SIBcoin

SIBCoin Review: The Russian Decentralized Cryptocurrency

Overview

Sibcoin is a decentralized cryptocurrency. Like others used in the everyday purchase, the coin is easily transferred from one user to another using digital wallets which have unique addresses.

Sibcoin is also called the Siberian Chervonets. It is a hard fork of DASH (Digital Cash) and was launched in 2015 in Russia.

It’s got all features of DASH and implements some more that makes it unique. Most especially, it is ASIC-resistant. It’s more like the Russian Bitcoin.

The team mentioned that its goal is to develop a cryptocurrency that is easy to use and widely accepted by everyone. The different processes in relating to blockchain and it’s associating technologies can be confusing for newbies, SIBCoin, therefore, aims to be the driving force behind Russia blockchain community. This has increased the growth of Sibcoin community in Russia and other countries.

Advantages of Sibcoin

User Details Are Kept Private: users can transact using Sibcoin with total trust that no information will be disclosed. Sibcoin enforces privacy using the RingCT, ring signatures, and stealth addresses. Sending addresses are hiding using ring signatures while receiving addresses are masked by stealth addresses. This helps to keep payments private and transactions untraceable.

Low Fees on Transactions: Transaction fees on the Sibcoin network is next to nothing compared to bank and credit card rates.

A Store of Wealth: Like most cryptocurrencies, the Sibcoin can be purchased for investment purpose. The increase in value over time has made the token a store of wealth; buying when it’s low and cashing out when the value rises as a result of high demand.

A Decentralized Platform: Sibcoin is fully decentralized; without any central authority. The platform uses a peer to peer communication model that allows two parties initiate transactions without any middleman.

Beyond Borders: Being a coin from Russia, Sibcoin can be used by anyone, anywhere in the world to send and receive money.

A Secured Network: The platform has a perfect security feature in place for its users. To ensure community investment is well protected, Sibcoin uses much-advanced encryption and a 2 tier protocol as the best security option.

SIB.SALE Platform

The SIB.SALE platform helps cryptocurrency holders purchase the SIBCoin conveniently using a MasterCard, Maestro, Visa and MIR cards. You can purchase the Siberian Chervonets in 3 easy steps:

  • Specify the SIBCoin wallet address you want your SIBCoin sent after purchase.
  • Enter the quantity you wish to buy.
  • Click on the Buy button to choose your desired payment method.

Your SIBCoins should be in your wallet after a successful transaction.

On the exchanges, the Sibcoin can only be purchased using bitcoin (BTC) and the Russian Rubbles (RUR). You can exchange bitcoins for SIB at the following exchanges – C-Cex, YoBit, Bittrex, BTC Alpha, Cryptopia, Livecoin, and Upbit exchanges. Besides trading your SIBs for bitcoin, you can also purchase and sell your SIBCoins for the Russian Rubble at Livecoin.

Though the platform is written in Russian, people from all parts of the world can easily convert the texts to English using a Google Chrome browser with the Google Translator extension installed.

Those interested in holding SIBCoin can also download a SIBCoin wallet for any version of OS or device they might have. The SIBCoin wallet is available for the iOS 11+, MacOS, Windows, Andriod, and Linux devices.

You can also generate a SIBCoin wallet address online with this link.

Conclusion

The Sibcoin cryptocurrency is gradually becoming the driving force behind the Russian blockchain community. Meetups being held in the Siberian city and other western Russian cities as well has helped strengthened and contributed to its growth immensely.

Sending and receiving money in real time using a decentralized platform which is way more secure, faster, and costs less to send to anyone, anywhere in the world has been made comfortable and convenient with projects like the SIBCoin.

With the SIBCoin’s continuous and steady growth since November 2016, the SIBCoin is one token people will want to invest in 2018. Whether you are looking for a cryptocurrency for everyday payments, or as an investment, the SIBCoin is a cryptocurrency you might want to consider holding.