What is EnergyCoin?
The EnergyCoin is a crypto-currency with an active community founded in 2014. For a crypto-currency that is quite old 🙂 The coin was founded to green up the economy and to fixate the value of sustainable energy on the blockchain. While developing the coin we chose to use the energy saving Proof of Stake instead of Proof of Work. More about that below.
Read all about the coin itself on the website of EnergyCoin.
The EnergyCoin (ENRG) blockchain labels the value of sustainable development. Within ENRG ecosystem these values can be seamlessly exchanged to speed up the transition to a green, climate neutral society. People should be empowered to authenticate and transact the value of local climate sustainable action immediately and without costly intermediaries.
You can’t start paying with EnergyCoin right away. Exchanging in them into Euros always goes via Bitcoin. EnergyCoin is an energy sufficient coin and is a derivative from Bitcoin. Yet, we think it is a very good idea to actually own EnergyCoins. The EnergyCoin foundation offers the blockchain technique to fixate the value of your (local) sustainable campaigns and make it exchangeable. The new programmable money is being put to use as a corner stone for a green economy.
The value of EnergyCoin translated into Bitcoin value stands for a promise towards the future.
The value we create together, the EnergyCoin foundation will put to use in the climate neutral and environmental friendly future. As a participant you are a a part of that, no matter how big or small your share. According to many, traditional money will get a smaller and smaller part in the future.
With EnergyCoin we are at the brink of a new dawn.
How can I get EnergyCoin
Participants in the projects will receive EnergyCoins as a reward or payment for sustainable actions.
Bittrex ENRG-BTC market is closing
As you may already know, Bittrex has announced that ENRG-BTC market would be removed on 26-Oct-2018. One of the main reasons for delisting ENRG-BTC market is a low trading volume. By the Bittrex Market Removal Policy users has 14 days to withdraw any delisted tokens, but in certain instances the withdrawal period may be shortened. Users should withdraw any ENRG before the Bittrex posted withdrawal deadline. We will update you in regards to the official Bittrex ENRG withdrawal deadline.
ENRG going to new exchanges
Bittrex has been the only exchange where ENRG was traded. To avoid ending up this situation ever again, we are in process of listing ENRG on minimum two new exchanges, which are less demanding than Bittrex at this moment.
Listing on a new exchange
We were working hard to list EnergyCoin on a new exchange so ENRG is tradeable
- crex24.com has accepted our application to list ENRG October 25th.
- We are expecting to be up and running on crex24.com in 5 to 12 days,
- We are in process of listing ENRG to one more exchange.
Crex24 is a smaller exchange than Bittrex, but it works just as fine for us in this situation. We were looking for a quick and financial acceptable solution. So far we had a good communication with the Crex24 team, and we expect that to continue for the benefit of EnergyCoin holders.
What to do with ENRG funds on Bittrex
You should migrate off ENRG funds of Bittrex by sending coins to any of the following wallets:
- EnergyCoin Core Client (download from here),
- EC Lite web wallet
- New ENRG exchanges to be announced (note: we do not advise keeping coins on exchanges for extended periods of time)
EC Lite is an EnergyCoin web wallet hosted at energyexchange.eu
It is simple to use by using 12 word passphrase that you get during registration. To make it even more user friendly, a secret URL and password could be used.
How can I sell EnergyCoin
With an account on Crex24 you can exchange EnergyCoin to Bitcoin and to Euro’s or another currency through that within a few days. At this moment we are developing an exchange platform where it can be exchanged into Euros or vice versa directly. There can be entrepreneurs or small businesses that accept EnergyCoin as payment or discount. These businesses or entrepreneurs can get an honorable mention on this website. They can exchange the EnergyCoin to Euro’s or donate them through the foundation.
How can I (securely) save EnergyCoin
We have developed a secure web wallet through EnergyExchange.eu. We are developing a clip that will show you how to easily set up a wallet. You need this wallet to participate in our projects.
The wallet is a secure spot and relatively easy to manage. You can even get the wallet on your mobile, just make sure you you remember the twelve secret words (!). Through a link you can also log on using a password. Never keep huge amounts of EnergyCoins in your webwallet, you will miss out on interest by putting your coins on stake.
How to set up my wallet
Go to EnergyExchange.eu and follow the steps as explained.
- Windows ->Download the wallet and download the blockchain. Check out the forum.
- Ios→Not available yet
- Linux→See forum
- Raspberry Pi→See forum
- Synchronize my wallet→when the installation was successful (with the EnergyCoin.conf file in the wallet folder) it should synchronize automatically. This should come with the blockchain if you got that of the forum. If it doesn’t work, feel free to ask for help. We are trying to make it work easier but we do not have the funds for that right now. We are focusing on the applications right now and the wallet is relatively easy to use. So there is an alternative if you find it to complicated. We don’t mind helping you if you have a big wallet to you want to be put on stake. Having a 100 to a 1000 EnergyCoins has sufficient functions.
Is EnergyCoin safe
Definitely, in the four years of existence there has never been a single problem. The protocol for the network, Proof of Stakeis at least as safe as mining.
What is stake
EnergyCoin uses the protocol Proof of Stake, that means that every 150 seconds 5 new EnergyCoins are being created in an on-line wallet as a reward for supporting the network. The more coins you have, the bigger the chance of getting a reward. Per year this results in a 1% increase in EnergyCoins, which is a pretty low interest, this is a compensation for supporting the network. Without the network there is no EnergyCoin and there would be no crypto-currency at all.
In time the protocol might be adjusted to enable every smart meter to become a junction in the network and be rewarded for that. This isn’t possible yet, but we’re building a robust network as we speak.
Where can I spend my EnergyCoins
Frankly, nowhere yet. You can exchanging them into Euros (via Bitcoin). The EnergyCoin can be used as a means of exchange. Just like the tokens that we are going to develop together. And we are building together a robust network where the EnergyCoins are a payment method.
If you are a small business owner and want to support this great initiative you give discounts to customers who buy your product. We can show these transactions on the blockchain for the business owner to stand out. The coins can be donated to the EnergyCoin foundation to create tax reduction. This a win-win for everyone and will make the EnergyCoin eco-system grow.
Is there a transaction fee
Yes, even though they are little: 1/1000 EnergyCoin per transaction. If the value of the EnergyCoin value increases significantly we can change the protocol to further decrease the transaction fee.