About sexcoin

Sexcoin Review: Mining Guide, Price & Analysis of Sexcoin Cryptocurrency

Sexcoin is a cryptocurrency targeting the adult entertainment industry. The adult entertainment industry is one of the biggest industries in the world. Sexcoin seeks to revolutionize how people make payments. It offers discretion when paying for services.

Blockchain technology is penetrating in all industries. Now, we are seeing its debut in this space. The usage of Sexcoin comes with several benefits. The users can enjoy full discretion when making payments. Additionally, Sexcoin payments involve near-zero fees. Hence, users will save a lot of money by using Sexcoin.

For sex workers, it involves no chargebacks. Therefore, they do not have to worry about getting swindled. Additionally, it promotes their business. People no longer have to worry about getting exposed for consuming adult content.

This coin has a valid mission behind it. Many consumers of adult content will see the need for this. Let us look at how it works.

How Sexcoin Works

The official Sexcoin website does not offer much information on how this coin operates. They focus more on marketing the coin and explaining its benefits.

Sexcoin operates like any traditional cryptocurrency. It is only unique in that it focuses on the adult content industry. Moreover, it is much lighter. This means that it requires less computational power to maintain security.

Sexcoin operates on its own blockchain. The blockchain has decentralized nodes that work together to maintain a consensus on the network. This means that there is no central database to attack.

Hence this is a more secure way of payments. Additionally, you can make transfers peer to peer. This means that there is no central institution to facilitate transactions. This is what leads to low transaction fees.

The Sexcoin network uses the Proof of Work algorithm to maintain consensus. Also, it applies encryption and cryptography to hide sender and receiver information. Therefore, they are offering users full discretion in transactions.

This is the selling point of Sexcoin. They developers do not envision the usage of this coin in paying for goods and services. Consequently, they market Sexcoin using adult content. Further, they have a shop selling adult toys that you can purchase using Sexcoins.

Can Investors Mine Sexcoin?

Yes, investors can mine Sexcoins. It uses the Proof of Work consensus to maintain security. The job of miners is to validate transactions on the blockchain. Once they confirm transactions, they are immutable on the distributed ledger.

Additionally, Sexcoin uses Scrypt mining algorithm. This means that the coin needs less computational power to mine. This is because Scrypt is lighter compared to the SHA256 mining algorithm.

The block time on the Sexcoin blockchain is 60 seconds. The mining difficulty retargets after every eight hours. The reward per successfully mined block is about 100 coins. This reward halves every 600,000 blocks. The reward on superblocks is 500 coins.

The developers of Sexcoin premined the first two blocks for maintenance purposes. This includes use cases such as paying for bounties.

Sexcoin is one of the easiest coins to mine. However, since the introduction of ASIC miners, it is becoming unprofitable. To enjoy any returns, it is advisable to join a mining pool.

The Team behind Sexcoin

Sexcoin introduces us to its team on the official website. However, they do not tell us what experience these individuals have. Additionally, they use pseudo names to represent people.

The developer of Sexcoin is Lavajumper. The only thing that Sexcoin tells us is that Lavajumper is a developer of the project since the beginning. Next to him is PIB. Sexcoin tells us that PIB is their European businessman and entrepreneur. Nothing more.

This is the theme for the other team members. There are no real names, and Sexcoin does not tell us the experience they have. This does not seem like a team of professionals who know what they are doing. This project appears to be more of a gag to them. It seems they expected this project to sell itself by the association with the adult content industry.

Privacy and Security

The selling point for Sexcoin is probably its privacy features. Using encryption, cryptography and hashing functions, users can transact privately. This means that details of the sender and receiver remain hidden. This is to facilitate discretion in the industry.

This is something that people can get behind. Privacy is something you don’t get with a lot of traditional cryptocurrencies.

Additionally, the Sexcoin team works very hard to ensure the network is secure. They depend mostly on a blockchain architecture. Here, the network consists of distributed nodes that work together to keep the network safe. Moreover, the distributed nodes work together to help each other recover in case of a successful attack.

Further, the system uses encryption and hashing algorithms to keep the network secure. This is on top of cryptographic functions.

Sexcoin Performance

We will now look at the performance of Sexcoin in the markets. Currently, the coin ranks 3323rd in market cap share. The 24-hour trading volume is $692.64. This is very low. With this kind of performance, we doubt that this coin is being used for its intended purpose.

The total supply of Sexcoin is 128,405,894.933. However, the circulation volume is unknown. This coin is barely in use. Hence, its value is very low. The price of one Sexcoin is $0.002951 at the time of writing this.

Our Take on Sexcoin

This seems more like a gag coin than a utility coin. The developers are working hard to push this coin into the market. However, it does not seem to be getting any kind of traction. There are many reasons why this is happening. One is that there are better privacy coins in the market.

Such coins have more usability than just paying for adult content. Moreover, the coin is heavily involved in the adult industry. Not many people want to get behind such a coin.

Additionally, the team does not seem to have much experience in technology, let alone blockchain technology.

Advantages

• Allows for discrete transactions.
• Sexcoin allows for easy and secure transactions.

Disadvantages

• Has a low value in the market.
• Not many people want an association with the adult content industry.
• There are better privacy cryptocurrencies in the market.
• Not available on many exchanges.

Where to buy Sexcoins

There is only one exchange that currently sells Sexcoin. You won't find the currency on popular exchanges like Poloniex. One of the exchange that offer Sexcoin is Livecoin. This is unimpressive. It means that the coin has low liquidity. Therefore, it is not easy to sell fast.

You can use Sexcoin’s proprietary wallet to hold your coins. The wallet is available on Windows, macOS, Linux and Android. However, remember that this coin does not have high liquidity. Additionally, it does not have a high trading volume. Therefore, it will not be easy for you when you finally want to sell your coins.

Final Verdict

Having a coin that supports private transactions is very appealing. However, it is heavily attached to the adult content industry. Hence, not many people will want to get behind it. Moreover, this reduces its usability.

Consequently, the coin has very low performance in the markets. Its value is very low and has low adoption. The developers of this coin do not seem to know what they are doing. Promoting the coin behind adult content is not enough. It needs to have merit.