What is Halcyon Coin (HAL) Crypto Beginner’s Guide
Launched on 16th August 2018, Halcyon Coin had a 9 days proof of work period after its release as a decentralized digital currency. During the design of the currency, the Proof of Work period and the Proof of Stake were made to run at the same time while the Proof of Stake became the means of transactions confirmations after the PoW period.
There was no Premine or ICO during the launch of Halcyon which offers a 9% annual reward to its users for storing the coins. Users who stake their coins also receive a transaction fee as an additional reward while there is also a compound interest on this annual rate. Anyone looking to earn more on the platform can do so through the Masternodes although it requires over 200- coins as the wallet balance of the user. To reduce ASI interference and multipool, the coin uses an X15 algorithm while the end of the PoW phase came with the creation of 1.62 million coins.
With Halcyon, users get a peer-to-peer digital currency which is truly anonymous. On the 9th of September, the addition of PeerSend by the Halcyon team eliminated the mixing of coins by a central service while giving users the ability to send their coins to any wallet address. To make the implementation of the new technology stress-free, the development and testing of the technology were performed before the launch period. One common trend in the cryptocurrency community is the creation of malicious currencies. To prove that the currency is legit, XDCoins’ Dan Metcalf did a review of the coin on the Halcyon code along with the code for PeerSend.
There are lots of processes that go on in the background in order to make a coin successful. These include the release of a roadmap and meeting the objectives listed in the roadmap. Halcyon has been quite effective in this regard and has also been listed on most of the popular exchanges available. There have also been continuous developments and updates of the coins core functionalities.
How to Buy Halcyon Coin
For users looking to purchase HAL, you should know that fiat currency cannot be used in exchange for the coin. The first step to get the currency is to get Bitcoin and then look for an exchange which offers the best service in your location. This is where you will trade your Bitcoin for HAL.
If Coinbase is available in your country, then this is an exchange which we recommend for your cryptocurrency trading. They offer a secure and regulated Bitcoin purchase process.
In areas where Coinbase is not available, you can go for Cex.io or Coinmama. Whichever you find.
Where to Store Halcyon Coin (HAL)
If you can get the official wallet of the Halcyon, then this is the best option when it comes to storing the coin. In other cases, you can make use of a hardware wallet to store your coins or visit Trezor Wallet, Ledger Nana S, or KeepKey to make a purchase. These wallets listed offer the most secure features for storing cryptocurrencies.