether
USDT
...
...
Crown logo
Crown
CRW
...
...
Mithril logo
Mithril
MITH
...
...
Baby Doge Coin logo
Baby Doge Coin
BabyDoge
...
...
We use cookies to personalise content & ads, provide social media features and offer you a better experience. By continuing to browse the site or clicking "OK, Thanks" you are consenting to the use of cookies on this website.