What is WeAreSatoshi (WSX) Crypto Beginner’s Guide
In the world of cryptocurrencies, it can be a dog eat dog world. Many projects, altcoins, entrepreneurs, startups and small businesses fail for one reason or another. Some altcoins simply die due to having bad developers, being used for a scam or are not that valuable.
Every day there are over hundreds of altcoins that simply “die” due to pump and dump scams, multi-level marketing Ponzi schemes, and other immoral shortcomings.
But like with any movement or digital currency, there is always room for a revival. Sometimes these altcoin revivals succeed in their missions thanks to either new management or better developments for the altcoin. Sometimes they fail again due to either being used for another scam, bad publicity from past owners or simply couldn’t keep the project going.
When it comes to investing in a revived altcoin you may face issues finding enough reliable information on the altcoin’s updates, information, old records, and so on. This can definitely make it next to impossible for future investors to feel secure in investing in a revived cryptocurrency.
After all, you don’t want to fall for a scam but at the same time don’t want to miss the boat on the next big idea, project, ICO, etc. So what can cryptocurrency users do to bypass the lack of data, poor altcoin reputation, and other unknowns? How can they be sure that the revived altcoin isn’t simply another scam or a rehash of the past developer’s bad antics?
WeAreSatoshi: Altcoin Revival For Love and Compassion or Just Another Bad Altcoin
WeAreSatoshi used to be a dead altcoin until its recent revival. Not much is known about this cryptocurrency beyond the developer’s message of “reminding everyone that each of us makes a difference in the world”. The major goal of this altcoin’s revival was to help promote a positive influence within the Bitcoin community and give users another minable crypto.
It doesn’t have any complex goals or world-saving mission statements beyond wanting to promote a sense of giving, compassion, and care within the various cryptocurrency communities.
The altcoin just has a simple plan for progression and is seen to be exchangeable between cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. This WeAreSatoshi altcoin is even exchangeable for USD too. You can purchase the WeAreSatoshi altcoin on either the Atilly.com or Cryptopia cryptocurrency exchanges.
WeAreSatoshi plans to incorporate an encrypted messaging platform, DarkSend+, In-wallet market, In-wallet block explorer and a merged mining method.
How Does WeAreSatoshi Work?
Currently, WeAreSatoshi is a mix between proof of work and proof of stake. You can purchase WeAreSatoshi on cryptocurrency exchanges or participate in one of the giveaways, faucets or in the pools. Prohasing and D3pool are the two major WeAreSatoshi altcoin pools for mining.
The future for this altcoin supposedly will transition to a merged form of mining. Its proof of stake will offer users a 5% interest for three months and then transition towards a yearly 1% interest on all WeAreSatoshi altcoins.
Users can download the MultiFaucet.tk wallet to store their WeAreSatoshi altcoins. The only drawback is the altcoin works mainly on Windows OS and Mac OS. Basically, Android users and Linux OS users kind of get excluded from this cryptocurrency.
What are the Benefits of Using WeAreSatoshi?
The community for this cryptocurrency seems to be quite friendly and willing to communicate with users. The platform offers three languages: English, Chinese and Portuguese. The project is open source so anyone can read the coding and internal aspects of the project.
Final Thoughts on WeAreSatoshi (WSX)
Since it is a fairly new revival there are many unknowns for this project’s benefits. But if their roadmap for the altcoin is to be believed, WeAreSatoshi may well be on its way to becoming another great minable cryptocurrency. Until the cryptocurrency finishes its major developmental phases only time will tell if this altcoin is a worthy investment or not.