Onyxcoin: A Smart Investment Decision?

Onyxcoin (XCN) is a decentralized digital asset that operates on the Ethereum blockchain. It is the governance and utility token for the Onyx Protocol, a decentralized platform that facilitates peer-to-peer lending and borrowing of various digital assets. The Onyx Protocol supports a range of digital assets, including Ether (ETH), ERC-20 tokens, ERC-721 tokens, and ERC-1155 tokens, which can be supplied or borrowed through a unified balance. Onyxcoin also serves a dual purpose: it acts as a governance token, giving holders voting rights, and as a utility token, facilitating activities within the system and maintaining its economic balance. With a market cap of $47.46M, Onyxcoin is currently valued at 99.12% below its all-time high of $0.18. In this paragraph, we will explore whether Onyxcoin is a good investment and what factors investors should consider.

Onyxcoin's price predictions for 2024, 2025, 2030, 2040, and 2050

Onyxcoin (XCN) is a decentralised digital asset that operates on the Ethereum blockchain. It is the governance and utility token for the Onyx Protocol, a decentralised platform that facilitates peer-to-peer lending and borrowing of various digital assets.

2024

According to TechNewsLeader, the XCN price will reach a maximum of $0.0029 in 2024. CoinCodex predicts that the price of Onyxcoin will rise by 226.75% and reach $0.005248 by 22 August 2024.

2025

TechNewsLeader predicts that the XCN price will reach $0.0038 to $0.0044 in 2025. CoinCodex predicts that Onyxcoin will reach $0.007555 in 2025.

2030

TechNewsLeader predicts that the minimum trading price of Onyxcoin will be around $0.0269, with the highest price reaching $0.0307 in 2030. CoinCodex predicts that the price will be between $0.004012 and $0.006505.

2040

TechNewsLeader predicts that the XCN price will be around $1.58 in 2040.

2050

TechNewsLeader predicts that the XCN price will hover between $1.86 and $2.17 in 2050.

It is important to note that these are only predictions and that the cryptocurrency market is highly volatile and subject to rapid changes.

Onyxcoin's unique features and what makes it stand out

Onyxcoin (XCN) is a decentralized digital asset that operates on the Ethereum blockchain. It is the governance and utility token for the Onyx Protocol, a decentralized platform that facilitates peer-to-peer lending and borrowing of various digital assets. Here are some of its unique features that make it stand out:

• Democratized Control: Onyxcoin holders can directly influence the trajectory of the Onyx Protocol through a structured system of voting and proposals. This ensures that the platform is controlled by its users and continually secured.
• Perpetual Credit Lines: Onyx Protocol offers credit lines without monthly payments or expiration dates as long as sufficient collateral is maintained. This eliminates the traditional limitations of deadlines and payments, providing users with greater flexibility.
• NFT Collateral: NFTs can be supplied as collateral to enhance the borrowing capacity of the corresponding account. This feature expands the options for users to access credit.
• Staking Rewards: Onyxcoin incentivizes user participation by allowing holders to stake their coins and earn rewards. This mechanism sustains the protocol's economic vitality and encourages active engagement within the platform.
• Discounts on Chain.com: Onyxcoin serves as a preferred medium for accessing Chain.com products with discounts. This provides an additional utility for Onyxcoin holders beyond standard transactions.
• Non-Custodial Transactions: Onyx Protocol utilizes smart contracts for non-custodial transactions, ensuring transparency and security. This means that users maintain control over their digital assets and transactions without relying on intermediaries.
• Support for Multiple Digital Assets: The Onyx Protocol supports a wide range of digital assets, including Ether (ETH), ERC-20 tokens, ERC-721 tokens, and ERC-1155 tokens. This broad support allows users to supply or borrow various cryptocurrencies through an aggregated and unified balance.

How to buy Onyxcoin

Onyxcoin (XCN) is a decentralised digital asset that operates on the Ethereum blockchain. It is the governance and utility token for the Onyx Protocol, a decentralised platform that facilitates peer-to-peer lending and borrowing of various digital assets.

Step 1: Create a Coinbase Account

Download the Coinbase app and start the sign-up process. You will need a valid ID and may be asked for proof of address to transact, so be sure to have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.

Step 2: Add a Payment Method

Tap on the payment method box and connect a payment method. You can use a bank account, debit card, or initiate a wire. On Coinbase.com, select Buy & Sell. On the Coinbase mobile app, tap the (+) Buy on the Home tab.

Step 3: Select Onyxcoin from the List of Assets

On Coinbase.com, click the Buy panel to search and select Onyxcoin. On the Coinbase mobile app, search for Onyxcoin by typing "Onyxcoin" into the search bar. When you see Onyxcoin appear in the results, tap it to open up the purchase screen.

Step 4: Enter the Amount You Want to Buy

Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into an Onyxcoin amount. You can tap the arrow buttons to the right of the amount of money you want to spend to switch the number to the equivalent amount of Onyxcoin.

Step 5: Finalise Your Purchase of Onyxcoin

Tap "Preview buy" when ready. You’ll be shown the details of your purchase. Make sure everything looks good and then confirm your purchase by clicking "Buy now".

Once the order processes, you’re done! That’s it – you’ve bought Onyxcoin.

Other Ways to Buy Onyxcoin

Onyxcoin can also be purchased on various other centralised exchanges, including Bitfinex, KuCoin, Gate, HTX, Poloniex, Bithumb, Kraken and BtcTurk. Additionally, users can use decentralised exchanges such as Uniswap to buy and trade XCN.

Onyxcoin's utility and dual purpose

Onyxcoin (XCN) is a decentralised digital asset that operates on the Ethereum blockchain. It is the governance and utility token for the Onyx Protocol, a decentralised platform that facilitates peer-to-peer lending and borrowing of various digital assets.

Onyxcoin's dual purpose is what sets it apart in the decentralised finance arena. As a governance token, it allows holders to influence the trajectory of the Onyx Protocol through a structured system of voting and proposals, ensuring a democratised control and continual securing of the platform. This means that XCN holders can directly impact the direction of the Onyx Protocol, giving them a say in the decision-making process.

Additionally, as a utility token, Onyxcoin facilitates various activities within the system and maintains its economic balance. It is required to leverage the network's services and features, and it can also be used to send value internationally. Onyxcoin also serves as a preferred medium for accessing Chain.com products with discounts.

The Onyx Protocol supports a range of digital assets, including Ether (ETH), ERC-20 tokens, ERC-721 tokens, and ERC-1155 tokens. These assets can be supplied or borrowed through an aggregated and unified balance, supported by non-custodial custody via decentralised smart contracts. Onyxcoin enhances the borrowing capacity of the corresponding account by allowing non-fungible tokens (NFTs) to be supplied as collateral.

The unique features of Onyxcoin foster user engagement, security, and convenience. It also incentivises user participation through staking mechanisms, where users can stake their XCN holdings to earn rewards, sustaining the protocol's economic vitality.

Onyxcoin's history and founders

Onyxcoin (XCN) is a decentralised digital asset that operates on the Ethereum blockchain. It is the governance and utility token for the Onyx Protocol, a decentralised platform that facilitates peer-to-peer lending and borrowing of various digital assets. The Onyx Protocol supports a range of digital assets, including Ether (ETH), ERC-20 tokens, ERC-721 tokens, and ERC-1155 tokens. These assets can be supplied or borrowed through an aggregated and unified balance, supported by non-custodial custody via decentralised smart contracts.

Onyxcoin was launched by a group of developers and is fully open-source, developed by the XCN community. The Onyx Protocol, powered by Onyxcoin, aims to support a broader segment of the digital asset space, including non-fungible tokens (NFTs). The protocol's underlying mechanism is powered by Onyxcoin, which serves as both the protocol's governance and utility token.

Onyxcoin has a current circulating supply of 29,469,583,243 XCN, with a total market cap of 29,469,583,243. The all-time high of Onyxcoin is $0.18. The median time that Coinbase customers hold Onyxcoin before selling or transferring it is 22 days.

Onyxcoin is the result of a rebranding; the Chain (XCN) blockchain entered service in 2017 and was acquired by Stellar in 2018 as part of its 'Interstellar movement'. Two years later, the network was re-acquired and renamed Chain. Today, it is a popular option for traders and businesses.

Frequently asked questions